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Canara Bank Mastercard World Credit Card

Canara Bank Mastercard World Credit Card

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

Annual Fee

₹0

Base Rate

2.0%

Reward Type

Points

Overview

The Canara Bank Mastercard World Credit Card is a Premium 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: Minimum gross annual income of ₹10 lakh.

Reward Rates & Cashback Rules

  • ALL_ONLINE: 2.0% cashback
  • CATEGORY – Fuel: 0.0% cashback ⚠️ No reward points on fuel transactions.
  • CATEGORY – Cash Withdrawal: 0.0% cashback ⚠️ No reward points on cash withdrawals.

Key Features & Benefits

  • Domestic Lounge Access ✈️: 3 complimentary domestic lounge visits per quarter, inclusive of guest access.
  • International Lounge Access 🌍: 2 complimentary international lounge visits per year, inclusive of guest access.
  • Insurance Coverage 🛡️: Comprehensive insurance including Air Accident cover (up to ₹8 lakh), Purchase Protection (up to ₹25,000), and Fraudulent Charges Cover (up to ₹5 lakh).
  • Interest-Free Credit ⏳: Up to 50 days of interest-free credit period on your purchases.

Eligibility Criteria

Minimum gross annual income of ₹10 lakh.

Features & Benefits

✈️

Domestic Lounge Access

3 complimentary domestic lounge visits per quarter, inclusive of guest access.

🌍

International Lounge Access

2 complimentary international lounge visits per year, inclusive of guest access.

🛡️

Insurance Coverage

Comprehensive insurance including Air Accident cover (up to ₹8 lakh), Purchase Protection (up to ₹25,000), and Fraudulent Charges Cover (up to ₹5 lakh).

⏳

Interest-Free Credit

Up to 50 days of interest-free credit period on your purchases.

Cashback Engine Rules

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

All Online Spends
Reward: 2.0%
2%
Fuel Exclusion
⚠️ Exceptions: No reward points on fuel transactions.
Cash Withdrawal Exclusion
⚠️ Exceptions: No reward points on cash withdrawals.

Value Chart

Assuming basic spends for Canara Bank Mastercard World Credit Card

Category Canara Bank Mastercard World Credit Card Axis Bank Atlas Credit Card Miles & More World Select Credit Card BOBCARD Eterna Credit Card
₹
Joining Fee 		₹0 ₹0 ₹0 ₹0
₹
Annual Fee 		₹0 ₹5000 ₹4500 ₹2499
🌍
Forex Markup 		3.5% 3.5% 3.5% 3.5%
%
Base Rate 		2.0% 2.0% 3.0% 3.0%
★
Known Rules 		3 rules 11 rules 9 rules 10 rules

Pros & Cons

✓

Pros

  • + All Spends — 2.0% Points
  • + Domestic Lounge Access
  • + International Lounge Access
  • + Insurance Coverage
  • + Interest-Free Credit
✗

Cons

  • − No reward on Fuel — No reward points on fuel transactions.
  • − No reward on Cash Withdrawal — No reward points on cash withdrawals.
  • −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

  • › High spenders who can offset the annual fee through rewards
  • › Frequent flyers who value unlimited airport lounge access
  • › Travellers who use hotel & lifestyle benefits regularly

👎 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 is a lifetime-free credit card with no joining or annual fees. However, an inactivity fee of ₹300 is levied if total spending is less than ₹1,00,000 in a year.

You earn 2 reward points for every ₹100 spent. Each point is worth ₹0.25, which translates to an effective reward rate of 0.50% on all eligible spends.

Yes, it provides 3 complimentary domestic lounge visits per quarter and 2 complimentary international lounge visits per year.

Yes, reward points are not awarded for fuel transactions and cash withdrawals.

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