By Divya Shokeen
Updated On July 15, 2022

The Canara Bank RuPay Select Credit Card offered by Canara Bank is a lifetime free credit card. As is obvious from the name, the card is powered by the home-grown Payments Service Provider, RuPay, which is one of the most popular card networks in the country. It is a reward points-based credit card and you earn 2 reward points for every Rs. 100 spent, with one reward point being equivalent to Rs. 0.25. With this card, you also get personal accidental death or permanent liability insurance benefits.

Talking about other features of this card, it comes with a low-interest rate of 2.5% per month, which might be much more beneficial for the cardholders. Other than the regular rewards mentioned above, the cardholders can avail of a wide range of short terms deals and offers across various premium brands, like Amazon, BigBasket, Croma, OYO, Pharmeasy, and many more. Read on for more details on this offering by Canara bank.

Canara Bank RuPay Select Credit Card

(3.5/5)

Best Suited For

Shopping |

Joining Fee

NIL

Reward Type

Reward Points |

Product Details

  • The Canara Bank RuPay Select Credit Card comes with no joining and an annual fee.
  • 2 reward points on every Rs. 100 spent on this card.
  • Comprehensive insurance coverage up to Rs. 10 lakhs.

Rewards and Benefits

Welcome Benefits

NA

Movie & Dining

NA

Rewards Rate

Earn 2 reward points on every Rs. 100 spent on this card including on e-commerce transactions.

Reward Redemption

Redeem your reward points for buying products or paying for a service. 1 RP = Rs. 0.25

Travel

You get complimentary lounge access with this card

Golf

NA

Domestic Lounge Access

NA

International Lounge Access

NA

Insurance Benefits

Covers personal accident death and permanent liability insurance up to Rs. 10 lakhs

Zero Liability Protection

Cardholder not liable on timely reporting of card loss/theft.

Fees & Charges

Joining Fee

NIL

Renewal Fee

Nil

Spend based Waiver

NA

Rewards Redemption Fee

Nil

Rewards Redemption Fee

Nil

Foreign Currency Markup

3.5% + taxes

Interest Rates

2.5% p.m.

Fuel Surcharge

1% fuel surcharge waiver on all fuel transactions

Cash Advance Charge

3% of the advance amount and is subject to a minimum of Rs. 30 per Rs. 1000.

Add-on Card Fee

Nil

Canara Bank RuPay Select Credit Card Features and Benefits

The RuPay Select Credit Card offered by Canara Bank is one of the great offerings of the bank. It comes with a decent reward rate and several other benefits across different categories. Some of its most exclusive features and benefits are as follows:

Insurance benefits:

  • The Canara Bank covers death by personal accident and permanent disability insurance up to Rs. 10 lakhs on Canara Bank RuPay Select Credit Card.

Other Benefits:

  • Canara bank provides zero liability protection on Canara Bank RuPay Select Credit Card to the cardholders.
  • The cardholders will not be held liable for any unauthorized transaction exceeding the transaction limit of Rs. 1000 post the time of reporting the loss of the card. (However, for transactions made prior to the time of reporting, the liability lies solely with the card member.)
  • You get a 1% fuel surcharge waiver on all fuel transactions made using this credit card.

Canara Bank RuPay Select Credit Card Rewards

Canara Bank RuPay Select Credit Card entitles you to earn 2 reward points on every Rs. 100 spent on this card including on e-commerce transactions.

Reward redemption:

  • You can redeem your collected reward points for purchasing goods and services, and for cashback.
  • For redeeming your reward points log in to www.canararewardz.com.
  • 1 reward point is equivalent to Rs. 0.25.
  • The minimum redeemable reward point limit for cashback is capped at 1000 reward points.
  • The minimum redeemable reward point limit for the purchase of goods and services is capped at 100 reward points.
  • The validity period for redeeming accumulated reward points is 3 years from the date of accrual.

Canara Bank RuPay Select Credit Card Fees and Charges

Some of the important fees and charges associated with the Canara Bank RuPay Select Credit Card are as mentioned below:

  • The joining and annual fee of this credit card is zero, i.e, it is a lifetime free credit card. However, an inactivity fee of Rs. 300 might be charged every year if the total annual spends of a cardholder are less than Rs. 10,000.
  • The interest rate on the Canara RuPay Select Credit Card is 2.5% per month, which is lower than most basic credit cards in India.
  • The foreign currency markup fee of this credit card is 3.5% of the total transaction amount.
  • The cash advance fee on the Canara Bank RuPay Select Credit Card is 2.5% subject to a minimum of Rs. 30 for every Rs. 1,00.

Canara Bank RuPay Select Credit Card Eligibility Criteria

The eligibility requirements for the Canara RuPay Select Credit Card are not disclosed clearly by the bank, but some of the basic criteria are as follows:

  • The age of the applicant should be 21 years or more.
  • The applicant should have a stable source of monthly income (salaried as well as self-employed people are eligible).
  • The applicant should have a decent credit history.

Documents Required

You will also need to submit a few documents while applying for the Canara Bank RuPay Select Credit Card. These documents are listed below:

  • Identity Proof: PAN Card, Aadhar Card, Voter ID, Passport, or Driving Licence.
  • Address Proof: Aadhar Card, Voter ID, Passport, Driving Licence, Rent agreement, Utility bills, Municipal or property tax receipt, House allotment letter issued by central or state government
  • Income proof: For salaried employees – salary slip of last two months & bank statement showing salary credits. For self-employed individuals – Later ITR (Income Tax Return).

How To Apply For The Canara Bank RuPay Select Credit Card?

There are two ways to apply for the Canara Bank RuPay Select Credit Card. The first one is to visit your nearest Canara Bank branch with all the required documents and apply for the card by filling out the physical application form. Another way is to download the form from the bank’s official website as follows:

  • Visit the Canara Bank’s official website.
  • Under the ‘Personal Banking’ section, click on ‘Card Services.’
  • Click on Credit Cards.
  • Now, you will see the option ‘Application forms.’ Click on that.
  • Select Hindi/English form as per your choice.
  • Download the form and take a printout of it.
  • Fill in the application form.
  • Attach all the required documents and submit them to your nearest branch.

Conclusion

Even though bring a basic credit card, the Canara Bank RuPay Select credit card not only offers a very high reward rate, the good part is, unlike many other credit cards in the market, this one by Canara bank allows encashment of the rewards points (i.e. the rewards points can be adjusted against your card’s outstanding balance). This card can be a good pick for someone who has just started their credit journey and plans to use the credit card primarily for shopping. Punjab National Bank also offers PNB Select Credit Card on the RuPay platform, which is very much comparable to this one.

What are your reviews on RuPay credit by Canara bank? Do let us know in the comments. And if you’re an existing cardholder, feel free to share your experience.

FAQs:

No, the Canara Bank RuPay Select Credit Card doesn’t provide any movie and dining benefits.

No, Canara Bank doesn’t provide golf benefits currently on Canara Bank RuPay Select Credit Card.

Canara Bank charges a 2.5% interest per month on Canara Bank RuPay Select Credit Card.

There is no joining and the annual fee on Canara Bank RuPay Select Credit Card.

Write A Comment

Sign up for the Card Insider Weekly Newsletter!

By providing my email address, I agree to cardinsider.com’s  Privacy Policy

Thanks For Subscribing!

Please confirm the email address

Please verify your email address

Add cards to start comparing

Compare Cards