Update Introduction of option to modify Credit Card billing cycle

Currently, Canara Bank offers a single billing date to customer, based on the Network type:

1. Master Card/ Rupay - 18th of every month
2. Visa - 20th of every month

To comply with regulatory requirements and enhance customer convenience, Canara Bank introduced additional billing cycle as outlined below:

1. MasterCard/ Rupay
   Billing date: 14th of every month
   Payment Due Date: 4th of succeeding month
2. Visa
   Billing date: 16th of every month
   Payment Due Date: 6th of succeeding month

Customer can now request a change in their billing cycle through branch. The option will also be introduced in other channels (Mobile/Internet Banking) subsequently.

Conditions for Existing Customers:

1. No existing billing cycle change request should be pending.
2. At least one billing cycle should be completed before billing cycle change request.
3. Card should not be in overdue status
4. Billing cycle change should be allowed only once.
5. There should be no outstanding balance on the card.
6. There should not be any ongoing EMI on the card.
7. There should not be any accrued interest.
8. Card status should be Open/Temporarily Blocked.
9. Card should not have any open request for Reissue, Replacement and Swap.