Mangalore: As a festive bonanza, Corporation Bank a leading public sector bank based in Karnataka has announced a Cash Back Scheme on the credit and debit cards issued by the bank. Valid till 14, January 2008 this cash back offer will allow the card holders to earn cash rewards from 1 to 5 percent on domestic point of sale (POS) transactions. Whenever, a credit card or debit card from Corporation Bank is used for shopping, dining, or airline booking within India, the card holder will earn cash rewards. Each transaction will earn cash rewards separately and the upper limit on cash rewards is set at Rs. 1,000 per credit or debit card till the validity of offer. However, this cash back offer is not available for petrol purchases, railway bookings and ATM cash withdrawals. The table below shows the cash back reward rates: | Value of POS Transaction | Cash-Back rate | | Up to Rs. 250 | Nil | | Rs. 251 to 1000 | 1% | | Rs. 1001 to 2500 | 2% | | Rs. 2501 to 5000 | 3% | | Rs. 5001 to 10000 | 4% | | Rs. 10001 and above | 5% |
Corporation Bank as a part of its corporate social responsibility initiative will donate Rs. 5 to charitable institutions for the cause of underprivileged for every first swipe of unused cards during the period. Corporation Bank issues an International credit card and an International debit cum ATM card. |
