Corp Bank Credit Card for Rs.10000 Income Earners

Corporation Bank Credit Card

A credit card can be an excellent financial instrument provided it’s right use is made.

Because it allows you to manage and plan purchases, credit card is a very useful financial tool for buying goods and services. But it can become a headache, if it is considered an additional income especially by low income earners as it is used irresponsibly. This mainly happens because of the lack of knowledge of managing a credit card.

There are many banks offering credit card for low income earners in India and Corporation Bank is one of them.

Corporation Bank Credit Cards for Low Income Earners

Corporation Bank offers following 5 international credit cards for different category of individuals (salaried, self employed, senior citizens and professionals). And each card has varying minimum monthly income:

  1. Gold
  2. Platinum
  3. Signature
  4. RuPay Platinum
  5. RuPay Select

Listed in the below table is the minimum net monthly and annual income required (in the bracket) to be eligible to apply for the card:

Applicant CategoryGold Credit Card - Net Monthly Income Required (Annual Income)Platinum Credit Card - Net Monthly Income Required (Annual Income)RuPay Platinum Credit Card - Net Monthly Income Required (Annual Income)Signature Credit Card - Net Monthly Income Required (Annual Income)RuPay Select Credit Card - Net Monthly Income Required (Annual Income)
SalariedRs. 15,000 (Rs. 1,80,000)Rs. 20,833 (Rs. 2,50,000)Rs. 20,833 (Rs. 2,50,000)Rs. 87,500 (Rs.10,50,000)Rs. 87,500 (Rs.10,50,000)
ProfessionalRs. 15,000 (Rs. 1,80,000)Rs. 25,000 (Rs. 3,00,000)Rs. 20,833 (Rs. 2,50,000)Rs. 87,500 (Rs.10,50,000)Rs. 87,500 (Rs.10,50,000)
Self EmployedRs. 16,667 (Rs. 2,00,000)Rs. 25,000 (Rs. 3,00,000)Rs. 20,833 (Rs. 2,50,000)Rs. 87,500 (Rs.10,50,000)Rs. 87,500 (Rs.10,50,000)
Senior CitizensRs. 10,000 (Rs. 1,20,000)Rs. 20,833 (Rs. 2,50,000)Rs. 20,833 (Rs. 2,50,000)Rs. 87,500 (Rs.10,50,000)Rs. 87,500 (Rs.10,50,000)

So as you can see in the above table, Rs. 10000 is the minimum income required to apply for a card. However this card is offered only for senior citizens with age up to 70 years.

However, if you are a salaried employee the net monthly income should be minimum Rs. 15,000. And for self employed, the net monthly income required is Rs. 16,667.

Documents Required:

  • Completely filled application form
  • Copy of PAN card
  • Photo ID & address proof
  • Income proof – (Last three months’ salary slip or ITR /Form 16 of last two years)

Features and Benefits of Corporation Bank Credit Card

There are many benefits offered to corp bank credit card users. Few of the important benefits are as follows:

  1. RuPay card offers 5% cashback at restaurants and other food joints
  2. RuPay card offers 5% cashback on utility bill payment.
  3. You can make purchases anywhere in the world and through any medium (i.e. Internet or physical store etc.).
  4. Primary card user can apply for add-on card for his/her parents, spouse, children and siblings above the age of 18 years.
  5. Free credit period is up to a maximum of 50 days.
  6. Card user can pay the minimum amount due and carry forward the balance as revolving credit.
  7. There are 6 payment options to pay the bill – cash, cheque/DD, auto debit, Visa money transfer, corp bank internet banking, internet banking of other banks.
  8. 1 point for every Rs.150/- spent on the Gold card
  9. 1 point for every Rs.125/- spent on Platinum and Signature Card
  10. Rs. 2,50,000 personal accident coverage against loss of life on Gold card for 1 year
  11. Rs. 5,00,000 personal accident coverage against loss of life on Platinum card for 1 year
  12. Rs. 50,00,000 personal accident coverage against loss of life on Signature card for 1 year
  13. No joining fee on Platinum and Signature card


  1. If card is used for ATM cash withdrawal, 2.50% transaction fee is charged.
  2. 30% of the total amount due is the late payment charge.
  3. If card is replaced then the charge for the new card is Rs. 250
  4. If you enhance the credit limit, then Rs. 200 is charged for every enhancement.
  5. For any international transaction done using the card, 3.5% of the foreign currency amount is charged.
  6. If card is used above the credit limit then 2.5% of the over limit amount is used.
  7. Using it without liability can lead to debt that can jeopardize your financial health.

Eligibility Criteria:

Applicant should be:

  • Indian citizen
  • Age should not be more than 70 years
  • Must have PAN number
  • Must be customer of Corporation bank
  • Should have valid mobile number

Points to keep in mind before applying for a credit card

Now, before you get a credit card, it’s important that you consider the following:

(1) Interest rate on Gold card is 2.25% per month, Platinum is 2.75% per month, Signature is 3.00% per month. So be careful when using the card and always make full payment before the due date every month, to avoid penalty.
(2) Measure your ability to pay, in order to know not only what the maximum amount you can use to pay the card without compromising other obligations, but also to choose an option either with a lower annuity or with a lower interest rate.
(3) Have a good credit history and good payment behavior, which will allow you to access the card you want and better benefits such as a larger line of credit, respectively.

Author Bio:

Hi, I am Nikesh Mehta owner and writer of this site.

Nikesh Mehta - ImageI’m an analytics professional and also love writing on finance and related industry. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business.

I can be reached at [email protected]. You may also visit my LinkedIn profile.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.