What Is A Canara Corporate Credit Card?
The popularity of credit cards in India has encouraged many people to launch credit cards for catering divergent needs of people. The Canara corporate credit card is one of them which is issued by bank to meet needs of its corporate clientele. As the term itself suggests, these cards are meant for non-individuals like partnership firms, tax consultants, public & private companies, firms of chartered accountants, public sector undertakings and many more.
What is the eligibility criterion?
The Canara corporate credit card is issued to all those companies which are enjoying the credit limit with the bank with S1 and S2 status. Those companies which do not have credit limits but are holding 12 months satisfactory dealings can also apply for this card. The card can also be issued to member affiliate banks.
What documents are required to submit along with credit card application?
The board resolution in accordance to the performa furnished by the credit card company/bank.
In case of firms, you will be required to submit constitution papers such as partnership deed and memorandum of association & article of association in case of companies.
Company’s financial statement for the past three years.
Any other important constitution papers/financial papers.
What is the card limit and sub-limit for cash withdrawal?
The company will be provided with a total credit limit, which can be shared by the add on cardholders, if the company wants. The card limit will be in multiples of Rs 5000, subject to the minimum of Rs 50,000 and maximum of Rs 25 lakh.
