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Canara Bank Mastercard Gold Credit Card

✍️ Fact-checked by Parash Editorial • 🔄 Updated May 2026
Canara Bank Mastercard Entry

Annual Fee

₹0

Base Rate

2.0%

Reward Type

Points

Overview

The Canara Bank Mastercard Gold Credit Card is a Entry credit card issued by Canara Bank on the Mastercard network. It offers a base reward rate of 2.0% on all spends, with rewards issued as Points(1 pt = ₹0.25).

Annual Fee: Lifetime Free
Eligibility: Min. ₹2 lakh gross annual income, age 21-60, CIBIL ≥ 750.

Reward Rates & Cashback Rules

  • CATEGORY – All Spends: 2.0% cashback ⚠️ Transactions are rounded down to the nearest ₹100 for point calculation. Excludes Fuel, Rent, EMI, and Wallet Loads.
  • CATEGORY – Fuel: 0.0% cashback
  • CATEGORY – Rent: 0.0% cashback
  • CATEGORY – Wallet Load: 0.0% cashback
  • CATEGORY – EMI: 0.0% cashback

Key Features & Benefits

  • Comprehensive Insurance Cover 🛡️: Includes Air Accident Insurance (up to ₹8 lakh), Other Accident Insurance (up to ₹4 lakh), Baggage Insurance (up to ₹25,000), and Purchase Protection (up to ₹25,000).
  • Fuel Surcharge Reimbursement ⛽: 1% fuel surcharge waiver (up to ₹100/month) on transactions of ₹400 or more, subject to minimum ₹2,500 non-fuel spend in the billing month.
  • Interest-Free Credit Period ⏳: Enjoy an interest-free period of up to 50 days on your purchases.

Eligibility Criteria

Min. ₹2 lakh gross annual income, age 21-60, CIBIL ≥ 750.

Features & Benefits

🛡️

Comprehensive Insurance Cover

Includes Air Accident Insurance (up to ₹8 lakh), Other Accident Insurance (up to ₹4 lakh), Baggage Insurance (up to ₹25,000), and Purchase Protection (up to ₹25,000).

⛽

Fuel Surcharge Reimbursement

1% fuel surcharge waiver (up to ₹100/month) on transactions of ₹400 or more, subject to minimum ₹2,500 non-fuel spend in the billing month.

⏳

Interest-Free Credit Period

Enjoy an interest-free period of up to 50 days on your purchases.

Cashback Engine Rules

The exact calculator logic parameters extracted from the terms & conditions.

All Spends
Reward: 2.0% Min Spend: ₹100.0
⚠️ Exceptions: Transactions are rounded down to the nearest ₹100 for point calculation. Excludes Fuel, Rent, EMI, and Wallet Loads.
2%
Fuel Exclusion
Rent Exclusion
Wallet Load Exclusion
EMI Exclusion

Value Chart

Assuming basic spends for Canara Bank Mastercard Gold Credit Card

Category Canara Bank Mastercard Gold Credit Card Axis Bank Neo Credit Card LIC Axis Bank Platinum Credit Card Axis Bank Kwik Credit Card
₹
Joining Fee 		₹0 ₹0 ₹0 ₹0
₹
Annual Fee 		₹0 ₹250 ₹0 ₹0
🌍
Forex Markup 		3.5% 3.5% 3.5% 3.5%
%
Base Rate 		2.0% 0.5% 1.0% 1.0%
★
Known Rules 		5 rules 11 rules 11 rules 11 rules

Pros & Cons

✓

Pros

  • + All Spends — 2.0% Points
  • + Comprehensive Insurance Cover
  • + Fuel Surcharge Reimbursement
  • + Interest-Free Credit Period
✗

Cons

  • − No reward on Fuel
  • − No reward on Rent
  • − No reward on Wallet Load
  • − No reward on EMI
  • −Forex markup of 3.5% on international spends

Our Verdict

₹ Real Value Calculation (assumed ₹3L/year spend)

Est. Annual Rewards

₹6000

Annual Fee

₹0

Net Value

+₹6000

✅ At ₹3L/year spend, base rewards alone cover the fee. Additional benefits like lounge access add further value.

👍 Best For

  • › First-time credit card users looking to build credit
  • › Low-to-medium spenders wanting simple cashback

👎 Not Worth It If…

  • › You spend heavily in foreign currency — 3.5% markup adds up fast
  • › You rarely use premium benefits like lounges or concierge
  • › You prefer a no-annual-fee card with simpler terms

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Frequently Asked

This card is lifetime free, meaning it has no joining fee and no annual fee. However, an inactivity fee of ₹150 is charged if total spending is less than ₹25,000 in a year.

Each reward point is valued at ₹0.25. Points can be redeemed for cashback (minimum 1000 points) or for merchandise on the Canara Rewardz portal.

No, the Canara Bank Mastercard Gold Credit Card does not come with complimentary airport lounge access.

You earn 2 reward points for every ₹100 spent, which is equivalent to a 0.5% cashback rate since 1 point is worth ₹0.25.

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