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Canara Bank
Canara Bank Mastercard Gold Secured Credit Card
Mastercard
Canara Bank Mastercard Gold Secured Credit Card
The Mastercard variant of Canara Bank's FD-secured Gold card, carrying stronger insurance cover than the Visa Gold Secured card but still no lounge access — a fine alternative for depositors who prefer or already primarily use Mastercard-accepting merchants.
Annual fee
₹0
Joining fee
₹0
Reward type
points
Base reward rate
0.5%
Card network
Mastercard
Card tier
Entry
Who this card fits
Best suited to applicants who clear the standard eligibility bar. It's a lifetime-free card with no fee to track.
Rewards & benefits
- Rewards rate: 0.5% base rate
- Domestic lounge access: Not offered on Gold-tier cards per Canara's variants sheet
- International lounge access: Not offered on this card
- Golf: Not offered
- Insurance benefits: Fraudulent charge cover up to ₹5L; air accident cover ₹8L (self)/₹4L (spouse); other accident cover ₹4L (self)/₹2L (spouse); baggage and purchase protection up to ₹25,000 each
Benefits by category
- 🛡️ Insurance
Fraudulent charge cover ₹5L; air accident cover ₹8L (self)/₹4L (spouse); baggage/purchase protection ₹25,000 each
- 🌍 Forex / international spend
3% forex markup on international transactions
Eligibility
Fees & charges
- Rewards redemption fee: No fee to redeem reward points via Canara RewardZ
- Foreign currency markup: 3%
- Fuel surcharge waiver: 1% fuel surcharge waived up to ₹100/month, requires minimum ₹2,500 monthly purchase spend and ₹400+ per fuel transaction
- Cash advance charges: 3% of the withdrawal amount (₹30 per ₹1,000), subject to a minimum of ₹150; capped at 50% of credit limit or ₹50,000, whichever is lower
Benefits
- Credit limit linked to a pledged Canara Bank fixed deposit, minimum ₹25,000 limit
- Fraudulent charge cover ₹5L; air accident cover ₹8L (self)/₹4L (spouse); baggage/purchase protection ₹25,000 each
Pros
- + No income proof or credit history required
- + Mastercard acceptance at a very wide range of merchants
- + FD keeps earning interest while securing the card
Cons
- − Entry-level rewards with no bonus categories
- − Minimum ₹25,000 FD requirement
- − Feature set is largely identical to Canara's Visa Gold Secured card, so the network is the only real differentiator