In 1906 Corporation Bank came into existence as Canara Banking Corporation (Udupi) Limited in Udupi. The Bank was founded by a group of visionaries with the primary objective to inculcate the habit of saving among the people of all classes. In the year 1939, the Corporation was renamed as Canara Banking Corporation Limited. In 1972 once the Corporation was renamed as Corporation Banking Limited. Post nationalisation of the Bank in the year 1980 Corporation Banking Limited became Corporation Bank. The Head Office of the Bank is at Mangalore.
At present, the Bank has a wide network of 2501 fully automated branches and 3169 ATMs and 4724 branchless banking units. The representative offices of the Bank are in Dubai and Hongkong. The Bank has issued smart cards to natives of 4724 villages to enable them to operate their accounts at their doorstep through the Business Correspondents of the Bank.
The Bank offers a variety of banking products and services constituting of consumer banking products, corporate banking, e-commerce, retailing banking products, finance and insurance investment, asset management, and wealth management. Corporation Bank also has various credit cards with immense benefits and offers. The rate of interest charged on the transactions with the card is very competitive and the fee for the cards are also nominal. The bank has tie-up with popular brands to offer EMI options on purchases and to offer specialised discounts.
Corporation Bank International Credit Card with the following variants
The following are the features and benefits of Corporation Bank Credit Card
The detailed features of the cards are as mentioned in the table below.
|Name of the card||Features|
The details of rewards for the different types of Corporation Credit Card is as mentioned below:
The reward points can be redeemed at 1 per reward point. The points can be redeemed on an accumulation of 500 points for Classic and Gold Cards, 750 points for Platinum Card and 1000 points for Signature Card.
Reward points of the cardholders with accumulated points as per the requirement will be credited to the card account in the month of April every year irrespective of receiving a request from the cardholder. If the points are below the required level it will lapse after year.
The details of the fees for Corporation Bank Credit Card is as given below:
|Name of the card||Joining Fee||Annual Fee|
|Platinum Card||Nil||230/- for both primary and add-on cards (waived on an annual spend of 25000/- on the primary card and 15000/- on each add-on card|
|Signature Card||Nil||900/- for both primary and add-on cards (waived on an annual spend of 1.00 lakh on the primary card and 50,000/- on each add-on card)|
|Name of the card||Amount|
|Finance charges||2.5% p.m. for Classic card, 2.25% p.m. for Gold Card, 2.75%p.m. for Platinum Card and 3% p.m. for Signature Card|
|Cash withdrawal charges||2.5% of the transaction amount with a minimum of 150/- for Classic and Gold Cards and 250/- for Platinum and Signature Cards|
|Interest on Cash Advance||2.25% p.m. for Classic Card, 2.5% p.m. for Gold Card, 2.75% p.m. for Platinum Card and 3% p.m. for Signature Card|
|VISA ATM access charges||50/- per transaction|
|Delayed payment charges||30% of the minimum amount due with a minimum of 100/- for Classic, Gold and Platinum Cards and a minimum of 250/- for Signature Card and a maximum of 500/- for Classic and Gold Cards, 750 for Platinum Card, and 1000/- for Signature Card.|
|Charges for the usage of the card over and above the limit||2% of the overdrawn amount with a minimum of 100/- for Classic and Gold Cards and a minimum of 250/- for Platinum Card and 500/- for Signature Card.|
|Cheque bounce charges||100/- for Classic Card, 200/- for Gold Card, 250/- for Platinum Card and 500/- for Signature Card per instance|
|Duplicate statement charges beyond 3 months||100/- per statement|
|Card replacement charges||100/- per occasion for Classic and Gold Cards and 250/- for Platinum and Signature Cards.|
|Balance transfer charges||1% of the balance transfer with a minimum of 100/- for Classic and Gold cards, 250/- for Platinum Card, and RS. 500/- for Signature Card as the processing charge and 1.5% p.m. interest for the first 75 days in case of Classic Card and for the first 90 days all the other cards and thereafter interest as applicable to the revolving facility|
|Fuel surcharge||2.5% of the transaction with a minimum of 10/-|
|Railway booking surcharge||As levied by IRTC|
|Foreign currency mark-up fee||3.5% of the transaction|
|Charge slip retrieval charges||100/- per charge slip for Classic Card and 150/- per charge slip for all the other Cards.|
Interest on reducing balance
1% of the amount with a minimum of 100/- for the classic card, 200/- for Gold Card and Platinum Card and 300/- for Signature Card
2% of the outstanding amount
Up to 6 months: 16% p.a.
Beyond 6 months: 18% p.a.
New Customers should follow the following steps to apply for the Credit Card.
You should make use of the digital platform provided by MyMoneyMantra for applying for the card.
To apply for the Corporation Bank Credit Card offline, you can download the application online and submit the same along with the required documents at the nearest Corporation Bank branch.
The following are the eligibility criteria for Corporation Bank Credit Card
The following documents are required to apply for Corporation Bank Credit Card.
Payment of Corporation Bank Credit Card dues can be made by the following methods:
For any queries regarding the credit card you can call the Customer Care on these numbers:
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The following factors affect the eligibility for Corporation Bank Credit Card.
The interest-free period for Corporation Bank Credit Card is 50 days.
The interest charged is 2.25% to 3% p.m. depending upon the card.
A processing fee of 1% of the balance transfer amount will be charged for the balance transfer facility.
The charges associated with the EMI facility on Corporation Bank Credit Card are:
The billing date for Classic Cards will be the 21st of every month and the dues should be paid within 15 days from the billing date. The billing date is the 26th of every month for all other cards and the dues should be paid within 20 days from the billing date.
The card is issued with a photo and the digitally imprinted signature of the cardholder to make it safe for transactions at merchant establishments as the Photocard will serve the purpose of Photo ID. The card has an EMV chip embedded to protect it against skimming and fraudulent transactions. A 3D security code is enabled and OTP is generated for transactions online which will be sent to the registered mobile number of the cardholder to authorise the transaction.