Canara Bank MasterCard World Credit Card

The Canara Bank MasterCard World Credit Card is tailored for global travelers, offering benefits, such as worldwide acceptance, exclusive access to premium airport lounges, rewards on dining, shopping, and travel, and many more. 

The Canara Bank Mastercard World Credit Card is your gateway to global convenience and premium privileges. The card ensures seamless acceptance at international merchants; offers attractive reward points on dining, travel, and shopping, and complimentary airport lounge access along with personalized credit limits, travel insurance coverage, and many more.

Features of Canara Bank MasterCard World Credit Card 

The key features of the Canara Bank MasterCard World Credit Card are mentioned below: 

  1. The card is accepted at all domestic and international MasterCard-enabled merchants and ATMs. 
  1. International usage can be enabled via net banking, mobile banking, or by visiting your base branch. 

The card supports all transaction types, such as:

  1. ATM cash withdrawals 
  1. Point of Sale (PoS) purchases 
  1. E-commerce transactions 
  1. The card offers the ability to toggle On/Off or set limits via online or mobile banking or in-branch.

Credit and Withdrawal Limits 

  1. Maximum credit limit: Rs.50 lakh per month 
  1. Cash withdrawal limit: 50% of the credit limit or Rs.50,000 (whichever is lower) 
  1. Expected minimum annual spend: Rs.1 lakh 
  1. For every Rs.100 spent on PoS and e-commerce, cardholders will earn two reward points. 
  1. Reward points can be redeemed for cashback or goods via www.canararewardz.com. 
  1. The card offers complimentary access to selected domestic and international lounges. 
  1. Seasonal travel offers on Canara Cards. 

Current GoIbibo offer includes: 

  1. 12% off on domestic flight bookings 
  1. 15% off on hotel bookings 
  1. 9% off on bus bookings 
  1. 10% off on outstation cab bookings 

Insurance and Protection Benefits 

  1. Fraudulent transaction cover: Rs.5 lakh 
  1. Purchase protection cover: Up to Rs.25,000 
  1. Baggage insurance: Up to Rs.25,000 

Air accident cover: 

  1. Rs.8.00 lakh for self 
  1. Rs.4.00 lakh for spouse 

Non-air accident cover: 

  1. Rs.4.00 lakh for self 
  1. Rs.2.00 lakh for spouse 
  1. Offers easy EMI conversion through Canara ai1 app. 

Benefits of Canara Bank MasterCard World Credit Card

The Canara Bank MasterCard World Credit Card offers a host of benefits to the cardholders which are mentioned below: 

  1. Offers interest-free credit on purchases of up to 50 days. 
  1. Provides access to ATM cash withdrawals and other non-financial services. 
  1. Shop at PoS terminals at merchant outlets across the country. 
  1. Enjoy online shopping with exclusive discounts and offers. 
  1. Earn reward points on every PoS and e-commerce transaction. 
  1. Accepted both domestically and internationally. 
  1. Charges zero annual, joining, and enrolment fees. 
  1. Domestic Airport Lounges: 3 visits per quarter for self and 2 guest entries per quarter
  1. International Airport Lounges: 2 visits per year for self and 2 guest entries per year

Eligibility Criteria for Canara Bank MasterCard World Credit Card

The eligibility criteria that must be fulfilled to apply for Canara Bank MasterCard World Credit Card are mentioned below: 

  1. For individuals, the gross annual income is a minimum of Rs.10 lakh. 
  1. For staff members, the minimum gross annual income and net take home salary per month are Rs.60,000 and Rs.4000, respectively.

Fees and Charges of Canara Bank MasterCard World Credit Card

The fees and charges applicable on Canara Bank MasterCard World Credit Card are given in the table below: 

Fees and charges 

Amount 

Enrolment fee 

Nil 

Annual fee 

Nil 

Inactivity fee (If the turnover of the card in the card year is less than Rs.2 lakh) 

Rs.300 

Credit-free period 

20 to 50 days 

Card replacement fee (for both primary and add-on card) 

Rs.300 per card 

Revolving amount charges 

30% per annum (2.50% per month) 

Minimum Amount Due - MAD 

5% of the total amount outstanding (minimum of Rs. 100) plus all applicable charges/fees/taxes plus EMI (if EMI availed by cardholder) plus over the limit amount (if any) 

Foreign currency markup 

3% 

Cheque dishonor charges 

Rs.50 

EMI Processing Fee 

2% of transaction amount (Minimum and maximum of Rs.100 and Rs.200, respectively) 

Rate of Interest on EMI 

13% p.a. for EMI period of three, six and nine months14% p.a. for EMI period of 12,18 and 24 months. 

Fuel surcharge 

1% of transaction value with minimum fee of Rs.10 plus applicable taxes. 

Transaction fee for cash withdrawal 

3% of the transaction amount (Minimum of Rs.30 for every Rs.1000) 

Late payment charges 

Rs. 250 plus GST will be charged in addition to the existing service charges on carried over balance. 

Note: 

  1. All the above charges are excluding of 18% GST (Goods and Services Tax). 
  1. Changes in fees and charges are at the discretion of the bank. 
  1. Pocket expenses for any services will be in addition to the fees or charges mentioned in the table above. 

FAQs on Canara Bank MasterCard World Credit Card

  • Does the Canara Bank MasterCard World credit card offer airport lounge access?

    Yes, cardholders enjoy complimentary access to selected domestic and international airport lounges that include three self and two guest access at domestic airport per quarter; and two self and two guest access at international airport per year. 

  • How does the rewards program on the Canara Bank MasterCard World credit card work?

    You earn reward points on eligible purchases which can be redeemed for gifts, vouchers, or other benefits through Canara Bank's rewards platform. 

  • Where can I use the Canara Bank MasterCard World Credit Card?

    You can use this card at millions of merchants and ATMs worldwide where MasterCard is accepted, including online and international transactions. 

  • Are there any annual or joining fees for the Canara Bank MasterCard World Credit Card?

    No, there is no annual or joining fee for the Canara Bank MasterCard World Credit Card. 

  • Can I opt for EMI conversion using the Canara Bank MasterCard World Credit Card?

    Yes, you can opt for EMI conversion for purchases made using the Canara Bank MasterCard World Credit Card through the Canara ai1 app. 

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