Canara Mastercard Platinum Credit Card
Canara Bank
Last updated: Dec 02, 2025
₹0
₹0
3%
10 visits/yr
Contents
Canara Mastercard Platinum Credit Card is a lifetime-free credit card from Canara Bank designed for frequent travellers and everyday spenders who want value without paying annual fees. You get up to 50 days of interest-free credit, 2 reward points per ₹100 on POS and e-commerce spends, and complimentary domestic and international airport lounge access at select Mastercard lounges. The card also offers fuel surcharge waiver, travel accident insurance, purchase protection and high credit limits up to ₹50 lakh, making it an excellent all-round Canara Bank credit card for airport lounge access, travel, shopping and online payments.
Features of Canara Mastercard Platinum Credit Card which makes it unique
Lifetime Free Platinum Credit Card
Zero joining, annual and enrolment fees while still offering premium benefits like airport lounge access and travel insurance.
Ideal for customers who want a high-value travel and lifestyle credit card without paying annual charges.
Rare combination of lifetime free pricing plus complimentary domestic and international lounge access among public sector bank cards.
Comprehensive Protection Suite
Fraudulent transaction liability cover, air and non-air accident insurance, baggage cover and purchase protection built into one card.
Improves safety and peace of mind for frequent travellers and big-ticket shoppers.
More generous liability and accident covers than many entry-level and classic cards.
Rewards Structure of Canara Mastercard Platinum Credit Card
All Retail Spends
baseAll eligible POS and e-commerce retail transactions, excluding fuel, cash withdrawals and other categories restricted by Canara Bank’s credit card policy.
Base earn rate under the Canara Rewardz loyalty program on the Canara Mastercard Platinum Credit Card.
Online Shopping
baseE-commerce transactions on Indian and international websites where Mastercard is accepted.
Useful for customers who use the card for online shopping, bill payments and digital subscriptions.
Point Of Sale Transactions
baseIn-store purchases at merchant outlets using POS terminals across India and overseas.
Earn points on day-to-day spends such as groceries, dining, electronics and lifestyle shopping.
Fuel Transactions
baseFuel purchases at petrol pumps in India that levy a 1% surcharge on credit card transactions.
Card must be used for minimum ₹2,500 non-fuel purchase transactions in the billing month to qualify for surcharge reimbursement.
Milestones of Canara Mastercard Platinum Credit Card
Annual Spend Milestone – Inactivity Fee Waiver
₹50,000 annual card spends : Avoid the ₹200 inactivity fee by maintaining yearly spends of at least ₹50,000.
Monthly Fuel Surcharge Waiver
Minimum ₹2,500 non-fuel retail spends in a billing month : Fuel surcharge reimbursement up to ₹100 per billing month on eligible fuel transactions of at least ₹400 each.
Fees & Charges of Canara Mastercard Platinum Credit Card
| Fee & Amount | Fee Value |
|---|---|
| Joining Fee | 0 |
| Annual Fee | 0 |
| Forex Markup Fee | 3% |
| Cash Advance Fee | 3% |
| Late Payment Fee | ₹250 |
| Over Limit Fee | 0 |
| Returned Payment Fee | 50% |
| Cash Withdrawal Fee | 3% |
Renewal Conditions:No annual or renewal fee; the card is issued as a lifetime-free credit card subject to continued good standing.
Fee Explanation Most fees follow Canara Bank’s standard credit card schedule. There is no joining or annual fee. Cash withdrawals attract a 3% transaction fee (minimum ₹30 per ₹1,000 or part thereof) plus finance charges from the date of withdrawal. Late payment fee of ₹250 + GST is charged if payment is made after the due date, in addition to interest at 2.5% per month (30% p.a.) on the carried-forward balance. A ₹200 inactivity fee is charged if annual card spends are below ₹50,000.
Detailed Explanation of Canara Mastercard Platinum Credit Card Fees
Joining Fee: ₹0 (one-time)
No joining or enrolment fee; card is lifetime free.
Annual Fee: ₹0 (yearly)
No annual or renewal fee for primary or add-on cards as per current MITC.
Finance Charges (Revolving Credit): 2.5% per month (30% p.a.) (monthly)
Applied on unpaid balance when only the minimum amount due is paid after the interest-free period.
Cash Advance Fee: 3% of amount (min ₹30 per ₹1,000 or part thereof) (transaction)
Applicable on cash withdrawals at Canara Bank ATMs; other bank ATMs may levy additional charges.
Late Payment Fee: ₹250 (per statement cycle)
Charged when payment is made after the due date, over and above finance charges.
Inactivity Fee: ₹200 (yearly)
Charged if yearly card turnover is less than ₹50,000.
Foreign Currency Markup: 3% of transaction amount (transaction)
Charged on international transactions; described as among the lowest among peer banks by Canara Bank.
Cheque Dishonour / Failed Payment Instruction: ₹50 (event)
When an issued cheque or payment instruction towards card bill fails.
Card Replacement Fee: ₹300 (event)
Applicable for both primary and add-on card replacement.
Lounge Access Benefits with Canara Mastercard Platinum Credit Card
domestic Lounges
silverVisits per year: 8
Guest access: Yes
2 complimentary domestic airport lounge visits per quarter for the primary cardholder with 1 complimentary guest access per visit at select Mastercard lounges in India, as per the latest Canara Bank and Mastercard lounge list.
international Lounges
silverVisits per year: 2
Guest access: Yes
Up to 2 complimentary international lounge visits per year for the primary cardholder along with complimentary guest visits, at participating Mastercard lounges outside India, subject to network and bank terms.
Insurance Coverage with Canara Mastercard Platinum Credit Card
Fraudulent Charge Cover
₹5,00,000Covers eligible fraudulent transactions as per Canara Bank’s Lost Card Liability and Fraudulent Transaction policy, subject to timely reporting and claim terms.
Travel Accident Cover – Air
₹8,00,000 for self; ₹4,00,000 for spouseAccidental death cover while travelling by air with the ticket purchased using the Canara Mastercard Platinum Credit Card, as per policy wording.
Travel Accident Cover – Other Than Air
₹4,00,000 for self; ₹2,00,000 for spouseCovers certain accidental deaths or disabilities outside air travel, subject to credit card insurance policy terms.
Baggage Insurance
Up to ₹25,000Covers loss of checked-in baggage during eligible journeys, as per conditions of the bank’s group insurance cover.
Purchase Protection Cover
Up to ₹25,000Protects eligible high-value retail purchases made using the card against specified risks for a limited period from purchase date, as per policy terms.
Additional Features of Canara Mastercard Platinum Credit Card
Interest-Free Credit Period
Enjoy a minimum of 20 and up to 50 days of interest-free credit on retail transactions.
Applicable when the entire statement balance is paid by the due date; not available on cash advances.
Easy EMI Conversion
Convert eligible purchases into EMIs directly through the Canara ai1 app at attractive interest rates.
EMI processing fee of 2% of transaction amount (minimum ₹100, maximum ₹200) and interest of 13–14% p.a. depending on tenure.
High Credit Limit
Credit limit can go up to ₹50,00,000 based on profile and eligibility.
Actual credit limit is decided by Canara Bank after assessing income, bureau history and internal risk parameters.
Domestic And International Acceptance
Use the Canara Mastercard Platinum Credit Card at millions of merchants and ATMs worldwide.
International usage can be enabled via net banking, mobile banking or by visiting the base branch as per RBI guidelines.
Fuel And Utility Payments
Use the card to pay for fuel, utilities and everyday bills while earning reward points on eligible spends.
Reward accrual and surcharge rules follow Canara Bank’s card policy and may exclude certain merchant categories.
Welcome Bonus with Canara Mastercard Platinum Credit Card
Welcome Bonus: NA
Bonus Conditions: Canara Bank does not currently offer a separate joining or welcome gift on this lifetime-free credit card.
Application Process for Canara Mastercard Platinum Credit Card
Processing Time
7-10 working days after successful document verification and underwriting.
Online Application
Available
Instant Approval
Not Available
Step-by-Step Process
Visit the official Canara Bank website and navigate to the Credit Cards section.
Select the Canara Mastercard Platinum Credit Card and click on the apply link or visit your base branch.
Fill in personal, employment and income details and upload KYC documents such as PAN, Aadhaar and income proofs.
Canara Bank reviews your application, checks your credit profile and may contact you for additional information, if required.
On approval, your credit limit is assigned, the physical card is printed and dispatched to your registered address, and you receive PIN and activation instructions.
Required Documents for Canara Mastercard Platinum Credit Card
ID Proof
allAccepted documents:
Address Proof
allAccepted documents:
Income Proof
salariedAccepted documents:
Income Proof – Self Employed
self_employedAccepted documents:
Canara Mastercard Platinum Credit Card Merchant Acceptance Network
Domestic Acceptance
Widely accepted at most Mastercard-enabled merchant outlets and online payment gateways across India.
International Acceptance
Accepted at international merchants and ATMs wherever Mastercard is recognised, after enabling global usage.
Online Acceptance
Yes, works on Indian and international e-commerce websites and apps that accept Mastercard credit cards.
Payment Technologies
Mobile Wallet Support:
Excluded Merchants
Eligibility Criteria for Canara Mastercard Platinum Credit Card
Quick Eligibility Check
Minimum Age
21+
Credit Score
700+
Citizenship
Indian only
Income Requirements
Salaried Applicants
₹16,667
Minimum annual income
Self-Employed Applicants
₹16,667
Minimum annual income
Who Can Apply
Important Conditions
- Applicant should have an independent gross annual income of at least ₹2 lakh, a stable source of income, a valid PAN and Aadhaar, and must satisfy Canara Bank’s internal credit underwriting norms.
How Approval Is Decided
- Minimum independent gross annual income of approximately ₹2 lakh or as specified by Canara Bank for this variant.
- Indian resident aged at least 21 years with valid KYC documents including PAN and Aadhaar.
- Satisfactory credit score (typically 700 or above) and a clean repayment track record as per bureau reports.
- Positive internal risk assessment by Canara Bank based on existing relationship, banking behaviour and documentation.
- Compliance with RBI regulations and Canara Bank’s current credit card policy and underwriting norms.
Pros of Canara Mastercard Platinum Credit Card
- Lifetime free credit card with premium platinum benefits and no annual fee.
- Complimentary airport lounge access at select domestic and international Mastercard lounges.
- Simple reward structure of 2 reward points per ₹100 on eligible POS and online spends.
- Fuel surcharge waiver and seasonal offers on travel, dining, shopping and online merchants.
- Comprehensive insurance package including travel accident cover, baggage cover and purchase protection.
Cons of Canara Mastercard Platinum Credit Card
- No separate welcome bonus or milestone reward points beyond standard benefits.
- 3% forex markup is competitive but not as low as some specialised international travel cards.
- Reward rate is flat and does not offer higher multipliers on specific categories like dining or online spends.
- Inactivity fee of ₹200 is charged if yearly spends remain below ₹50,000.
- Lounge access is limited by quarterly and yearly caps and is available only at partner Mastercard lounges.
Frequently Asked Questions about Canara Mastercard Platinum Credit Card
Is the Canara Mastercard Platinum Credit Card lifetime free?
Yes. As per the official Canara Bank website and MITC, the Canara Mastercard Platinum Credit Card currently has zero joining fee, zero enrolment fee and zero annual fee, making it a lifetime free credit card for eligible customers.
What reward rate does the Canara Mastercard Platinum Credit Card offer?
You earn 2 Canara Rewardz points for every ₹100 spent on eligible POS and e-commerce transactions with the Canara Mastercard Platinum Credit Card. Reward points can be redeemed for cashback or merchandise via the Canara Rewardz portal or the Canara ai1 app.
Does the Canara Mastercard Platinum Credit Card provide airport lounge access?
Yes. The card offers complimentary domestic airport lounge access (2 visits per quarter for the primary cardholder with 1 guest) and limited complimentary international lounge access at select Mastercard lounges, subject to the latest lounge programme rules and usage caps.
What is the minimum income required for the Canara Mastercard Platinum Credit Card?
Canara Bank specifies that applicants should have independent gross annual income of at least ₹2 lakh. Existing Canara staff have a lower internal threshold as per the bank’s policy. Final approval also depends on credit score, repayment history and internal underwriting.
What are the foreign transaction charges on the Canara Mastercard Platinum Credit Card?
International transactions on the Canara Mastercard Platinum Credit Card attract a forex markup fee of around 3% of the transaction amount plus applicable taxes. This is broadly in line with other Indian bank credit cards and is described by the bank as among the lowest among peer banks.
How can I apply for the Canara Mastercard Platinum Credit Card online?
You can apply through the official Canara Bank website under the Credit Cards section or via the pre-approved credit card link, fill in basic details, upload KYC documents, and then wait for verification and approval. You may also apply at your base branch if you hold an account with Canara Bank.
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