Canara Bank Gold Loan

Canara Bank Gold Loan Key Features – Apply Now

Canara Bank Gold Loan Interest Rate	7.25% per annum
Canara Bank Gold Loan Per Gram	Per Gram Today ₹ 3,800 to ₹ 4,350
Canara Bank Gold Loan Age Criteria	18 to 65 years
Canara Bank Gold Loan Maximum Loan Amount	Up to 1 crore
Canara Bank Minimum Loan Amount	Up to 75% LTV
Canara Bank Prepayment Charges	2%+GST (Within 3 Months), 0 (After 3 months)
Canara Bank Maximum Loan Tenure	10 yrs (After 1-year renewal is required)
Canara Bank Minimum EMI Per Lakh	Rs. 833

 

Canara Bank Gold Loan Explanation

Canara Bank’s gold loan can be beneficial to meet a critical necessity for cash by vowing your gold enhancements or gold coins as protection. Gold development is most likely the speediest sort of securing and can be profited by existing customers of Canara Bank similarly as new borrowers. With Canara Bank, you will not simply benefit from the gold credit adequately yet moreover at a genuine advance expense. Here is all you need to consider Canara Bank gold credit financing cost, residency, aggregate, and various terms and conditions.

Canara Bank Comparision With Other Banks

Particulars	Canara Bank	SBI	HDFC Bank
Interest Rate	7.25% per annum	7.50% – 7.50%	9.90% – 17.55%
Processing Fees	Up to 1% of the loan amount, minimum Rs. 750	0.50% of the loan amount, minimum Rs. 500	1.50% of the loan amount
Loan Tenure	10 yrs (After 1-year renewal is required)	3 months to 36 months	3 months to 24 months
Loan Amount	₹ 10,000 to ₹ 1 crore	₹ 20,000 to ₹ 20 Lakh	₹ 25,000 to ₹ 50 Lakh
Foreclosure Charges	Up to 0.50%	Nil	Nil after 3 months
Repayment Options	Y	Y	Y
Lowest EMI Per Lakh	₹ 8,683 per lakh	₹ 3,111 per lakh	₹ 4,610 per lakh

 

Tips To Get Gold Loan From Canara Bank Fast

• Canara Bank recognizes both hallmarked and non-hallmarked decorations for getting a gold development. Regardless, you can get the most raised gold credit per gram for brand name embellishments, as it diminishes the chances of under-valuation by the valuer. Moreover, a couple of banks charge lower getting ready costs on hallmarked gold diamonds.
• Canara Bank changes the expense of 22-carat gold for the perfection of gold. Subsequently, consistently attempt to get against higher virtue adornments as it will bring you the most elevated sum for gold advance.
• Canara Bank will process the net heap of diamonds to discover the proportion of advance against the gold you can get. Persistently, endeavour to pick embellishments that have the least gems and stones. A huge part of the banks will reduce the weight of pearls and stones from a total heap of embellishments. Canara Bank will rely upon the report of his gold valuer to figure the net weight.
• Higher the substantialness of pearls and stones in decorations, cut down the net weight and assessment of diamonds which achieves the lower proportion of jewel advance you can get Further, Canara Bank will not recognize gem diamonds if the gold used is under 18-carat flawlessness. By far most of the valuable stone decorations are made in 16 carats to 18-carat gold and from this time forward, will achieve low gold development per gram.
• Ceaselessly endeavour to get the best LTV on the assessment of gold. Canara Bank is allowed by RBI to charge a most extraordinary LTV of up to 85% to process the proportion of gold credit you are equipped for.

Introduction to Canara Bank gold loan

The best gold loan is a very secured loan offered by the Canara banks against the applicant’s self-owned gold to be kept as collateral or very much security with the lender. Financial institutions always offer these secured gold loans by keeping the applicant’s self-owned gold jewellery, coins, or other things ornaments as collateral or security, which is also returned to the borrower upon repayment of the gold loan and in full. Usually, the gold loan, very much secured with any of the gold ornaments, is offered for short- to medium-term duration. 

Canara Bank Gold Loan EMI Calculator

The best gold loan EMI Calculator is the online tool that individuals or applicants can also access to calculate the EMI or instalment against this loan they also plan to avail, against their self-owned gold or gold ornaments. Their self-owned gold or gold ornaments shall also be kept as collateral or very much security with the lender until the loan is repaid in a period. Gold Loan EMI calculator is the best feature that can always help an applicant to get the approx. The EMI also needs to be paid to repay whatever borrowed amount. 

• This also saves you from very much time of tedious and fault-prone calculations
• This incorporates the latest gold rate into the calculation
• This also allows you to try out different types of options to find best of the Gold loan that is suitable for your requirement
• By knowing the gold loan or other loan EMI payable, you can adjust the monthly budget so that you can also make timely payments of the gold loan

Advantages Of Canara Bank Gold Loan

1. Instant Gold Loan: The sum of the Loan in Canara Bank ranges from Rs.10,000 to Rs.1 crore.
2. Gold Ornament: The loan can only be availed on loan ornaments.
3. Loan Tenure: When it comes to avail of a gold loan, the Canara Gold Loan holds a maximum duration of 10 years.
4. Value for Gold: A professional Appraiser will be made available by the bank for evaluating the purity of your gold.
5. Safety and security: After figuring out the valuation of Gold, the professionals put the Gold in a sealed pouch, packs it, and safely place it in the vault of the bank. The procedure takes place in the presence of the client. This makes sure that the borrower’s Gold is entirely safe and secured in the bank’s possession.
6. Approval duration: Within 30 minutes, you can get the Loan.
7. Foreclosure: Canara Bank charges the borrower up to 1% of the outstanding principal debt in the event of a Gold Loan.
8. Bank provides special offers to the existing account holders.
9. THE maximum LTV ratio is 75%, and it is fixed by RBI (Reserve Bank of India).
10. Many banks grant higher interest rates for a shorter tenure and lower rates of interest for a higher tenure, but Canara Bank bank doesn’t do so. The mandate for the gold loan is fixed for all customers. It is up to 10 years.
11. The bank provides a Gold Loan for agricultural activities at lower rates of interest.

What types of gold can be used to secure a gold loan

To apply for the best of the Canara Bank gold loan, you would have to visit one of their branches. Contact the branch office who would also provide you with the application form and also guide you through the whole process. Afterwards, the gold appraiser would set the value of your gold and accordingly, the bank would let you know the amount of the gold loan you can also apply for as per this best and safe Canara Bank gold loan per gram rate. You can also pledge gold, coins, jewellery, or more of the things. If you sell, then this would be a very secured loan. Gold loans are quick and very easy ways to monetize the gold and get huge money. 

This type of best gold loan can also be applied by anyone who also owns gold, either in jewellery and gold coins. Apart from any of the banks and your local jewellers, NBFCs always specialize in giving the best of gold loans to retail customers. Most of the banks are always using NBFC as their last-mile link for providing the best of the gold loans in rural and semi-urban areas.

How Much Gold Loan Can I Get through Canara Bank?

To the latest, Canara Bank Gold Loan Per Gram is ₹ 4,129. 22-carat jewellery is calculated at a maximum LTV of 75%. The loan per gram keeps on changing every day as per the price of the gold.

Canara Bank Gold Loan Per Gram Rate – Nov 21 2024

₹ 3,800 to ₹ 4,350

 

 

About Canara Bank Bank Gold Loan

As we know, a bank comprehends the value of a client’s satisfaction, needs, and assets and subsequently gives the genuine worth of it at the critical moment through its Gold Loan Facility. Canara Bank Gold Loan is one of the natural and quick loans with a reasonable interest rate.

It’s a hassle-free loan facility with no Equated Monthly Installment stresses and quick approval. Gold Loans give funds for expenses such as education, holiday, agricultural requirement, or other little essentials. With a specific end goal to grab Gold Loan from Canara Bank, you need to apply here.

Canara Bank is one of the largest public sector banks as well as the most reliable banks owned by the Government of India. It is headquartered in Bengaluru and the bank was established at Mangalore in 1906. It offers many services such as loans, insurance, finance, banking, and wealth administration. The gold loan provided by Canara Bank is one of the major products the bank has to offer.

There are so many banks and non-banking business organizations that grant gold loans now, but Canara Bank bank is the most trustworthy. The bank has a vast area of the interface, and it has been assisting consumers with high-quality and most secured commercial assistance.

• Canara Bank Gold Loan Interest Rate is 7.25% per annum.
• Canara Bank Gold Loan Per Gram is Rs.₹ 3,800 to ₹ 4,350.
• Canara Bank Gold Loan Tenure is up to 10 years. (after 1-year renewal)
• Canara Bank Gold Loan processing fee is 1% + GST.

Canara Bank Gold Loan Eligibility

The Canara Bank Gold loan eligibility requirements are as follows:

Age	18-75 years
Requirements	Gold ornaments (18-22 carats)
CIBIL Score	Above 500

 

Canara Bank Gold Loan at Home 

Gold Loan at Home is a doorstep loan service that allows you to borrow money without leaving your home. The service is quick, flexible, and cost-effective, with low-interest rates. Before submitting a loan request, you may use the gold loan calculator to determine the worth of your gold or the loan amount. Getting a Gold Loan at home is a simple and quick process that takes only a few minutes.

One of our employees will contact you and visit your home within 30 minutes. The necessary gold loan amount will be delivered immediately to your bank account after all e-documentation and gold identification are completed at your home.

The benefits of getting a gold loan at your doorsteps are:

• Access To Your Loan Account 24 X 7
• Diverse Range of Gold Loan Schemes
• You can get free insurance for your Gold
• There are no hidden fees.
• You will get the maximum value of your Gold
• You can avail your Gold Loan in just 1 visit
• Service at Your Door in 30 Minutes
• Pre & Part Payment Facility
• Your Gold will just be released the same day.

Canara Bank Gold Loan Documents Required

Availing the Canara Bank Gold loan requires the following documents:

Identity Proof	Aadhar Card/Pan Card/ Passport/ Voter ID
Residence Proof	Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card.
Agriculture Proof ( only if applicable)	Agriculture Land Ownership Proof
Photographs	2 Passport sized colored

 

Canara Bank Gold Loan Interest Rate, Fees, and Charges

Canara Bank Gold Loan Rate of Interest	7.25% per annum
Processing Fee	1% of the loan amount
Renewal Fees	Rs 250- Rs 500 (depending on the loan amount)
Loan Amount	₹ 10,000 to ₹ 1 crore
Prepayment Charges	1% of the outstanding principal amount
Document Charges	Rs 199 (for loans up to 1-year tenure)

 

Canara Bank Gold Loan Schemes

• Overdraft Facility: Most popularly used by self-employed people because of the fluctuating money requirements of such business people. Through this service, one can withdraw money according to his own needs.
• Bullet Repayment: This is the most often used means for short duration loans when it comes to repayment of Loan Against Gold. In this arrangement, the borrower has to pay the Canara Bank Gold Loan Interest Rate throughout the tenure of the loan. This means that the principal value has to be settled at the finish of the loan tenure.
• EMI Facility: This is another scheme that customers can choose for the repayment mode of the Loan Against Gold. In this, a fixed amount is calculated that the applicant has to pay monthly in the form of monthly instalments. This value includes a part of the principal amount and the Canara Gold Loan Interest Rate.

 

Canara Bank Gold Loan Details

1. Purpose – The motive here is to cover every type of need for Agriculture.
2. Eligibility – Any of the individuals who is the owner of ornaments or gold jewellery or coins and the account holder of any of the branches are eligible for the Canara Bank Gold Loan.
3. Quantum of Loan – For Agriculture/MSME/OPS/Retails/Consumption Purpose, the total amount is Rs 15-25 lakhs.
4. Security – The bank must pledge the belongings like ornaments or gold jewellery, or coins.
5. Margin – For Agricultural purpose, this is 15-20% and for /MSME/OPS it is 25% (15% till 31.03.2021)
6. Interest Rates – For Agriculture, the limit is 15 lakhs. The interest rate against hallmarked jewellery and gold coins is 7.35% and 7.40% for everyday jewellery.
7. Gold Accepted – Gold Ornaments of up to 50 grams with a purity of 18 to 22 carat is accepted.

Features of Canara Bank Gold Loan (Swarna Loan)

• Less Paper Work – Canara Bank has reduced the paperwork for this loan, making it trouble-free and easy to avail.
• Flexible repayment – The loan amount could be repaid within a period of 1 year, with the interest payable only on maturity.
• Multipurpose Loan – This loan can be used to meet any financial emergency, with certain conditions applied.
• Competitive Interest Rates – Swarna Loan comes with a competitive Rate of Interest, making a loan financially tenable for everyone.
• Low processing fee – The processing fee for this scheme charged is very low.
• Security/Guarantor – Applicant does not need to submit any Guarantor.
• Max. amount of loan – Under this Scheme, the Loan amounts ranges from Rs.10,000/ to Rs 10,00,000 lakh can be availed.

Eligibility criteria to avail Canara Bank Swarna Loan

Income – People applying for the loan should be salaried/self-employed with a sufficient source of income.
Account Holder – People applying for the loan should have existing Savings Bank accounts with Canara Bank. Those individuals who don’t have an account needs to be introduced by trusted customers.

Canara Bank Gold Loan – Documents required (Swarna Loan)

ID & Address Proof – Passport, PAN card, DL, etc.
Application form – Filled with valid details signed application form.
Income proof – Form 16 or Salary Slips from the employer.
Gold certificate – Certificate required from the jeweller mentioning the quality of Gold.

Fees and Charges for Swarna Loan

Processing Fee – 1% of the Loan Amount, Minimum Rs. 1000/- and Maximum rs. 5000/-

Appraisal Fees – Depends on the case. 

Canara Bank Gold Loan Apply Online

The process to apply online for Canara Bank Gold Loan is as follows:

• Visit us at Dialabank.
• You can find Canara bank gold loan details on the website.
• Simply fill a user-friendly form for a gold loan, with the necessary details required.
• Our relationship manager will get in touch with you over your provided number.
• Choose the best loan for yourself and avail it instantly with Dialabank.

 

Canara Bank Gold Loan EMI Calculator

Rate	6 months	1 Yr	2 Yrs	3 Yrs
7.00%	17008	8652	4477	3088
8.00%	17058	8699	4523	3134
8.50%	17082	8722	4546	3157
9.00%	17107	8745	4568	3180
9.50%	17131	8678	4591	3203
10.00%	17156	8791	4614	3227
10.50%	17181	8815	4637	3250
11.00%	17205	8838	4661	3274
11.50%	17230	8861	4684	3298
12.00%	17254	8885	4707	3321
12.50%	17279	8908	4731	3345
13.00%	17304	8932	4754	3369
13.50%	17329	8955	4778	3393
14.00%	17354	8979	4801	3418
14.50%	17378	9002	4825	3442
15.00%	17403	9026	4845	3466

How To Pay Your Canara Bank Gold Loan EMI?

Your Canara Bank gold advance can be reimbursed in the following three different ways.

1. Standing Instruction (SI): for current holders of the Canara Bank account.
2. Electronic Clearing Service (ECS): for borrowers of non-Canara Bank.
3. Post-Dated Checks (PDC): Post-dated cheques can be posted from a non – Canara Bank account nearby.

Canara Bank Gold Loan Contact Number

For any sort of assistance regarding the Canara Bank gold loan, you can contact us on 9878981144.

Gold Ornaments Accepted By Canara Bank Gold Loan

• Canara Bank bank admits only Gold of 18 carats and 22 carats.
• The Bank accepts only gold jewellery as security.
• Minted coins are not granted.

Use Of Canara Bank Gold Loan

1. Faster processing – Gold loans are regarded as secured loans. Therefore, they do not require any problematic acceptability guidelines terms, and documentation, which presents it as one of the most rapid processing loans.
2. Lower interest rate – In comparison with unsecured loans such as personal loans, gold loans are secured loans, need a more reasonable price of interest on the loan amount.
3. Multipurpose – The loan value can be used for numerous objectives like financing a holiday, comprising wedding investments, clearing off pharmaceutical bills, etc.
4. Business Purpose- You can apply for the Canara Bank Bank gold loan for all your shopping needs, such as buying raw materials, generating sales, etc.
5. Agricultural Purpose- Get a special rate of interest on the gold loans for cultivation persistence.

Canara Bank Agricultural Jewel Loan Scheme

Scheme	Agricultural Jewel Loan Scheme
Interest Rate	Starting from7.25% per annum (depends on the sum of the loan)
Least amount of Loan	Depends on the value of the jewel which is being kept as security
Loan period	Adjustment of advance sum inside 2 months from the date of reap of yields

 

Benefits Of Canara Bank Agricultural Jewel Loan Scheme

• No arranging cost is appropriate up to ₹ 25,000.
• 0.30% of the credit aggregate, Minimum of ₹ 300 charge is material to the complete going from above ₹  25,000 – not really ₹ 5 lakh.
• 0.28% of the credit complete, subject to at any rate Rs.1,500 is proper to the total more than Rs.5 lakh regardless under Rs.1 crore.

Canara Bank Gold Loan Overdraft Scheme

The fee is not payable as for a standard loan and has both options, secured and unsecured ODs depending on your preferences and eligibility. The Overdraft Center at Canara Bank Bank is simple and easy to understand. An overdraft may be allowed up to a maximum amount of Rs. 15 lakh.

Canara Bank Gold Loan Key Highlights

Age	18-75 years
Minimum Loan Amount	Rs. 25,001
Maximum Loan Amount	Rs. 25 Lakh
Canara Bank Gold Loan Interest Rate	7.25% per annum
Loan Tenure	From 3 months up to 3 years
Gold Items accepted	Jewelry and gold coins sold by banks
Canara Bank Gold Loan Processing Charges	1% of the loan amount

 

How Does Canara Bank Gold Loan Work, Here’s An Example

The development of total capability is settled dependent on the faultlessness of gold, LTV, and the weight of gold. Expect Mr An and his two partners Mr B and Mr C own different proportions of gold with moving perfection. Mr A has 50 grams of gold of 22 carats. Mr B has 60 grams of gold with uprightness of 20 carats and Mr C has 70 grams of gold with goodness or 22 carats. They approach Canara Bank to benefit from a gold development. The worth applied to learn their gold credit aggregate capability reliant on the most outrageous LTV of 85% will vary by the excellence of gold and subsequently, will achieve moving gold development capability.

Applying through Dialabank websites?

You can apply for a gold loan through the Dialabank website. This would be helpful for you, and this website is safest for you if you wish to choose Dialabank. 

FAQs About Canara Bank Gold Loan

✅ What is Canara Bank Gold Loan?

Canara Bank Gold Loan is a borrowing option available to all individuals who own any form of gold jewellery and are in urgent need of cash. The Canara Bank Gold loan is a multi-purpose loan and can be used for any sort of financial constraints like medical expenses, weddings, etc.

✅ How Can I Get Gold Loan From Canara Bank Bank?

You can get a gold loan from Canara Bank Bank in the following few clicks:

• Fill in your necessary details in the form available on Dialabank.
• Our trained relationship manager will get back to you within 30 minutes.
• We will suggest you the Loan which meets your requirements, in your specific region.
• Visit the nearest assigned branch.
• Get the loan amount in just 30 minutes.

✅ How much is the Canara bank gold loan rate per gram?

Canara Bank Gold Loan Per Gram Today Rate is Rs. ₹ 3,800 to ₹ 4,350. It varies according to the quality of your gold.

✅ How Does Canara Bank Gold Loan work?

The Canara Bank Gold loan works as a simple borrowing service available for any individual who requires urgent cash and has gold ornaments available for collateral security. On pledging the gold with the bank, the borrower can avail up to 75% of the LTV of the gold which can be repaid later in the form of EMIs.

✅ What is the Gold Loan interest rate in Canara Bank?

The Canara Bank Gold Loan Interest Rate Online start from7.25% per annum .

✅ How to calculate Canara bank’s gold loan interest?

To calculate the gold loan interest in Canara Bank just subtract the principal amount from the total loan amount to be paid by the borrower.

✅ What is the maximum gold loan amount I can avail of on a gold loan from Canara Bank?

The maximum gold loan amount that can be availed on a gold loan from Canara Bank is up to 75% of the gold jewellery’s value kept as collateral.

✅ What is the loan tenure of the Canara Bank gold loan?

The loan tenure of the Canara Bank gold loan is up to 10 years. But you will be required to renew your loan after 1 year.

✅ How can I apply for an EMI moratorium on the Canara Bank Gold loan?

You can ask for an EMI Moratorium on the Canara Bank Gold loan online by logging in with your credentials or can also go to the bank individually. You require to present the moratorium offers at least five functioning days ere your EMI return’s scheduled date.

✅ How to pay the Canara Bank Gold loan through a credit card?

You will not be able to pay the Canara Bank Gold loan through credit cards as per RBI Guidelines. You can use various other modes like mobile banking, debit cards, cheques, demand drafts for loan repayment.

✅ What is the Canara Bank Gold Loan customer care number?

For contacting the Canara Bank Gold loan customer care call at 9878981144 for any query.

✅ What is the Canara Bank Gold Loan closure procedure?

• Just go to the bank with the documents.
• Write a letter for pre-closure of the Canara Bank Gold loan account.
• Pay the pre-closure charges as per Canara Bank Gold Loan.

✅ What is the Canara Bank Gold Loan preclosure charge?

Up to 2% preclosure charge before 3 months, after that 1%.

✅ What is the Canara Bank Gold Loan overdraft scheme?

The fee is not payable as for a standard loan and has both options, secured and unsecured ODs depending on your preferences and eligibility. The Overdraft Center at Canara Bank Bank is simple and easy to understand. An overdraft may be allowed up to a maximum amount of Rs. 15 lakh.

✅ What is the Canara Bank Gold Loan’s maximum tenure?

The maximum tenure of the Canara Bank Gold loan is 10 years where a 1-year renewal is required.

✅ What is the minimum gold loan tenure?

The minimum gold loan tenure is 6 months.

✅What is the foreclosure procedure for Canara Bank Gold Loan?

Canara Bank has 0.50% as Foreclosure charges.