Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Canara Bank offers several payment channels to help you pay your credit card bills on time. You have the option of choosing either offline or online payment modes. This way, you will never miss a due date and incur late payment fees.
One of the easiest ways to pay off your outstanding balances is by opting for online payment channels. Canara Bank provides two modes to clear your credit card dues. Let's take a look at them below:
With the auto debit facility, you don't have to worry about missing your due date ever again. You can set up standing instructions, so every month a predetermined amount is credited to your card from your account. Here's how you can initiate a standing instruction:
Besides viewing your current standing instructions, you also have the option of modifying or deleting them altogether.
You can use NEFT for credit card bill payments as well. You will have to add your card as a beneficiary by adding the 16-digit number in place of the account number. The IFSC code will be CNRB0001912.
This facility operates in hourly batches. You can initiate transactions from 8:00 am to 7:00 pm on weekdays, and 8:00 am to 1:00 pm on Saturdays. There are no upper or lower limits when you choose NEFT. Listed below are the details required for NEFT:
You can make your Canara Bank credit card bill payments through the Canara Bank mobile banking application or the Canara Saathi app.
Canara Bank also offers several offline channels for your card bill payments. You can choose any of the three options mentioned below.
You can use demand draft to clear your outstanding balances as well. You will have to fill in certain details before submitting your request.
If you're choosing the cash payment mode, you can visit your nearest Canara Bank branch and initiate a transaction. For cheque payments, you will have to address the cheque to your credit card account and drop it off at your bank's branch.
Canara Bank credit card bills can be paid through the auto debit facility and National Electronic Fund Transfer (NEFT).
The payment processing time for these are:
Your Canara Bank credit card statement will provide the following information:
The credit card statement is sent every month. It will be sent either to your registered email address or postal address, depending on which mode of communication you have opted for.
It is important to go through the credit card statement in detail to check for any discrepancies. If there are any fraudulent transactions, you should contact the bank through the customer service helpline to resolve the issue.
You can visit the nearest Canara Bank branch or call the help line toll-free number 1800 425 0018. Alternatively, you can also drop a mail to hocancard@canarabank.com.
Yes, there are processing fees for NEFT transactions. For transaction amounts of up to Rs.10,000, it is Rs.2.25, for up to Rs.1 lakh it is Rs.4.75, for up to Rs.2 lakh it is Rs.14.75, and for anything above Rs.2 lakh it is Rs.24.75. These charges are exclusive of GST.
You will have to get in touch with the Canara Bank branch and NEFT customer facilitation centre. The numbers are 022-22690581/022-22691157 and the email is neftcb0136@canarabank.com/csmcity@canarabank.com.
Depending on the bank, a certain amount will be charged as a late payment fee. For a revolving credit account, you will be charged a 2% late payment fee which is a minimum of Rs.10 and a maximum of Rs.150. You will be charged a 2% late payment fee for non-revolving credit accounts as well. This could be a minimum of Rs.20 and a maximum of Rs.300.
No, you cannot change the due date for your Canara Bank credit card.
The credit-free period on your Canara Bank credit card is 50 days provided you settle the outstanding amount in full by the due date.
No, the total outstanding amount incurred on Canara Bank's add-on credit cards will be billed to the credit card statement of the main card.
If the minimum payment due is also not paid within 90 days from the next statement date, then the cardholder's name will be reported to the credit rating agencies in India and will be blacklisted. The blacklisting can be removed on request if the liabilities are cleared later.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
