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Canara Bank Visa Corporate Credit Card

Corporate credit cards help businesses manage their expenses more easily. These cards allow companies to control their spending while offering useful benefits for financial management. With features like expense tracking and reporting, businesses can keep an eye on employee purchases. This makes it simpler to budget and allocate resources effectively.

Canara Bank offers a Visa Corporate credit card designed for businesses. This card provides the necessary financial tools to help businesses succeed. It includes features like a waiver on fuel surcharges and seasonal offers to save on travel and other expenses. The card even offers important insurance benefits, protecting against fraud and baggage issues for travelers. To learn more about the card, continue learning.

Canara Bank Visa Corporate Credit Card

( 4.1 / 5 )
Canara Bank Visa Corporate Credit Card
  • Joining Fee₹250 + GST
  • Annual Fee₹250 + GST
  • Best Suited ForBusiness Expenses
  • Reward TypeN/A

Rewards Rate

N/A

Welcome Benefits

N/A

Movie & Dining

N/A

Rewards Rate

N/A

Reward Redemption

N/A

Travel

N/A

Domestic Lounge Access

N/A

International Lounge Access

N/A

Golf

N/A

Insurance Benefits

Air accident coverage for self and spouse, baggage insurance, etc

  • Spend-Based Waiver

    N/A

    Rewards Redemption Fee

    Nil

    Foreign Currency Markup

    3%

    Interest Rates

    2.50% monthly or 30% annually

    Fuel Surcharge Waiver

    A 1% waiver on fuel transactions across all fuel stations in India

    Cash Advance Charges

    3% of the advance, minimum ₹30 per ₹1,000

    • A fuel surcharge waiver is provided on fuel transactions.
    • Seasonal offers are provided with this card.

    Pros

    • Insurance benefits are provided for cardholders.

    Cons

    • The Forex markup fee of this card is high.
    • No Reward Points are provided on this card.

  • Seasonal Offers

    The Visa Corporate Credit Card provides seasonal offers to its cardholders. Currently, this card provides the following offers:

    Goibibo Offer

    • Discount of 12% on domestic flight bookings
    • Discount of 15% on hotel bookings
    • Discount of 9% on bus bookings
    • Discount of 10% on outstation cabs

    Fuel Surcharge Waiver

    The Canara Bank Visa Corporate Credit Card offers a fuel surcharge waiver of 1%. If you make a purchase of at least ₹400 at a fuel station, you can get back a portion of the surcharge, provided you have spent a minimum of ₹2,500 on your card during the billing month. The bank will reimburse you for a maximum of ₹100 in the following month.

    Insurance Benefits

    The Canara Bank Visa Corporate Credit Card offers important insurance benefits that help protect cardholders. It covers fraudulent charges, so users are safe from unauthorized transactions. For those who travel, the card provides baggage insurance to protect belongings during trips. It also includes purchase protection for eligible items in case of theft or damage. It even offers accident coverage for air travel, giving financial support for the cardholder and their spouse, and it covers other types of accidents as well.

    Categories Sum Insured
    Baggage Insurance Up to ₹25,000
    Purchase Protection Cover Up to ₹25,000
    Fraudulent Charge Cover ₹2 Lakhs
    Air Accident Cover ₹4 Lakh (Self); ₹2 Lakh (Spouse)
    Non-Air Accident Cover ₹2 lakh (Self); ₹1 Lakh (Spouse)

    Eligibility Criteria for the Canara Bank Visa Corporate Credit Card

    • You must be at least 21 years old and live in India.
    • Your business should have a minimum annual income of ₹2 lakhs.
    • You can get a corporate credit card with at least one add-on card.
    • The credit card limit must be between ₹50,000 and ₹2 crore.
    • The credit limit can be a maximum of 30% of your firm’s annual income.
    • You need to have a good credit history to qualify.
    • You must provide documents like proof of identity and proof of income with your application.

    Canara Bank Visa Corporate Credit Card Review

    The Canara Bank Visa Corporate Credit Card is a good option for businesses that want to manage expenses properly. It comes with a joining fee of ₹250 along with taxes. The card includes important benefits like insurance for air accidents and baggage, for you and your spouse. It offers a 1% fuel surcharge waiver on fuel transactions, but it has a higher foreign currency markup of 3%. The card provides seasonal offers, such as discounts on travel bookings with Goibibo. However, there are no rewards programs with this card. All in all, it’s a practical choice for businesses that need basic features and useful insurance benefits, although those who travel internationally may find the fees too high.

    FAQs:

    It is best suited for businesses looking to manage their financial expenses effectively.

    The foreign currency markup fee is 3%, which is considered high compared to other cards.

    No, the Canara Bank Visa Corporate Credit Card does not provide any reward points.

    Yes, there are seasonal offers, such as discounts on travel bookings with Goibibo.

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