Canara Bank RuPay Select Credit Card: Apply Now | Lounge Access

One of the most public sector banks in India, Canara Bank offers a lifetime free credit card named the Canara Bank RuPay Select Credit Card. This Canara bank credit card offer is full of countless benefits for the cardholders. Just as the name is more than descriptive, the card works on the RuPay platform. RuPay comes highly recommended in the country as it is its homegrown card payment network. Thus, this card has gained great popularity due to its high reliability and vast acceptance of the network.

Designed for those who wish to derive rewards on their daily spending, the Canara Bank RuPay Select Credit Card offers features of insurance cover, low interest rates, and more opportunities to earn award points linked to spending. For a basic no-frills credit card that also offers decent reward points and insurance coverage, this may be one of your deals. 

This comprehensive guide covers everything, including the features, benefits, fees, and the application process for Canara Bank’s RuPay Select Credit Card.

Features of Canara Bank RuPay Select Credit Card

Here are some of the most notable features of the Canara Bank RuPay Select Credit Card:

1. Reward Points on Every Transaction

• Earning Rewards: On every transaction, award points It has the opportunity to earn 2 reward points for every Rs 100 spent on any purchase using the Canara Bank RuPay Select Card. This is applicable for all purchases, even at online e-commerce transactions, hence making it a very rewarding card for any online shopping.
• Redemption: The reward points can be accrued to be used for purchasing goods, services, or cash. Every reward point is valued at Rs. 0.25, so redemption becomes easy and simple by allowing users to use those points for genuine benefits.

2. No joining or annual fee

• One of the main attractive benefits of the Canara Bank RuPay Select Credit Card is that it does not come with any joining fee or annual renewal fee. It is a lifetime-free card that is infrequently available in the market and, as such, could be extremely appealing to consumers who seek to avoid periodic charges for their cards.

3. Low Interest Rates

• It offers an interest rate of 2.5% a month or 30% for the year on any outstanding amount. The other credit cards usually demand much higher respective interests. So, the respective card is more user-friendly to the cardholders who cannot settle the whole amount every month and some amount remains to carry forward.

4. Fuel surcharge waiver

• Cardholders receive a 1% waiver on fuel surcharges when they pay for fuel from any petrol station across India at a petrol pump using their Canara Bank RuPay Select Credit Card. This is one of the most useful facilities for those people who frequently drive and refuel their vehicles.

5. Comprehensive Insurance Coverage

• One of the features that distinguish the Canara Bank RuPay Select Credit Card from other basic credit cards is its insurance coverage. The card provides the following:
  • Personal Accidental Death Insurance: Up to Rs. 10 lakhs.
  • AIR Accident:
    • ₹ 8.00 lakhs for self
    • ₹ 4.00 lakhs for spouse
  • Other than Air Accident:
    • ₹ 4.00 lakhs for self
    • ₹ 2.00 lakhs for spouse
  • Permanent Disability Insurance: These insurance facilities are highly important in order not to have any trouble losing one’s life or permanently losing organs. 

6. Complimentary Domestic Lounge Access

• The Canara RuPay Select Credit Card offers free airport lounge access in many domestic airports. This is a great comfort, as it allows the passenger to relax before the flight, thus easing up on the travel tension and strain. There are no benefits in the form of international lounge access, but it might be helpful if you travel frequently within the country.

Two Free Access per quarter.

• Covers 30 Lounges across 11 cities in India

Lounge Access Program – International

• Two Free Access per year – covers 500+ Lounges across 300+ cities worldwide.

7. Zero Liability for Unauthorised Transactions

• Cardholders are protected against unauthorised transactions if they report the loss of their card. Any transactions that have been made beyond the Rs. 1000 limit after reporting loss will not be the responsibility of the cardholder. This gives them peace of mind in case of card theft or fraud.

8. Short-Term Offers on Leading Brands

• Offers a short-term deal with popular brands such as Amazon, BigBasket, Croma, OYO, and Pharmeasy.

Benefits of Canara Bank RuPay Select Credit Card

The Canara Bank RuPay Select Credit Card is chock-full of all sorts of rewards and other essentials that would make it a highly holistic option for its cardholders. Let’s explore these in more detail:

1. Reward Point Redemption

• Reward points from the Canara Bank RuPay Select Credit Card could be redeemed in plenty of ways. The redemption options include:
  • Cashback: There is the opportunity to redeem such an accumulation for cashback, which would be added on to their account and set off against outstanding balances.
  • Merchandise and Services: Points can be utilised to shop online from the portal of Canara Bank’s rewards for goods or services.
  • Redemption Limits: The minimum number of reward points one could redeem for cash redemption is 1000, while to buy goods and services, there is a minimum of 100 points.
  • Validity of Reward Points: The reward points issued will be valid for three years from the date of accrual. This enables a cardholder to accumulate enough of them and redeem them in time.

2. Insurance Benefits

• Maximum personal accident insurance cover of Rs. 10 lakhs is a bonus for the cardholder. Insurance cover will provide his or her beneficiaries with financial support in case of accidental death or permanent disability, god forbid.

3. No Fees for Active Accounts

• The card has no joining fee or annual fee, though it charges a nominal inactivity fee of Rs. 300 when the total spent during the year reduces below Rs. 10,000. Thus, it would keep encouraging usage of the card irrespective of low spending. However, in the worst case, this should not prove too costly.

4. Fuel surcharge waiver

• The 1% fuel surcharge waiver helps cardholders save on fuel expenses, which can add up over time for individuals who frequently use their vehicles for commuting or travel.

5. Zero Foreign Transaction Fees

• The foreign currency markup fee is 3.5%, which is almost at par with other credit cards in India. Though not the lowest in the market, this ensures that cardholders can make foreign transactions without their credit cards accumulating high charges.

Canara bank rupay select credit card – Fees and Charges

The Canara Bank RuPay Select Credit Card comes with a low fee structure, thereby making the credit card highly accessible and cost-effective for the cardholder. Below is a summary of the major fees and charges.

• Joining Fee: Nil (lifetime free)
• Annual Fee: Nil
• Inactivity Fee: Rs. 300 (if total annual spends are less than Rs. 10,000).
• Interest Rate: 2.5% per month on outstanding balances
• Foreign Currency Markup: 3.5% of the transaction amount
• Cash Advance Fee: 3% of the cash amount, subject to a minimum of Rs. 30 for every Rs. 1000 withdrawn.
• Fuel Surcharge Waiver: 1% on all fuel transactions

Eligibility Criteria

Canara Bank has not specified precisely what the strict eligibility criteria for the RuPay Select Credit Card are. Based on the norms of the credit cards, the following points are likely to be applicable:

• Age: The primary cardholder should be at least 21 years old.
• Income: Applicants should have a stable source of income. Both salaried and self-employed individuals are eligible to apply.
• Credit History: A decent credit score and credit history are essential for approval.

Documents Required

The following documents are required to apply for the Canara Bank RuPay Select Credit Card:

1. Identity Proof: PAN Card, Aadhar Card, passport, voter ID, or driving licence.
2. Address Proof: Aadhar Card, voter ID, passport, driving licence, utility bills, or rent agreement.
3. Income Proof:
   • For salaried employees: recent salary slips and bank statements showing salary credits.
   • For self-employed individuals: Income Tax Returns (ITR) for the past financial year.

How to Apply for the Canara Bank RuPay Select Credit Card

To apply for Canara Bank RuPay Select Credit Card, there are two procedures available.

1. Offline Application

• Approach Canara Bank with all documents from the nearest branch.
• Fill out the physical application form and submit it along with all the documents required.
• The bank will process the application and, after approval, send the card to your registered address.

2. Online Application

• Login to the official website of Canara Bank.
• Under the menu of ‘Personal Banking’, click on ‘Card Services’ and select ‘Credit Cards’.
• Click on ‘Application forms and proceed further by choosing a form in Hindi and one in English.
• Download the form, fill it out, and submit it with your necessary documents at your nearest Canara Bank. 

Conclusion

Canara Bank RuPay Select Credit Card: The primary objective of this credit card is to reward customers with its value through the means of rewarding points, fuel surcharge waivers, and insurance benefits, where lifetime-free status is a part and parcel of it. Low interest and minimal fees underpin it as an amazing product from the house for card-strivers or everyday usage.

While it lacks international lounge access and other premium perks, the Canara Bank RuPay Select Credit Card is still a strong contender for those who would like a reliable and rewarding credit card.

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