Should I get a Canara Bank credit card?

Yes, a Canara Bank credit card is a great financial instrument to have at your disposal. The card comes with a number of attractive rewards and benefits. Some popular credit card offerings from the bank are: Canara RuPay Select Credit Card Canara RuPay Platinum Credit Card Canara RuPay Secured Credit Card Canara Bank Credit Card: Classic/Standard Canara Bank Gold Credit Card Canara Bank MasterCard WORLD Credit Card

Canara Bank Credit Card Charges: Check out Canara Credit Card Fees & Charges

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Canara Bank credit cards are designed to cater to and compliment your unique lifestyle requirements. You can use one for online shopping, retail purchases, utility bill payments, etc. However, to be able to use and manage your credit card efficiently, you must also be aware of the applicable Canara Bank credit card charges. Read on to know all about it.

What are the Different Types of Canara Bank Credit Card Charges and Fees?

Some of the Canara Bank credit card charges that you might come across under various scenarios are mentioned below:

Canara Bank Credit Card Interest Rate: The interest rate or finance charge is the amount charged against the outstanding balance on your Canara Bank credit card statement post the due date. Do note that you are required to pay a minimum of 5% of the total outstanding due to be eligible for the revolving credit interest charges.
Canara Bank Credit Card Annual Charges: The Canara Bank credit card annual fee is the amount levied yearly to maintain your credit card account.
Canara Bank Credit Card Enrolment Fee: This is the amount of money charged when you enrol for a Canara Bank credit card.
Canara Bank Credit Card ATM Withdrawal Charges: Also known as the Canara Bank credit card cash withdrawal charges, this is the amount you must pay when you use the card to withdraw cash at an ATM. It is calculated as a percent of the transaction amount.
Canara Bank Credit Card Inactivity Fee: As the name suggests, this charge is levied when you do not use a certain amount of money on your card in a stipulated time.
Canara Bank Credit Card Late Payment Fee: This is the fee charged on the outstanding balance if you fail to clear the bill by the payment due date.

Top 6 Canara Credit Card Charges and Fees

Here are the fees and charges associated with some of the top credit cards from Canara Bank:

1. Canara RuPay Select Credit Card

Type of Charge	Amount (in ₹ or %)
Annual Charges	Nil
Enrolment Fee	Nil
Cash Withdrawal Fee	3% of the transaction or ₹30, whichever is higher for every ₹1,000 withdrawn
Inactivity Fee	₹300 per annum if the usage is below ₹1,00,000 per annum
Interest on Revolving Credit	2.5% per month
Late Payment Charges	2% of outstanding balance + GST

2. Canara RuPay Platinum Credit Card

Type of Charge	Amount (in ₹ or %)
Annual Charges	Nil
Enrolment Fee	Nil
Cash Withdrawal Fee	3% of the transaction or ₹30, whichever is higher for every ₹1,000 withdrawn
Inactivity Fee	₹200 per annum if the usage is below ₹50,000 per annum
Interest on Revolving Credit	2.5% per month
Late Payment Charges	2% of outstanding balance + GST

3. Canara RuPay Secured Credit Card

Type of Charge	Amount (in ₹ or %)
Annual Charges	Nil
Enrolment Fee	Nil
Cash Withdrawal Fee	3% of the transaction or ₹30, whichever is higher for every ₹1,000 withdrawn
Interest on Revolving Credit	2% per month
Late Payment Charges	2% of outstanding balance + GST

4. Canara Bank Credit Card: Classic/Standard

Type of Charge	Amount (in ₹ or %)
Annual Charges	Nil
Enrolment Fee	Nil
Cash Withdrawal Fee	3% of the transaction or ₹30, whichever is higher for every ₹1,000 withdrawn
Inactivity Fee	₹200 per annum if the usage is below ₹50,000 per annum
Interest on Revolving Credit	2.5% per month
Late Payment Charges	2% of outstanding balance + GST

5. Canara Bank Gold Credit Card

Type of Charge	Amount (in ₹ or %)
Annual Charges	Nil
Enrolment Fee	Nil
Cash Withdrawal Fee	3% of the transaction or ₹30, whichever is higher for every ₹1,000 withdrawn
Inactivity Fee	₹200 per annum if the usage is below ₹50,000 per annum
Interest on Revolving Credit	2.5% per month
Late Payment Charges	2.5% of outstanding balance + GST

6. Canara Bank MasterCard WORLD Credit Card

Type of Charge	Amount (in ₹ or %)
Annual Charges	Nil
Enrolment Fee	₹2,000 (one-time)
Cash Withdrawal Fee	3% of the transaction or ₹30, whichever is higher for every ₹1,000 withdrawn
Interest on Revolving Credit	2.5% per month
Late Payment Charges	2% of outstanding balance + GST

DISCLAIMER

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees and charges with regard to any credit card, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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Yes, certain charges are levied on Canara Bank credit cards. These include Canara Bank credit card annual charges, enrolment fee, cash withdrawal charges, interest charges on revolving credit, inactivity fees, etc.

The Canara Bank credit card annual fee is the amount levied against your card for maintenance. However, most Canara Bank credit cards do not levy an annual fee.

If you fail to clear your Canara Bank credit card bill by the payment due date, you will be charged a late payment fee. This will be 2% of outstanding balance plus GST.

There is no annual or joining fee associated with the Canara Bank Platinum credit card.

Yes, a Canara Bank credit card is a great financial instrument to have at your disposal. The card comes with a number of attractive rewards and benefits. Some popular credit card offerings from the bank are:

Canara RuPay Select Credit Card
Canara RuPay Platinum Credit Card
Canara RuPay Secured Credit Card
Canara Bank Credit Card: Classic/Standard
Canara Bank Gold Credit Card
Canara Bank MasterCard WORLD Credit Card

Some of the most common charges associated with Canara Bank credit cards include annual fee, enrolment fee, cash withdrawal fee, interest charges, and late payment charges. Please note that the charges that you may have to bear will depend on the credit card variant, issuer’s policies, your usage, etc. So, it’s best to get in touch with your credit card issuer to familiarise yourself with fees and charges associated with your card.

Credit card annual fees can be refundable sometimes. Oftentimes, you’ll be offered reward points and/or vouchers equivalent to the annual fee amount. Other times, your annual fee charge may be reversed if you cross a specified spending threshold. It entirely depends on the type of card you have, your credit card issuer’s policies, and your usage.

Canara Bank does charge an inactivity fee on some credit cards if you don’t meet a predetermined spending limit. For example, you’ll have to pay ₹300 as inactivity fees if you spend less than ₹1,00,000 on your Canara RuPay Select Credit Card.

No, annual fees need not be a bad thing. These fees can help the credit card issuer offer you a better credit card experience. A lot of the times, you’ll be able to get your annual fee reversed if your spends exceed the predetermined threshold.