M16S / Canara Bank / Canara Mastercard Platinum Credit Card
mid · rewards, lifetime-free
Canara Mastercard Platinum Credit Card
The Canara Mastercard Platinum Credit Card charges no annual fee and no joining fee. Its base return is 0.5% (2 points per Rs 100 on POS and e-commerce spends). The forex markup is 3%. Lounge visits in India: 2 self + 1 guest per quarter. Read from the issuer's own documents on 11 Oct 2026.
- Annual fee
- Free
- Fee waived at
- —
- Base return
- 0.5%
- Forex markup
- 3%
- Interest
- 2.5%a month
Apply on canarabank.bank.inOpens the bank’s own page.
Fees
| Joining fee | Free |
|---|---|
| Annual fee | Free |
| Fee notes | Enrolment, joining and annual fee: Nil. Card inactivity fee Rs 200 + GST if card-year turnover is below Rs 50,000. Not a fee waiver in the usual sense: the fee exists only as a penalty for low usage. |
Rewards
| Reward currency | Canara Rewardz points |
|---|---|
| Base earn | 2 points per Rs 100 on POS and e-commerce spends |
| Base return | 0.5% |
| Point value | 1 point = Rs 0.25 (MITC) |
| Caps | 10,000 points per billing cycle (MITC); cap not applied during bank-run campaigns |
| Spends that earn nothing | Fuel transactions and cash withdrawals earn no points (MITC). Fractions of Rs 100 earn nothing. |
| Points expiry | 3 years from date of accrual; unused points lapse on card closure |
| Reward notes | base_return_pct = 2 points x Rs 0.25 / Rs 100 = 0.5%. Cashback redemption needs minimum 1,000 points, in multiples of 100, credited in next statement. MITC says additional processing fees apply for recharge/merchandise redemptions (amount shown at redemption, not published). Redemption via canararewardz.com or Canara ai1 app. |
Travel and perks
| Domestic lounge | 2 self + 1 guest per quarter |
|---|---|
| International lounge | Not available |
| Lounge conditions | Selected lounges only; no spend condition published |
| Forex markup | 3% |
| Fuel surcharge waiver | 1% surcharge reimbursed up to Rs 100 per billing month, only if the card has at least Rs 2,500 of non-fuel purchases in that billing month and each fuel transaction is Rs 400 or more; credited next billing month |
| Other freebies | Insurance: air accident Rs 8 lakh (self)/Rs 4 lakh (spouse); other accident Rs 4 lakh/Rs 2 lakh; baggage up to Rs 25,000; purchase protection up to Rs 25,000; fraudulent charge cover Rs 5 lakh |
Charges and eligibility
| Interest per month | 2.5% |
|---|---|
| Late payment fee | Flat Rs 250 + GST |
| Cash advance fee | 3% of amount, minimum Rs 150 (Canara ATMs); product page features table words it as Rs 30 per Rs 1,000 or part thereof. Other-bank ATM charges extra. |
| Eligibility | Independent gross income of at least Rs 3 lakh per annum. Credit limit up to Rs 50 lakh. |
| Fine-print notes | No joining or annual fee, but an inactivity fee is charged if card-year turnover is below the threshold in fee_notes. The published MITC tariff is marked 'applicable as on 01.04.2022' and the linked credit card policy is 2023-24, so charges may be stale. The 'Credit Card Variants & Features' PDF lists a Rs 250 joining fee for primary cards and Rs 400 add-on annual fee, which conflicts with the product page ('Nil'); product page value used. Baggage and purchase protection cover is Rs 25,000 on product page and MITC but Rs 50,000 in the variants PDF. EMI conversion via Canara ai1 app: 13% p.a. (3/6/9 months), 14% p.a. (12/18/24 months), processing fee 2% (min Rs 100, max Rs 200). Card replacement Rs 300. Railway counter surcharge Rs 30 + 2.5%; IRCTC 1%. No over-limit fee amount is published. |
Questions
- What is the annual fee of the Canara Mastercard Platinum Credit Card?
- No annual fee.
- Does the Canara Mastercard Platinum Credit Card give airport lounge access?
- Yes. In India: 2 self + 1 guest per quarter. Outside India: none listed. Conditions: Selected lounges only; no spend condition published
- What is the forex markup on the Canara Mastercard Platinum Credit Card?
- 3% of each foreign-currency transaction, before GST.
- Which spends earn no rewards on the Canara Mastercard Platinum Credit Card?
- Fuel transactions and cash withdrawals earn no points (MITC). Fractions of Rs 100 earn nothing.