Canara Bank Gold Loan Key Features
|Canara Bank Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Canara Bank Gold Loan Interest Rate||7.25% per annum|
|Canara Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,219
|Canara Bank Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Canara Bank Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Canara Bank Gold Loan Repayment Tenure||3 Months to 24 Months|
|Canara Bank Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
Advantages of Canara Bank Gold Loan:
- Fast processing: The approval and disbursement process is simple and clear for Canara Bank’s Gold loan. The loan is generally delivered within an hour.
- Low-interest rate: The interest rate on gold loans is much lower compared to other loans because it is a secured loan.
- Minimal Documentation: The documentation process is clear and simple. The lowest amount of documents is needed for Canara Bank gold loan approval.
- Transparent System: We do not charge any secret rental fees. The bank is focused on making you fully transparent.
- Loan amount: The minimum loan amount available to clients is 15,000 rupees, but it can often be less than 10,000 rupees in remote areas.
- Jewellery Security: Our duty is the security of your gold. The gold is then placed in fireproof vaults.
- Loan tenure: The length of the gold loan can be anywhere from 3 months to two years. You should make a decision about tenure at your convenience.
- Advantages for farmers: Canara Bank has many exclusive offers for agricultural reasons. This means that the bank provides farmers with a marginally lower rate of interest on gold loans for agricultural use.
- No Burden of Debt: We recognise that there may be conditions where a borrower may not be able to repay the loan amount. In such a scenario, the lender is not in debt, since the bank would take only the ornaments you have.
- No Caps on Wages: There are no such restrictions on the wage or wages of the lender. Someone with any revenue spectrum can then take advantage of it.
How Much Gold Loan can I Get through Canara Bank Gold Loan:
Canara Bank Gold Loan Per Gram – Updated September 2020
Updated - Gold Loan Per Gram Rate
Canara Bank Gold Loan Eligibility:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
18-70 years of age
Minimum 18 Carats
Canara Bank Gold Loan Documents Required:
2 Passport Size
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
Canara Bank Gold Loan Interest Rate, Fees, and Charges:
1.50% of the Principal Loan Amount 2%+GST (Within 3 Months), 0 (After 3 months) Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs 2% p.a. + Applicable rate of interest.
HDFC Gold Loan Interest Rate
7.00% per annum
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
1.50% of the Principal Loan Amount
2%+GST (Within 3 Months), 0 (After 3 months)
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
2% p.a. + Applicable rate of interest.
About Canara Bank Gold Loan:
If you are facing financial issues, solve them with the most appropriate Gold Loan option. Loans granted for gold are referred to as gold loans. With the lender as insurance, the borrower retains the gold jewel and receives cash. Get prompt approval and a hassle-free approach. At your disposal is a brief document. A loan which is covered is a gold loan. Therefore, this service can be easily used even by people with a low CIBIL rank.
Nevertheless, while there are many forms of financial banking and non-banking companies that offer gold loan services, Canara Bank Gold Loans are the most popular. These are a couple of India’s most reputed and valued banks. Besides this, for its very good financial services, it is popular. To apply for a Canara Bank Gold Loan and to take advantage of your product’s best deals.
- Canara Bank Gold Loan Interest Rate is 7.25% per annum
- Canara Bank Gold Loan Per Gram is ₹ 5,219
- Canara Bank Gold Loan Tenure: Up to 24 months
- Canara Bank Gold Loan Processing Fee is Up to 1.50% of the Loan Amount + GST
Types of Canara Bank Gold Loan:
Canara Bank provides specific schemes linked to Gold Loan Products that are described below:
- Loan against Gold – Canara Bank provides an attractive interest rate gold loan for any reason, whether personal or professional, to fulfil the immediate requirement of one’s funds. Indeed, a gold loan is a secured loan; the bank has no risk of lending money to a person, so it is given at a lower interest rate than various kinds of loan items.
- Agriculture Gold Loans – Compared to gold secured loans given for different needs, Canara Bank provides farmers with gold secured loans at special interest rates, especially for agricultural needs. Special offers are provided and proof should be given of the bank’s land for which it takes loans.
Canara Bank Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Canara Bank Gold Loan EMI?
Your Canara Bank Gold Loan will usually be repaid in the following three alternative ways:
- Standing Instruction (SI): If you currently have an account with Canara Bank, the simplest and most reliable payment form is Standing Instruction. Automatically, from the month to the month of the Canara Bank bank account it appears in, the balance of your EMI goes.
- Electronic Clearing Service (ECS): Normally, this payment form is used when you have a non-Canara Bank-related bank record and you have to use your monthly-monthly EMI Receive account.
- Postdated Checks (PDC): You can unveil your own Posted Dated EMI Reports for Canara Bank Illegal Statement at the closest Canara Bank Loan Center. A different version of PDCs was soon awarded. It would be noteworthy if you could see that post-date scrutiny is going on in non-ECS states as they were.
Canara Bank Gold Loan Contact Number:
In order to obtain immediate assistance and approval for your Canara Bank gold loan, call 9878981144. You can readily find out about the most effective gold loan deals from all Canara Bank branches around the country to take advantage of the most effective offer relevant to your decisions.
Gold Ornaments Accepted by Canara Bank :
- The Canara Bank approves gold jewellery, gold bracelets, gold bracelets, gold bracelets, gold necklaces, etc. for the use of gold loans.
- Quality: The gold standard needs to be between 18 and 22 carats. No 24-carat gold ornaments may be used when making an application for a gold loan.
Use of Canara Bank Gold Loan:
The funds raised by the use of the Canara Bank Gold Loan programme can be used for multiple functions, such as:
- To fund any personal investment, such as a wedding, hiking, higher payments for tuition, etc.
- There are still loan services available for all of your marketing needs, for example, purchasing products, manufacturing, promoting, etc.
- Additionally, you can also use the Gold Loan for agricultural ideas. The bank has lower interest rates on gold loans that are used for farming or similar activities.
Gold Loan Interest Rate of Major Banks
7.25% – 14.50%
|7.25% – 16.10%|
|Muthoot Finance Gold Loan||
7.25% – 24.00%
|7.25% – 17.00%|
|Manappuram Gold Loan||
7.25% – 26.00%
|7.25% – 15.99%|
|Bank of India Gold Loan||
7.25% – 26.00%
|7.25% – 13.50%|
|IIFL Gold Loan||
7.25% – 12.00%
|7.25% – 14.65%|
7.25% – 12.65%
|Allahabad Bank Gold Loan||
7.25% – 10.45%
|7.25% – 15.75%|
|PNB Gold Loan||
7.25% – 11.75%
|7.25% – 26%|
|SBI Gold Loan||
7.25% – 15.99%
|7.25% – 15.99%|
|UCO Bank Gold Loan||
7.25% – 26.00%
|7.25% – 13.50%|
|Syndicate Bank Gold Loan||
7.25% – 12.00%
FAQs About Canara Bank Gold Loan:
What is Canara Bank Gold Loan?
The Canara Bank Gold Loan is a type of loan which you can only use for urgent financial assistance by keeping your gold as collateral with the bank. Term Loan, Overdraft, and EMI interest rates, depending mainly on loans, are also included. The total Gold Loan disbursement time for India is just 45 minutes.
How can I get the Gold Loan from Canara Bank?
By visiting any of the gold loan approval branches in India, you can get a Canara Bank Gold Loan; otherwise, you can apply from the comfort of your home online with LoanNow, and take the best offers and deals. It is one of the few leading banks to provide Gold Loan facilities in India.
What is the Gold Loan Interest Rate in Canara Bank?
The gold loan rate in India is 7.25 per cent per annum. Usually, the interest rate depends on a variety of components, such as the size of the loan, the loan’s tenure, the purity of gold, and the relationship with the bank.
How much Gold Loan can I get per gram in Canara Bank?
The gold credit that you obtain at Canara Bank per gramme depends on the purity of your gold. Canara Bank accepts pure gold from 18 carats to 22 carats to deliver a gold loan. In the Canara Bank Gold Loan, up to 5,219 per gramme can be used.
How to check Gold Loan status in Canara Bank?
To evaluate your Canara Bank Gold Loan status, all you have to do is visit the Canara Bank loan status tracker web page and fill in the issued application with your details. You can remotely monitor your loan’s status from anywhere and keep it updated.
How to calculate Gold Loan Interest in Canara Bank?
You can measure the interest on your Canara Bank Gold Loan interest by means of the LoanNow EMI Calculator, which gives you exact amounts depending on the data you insert into the calculator.
How to Pay Canara Bank Gold Loan Interest Online?
What if I can’t pay the interest on Canara Bank Gold Loan for 3 months?
If your Canara Bank Gold Loan is not paid within three months, your incomplete dues are remembered first by the bank. If the payment demands go unanswered, a formal legal notice regarding repayment and termination of the loan is distributed. The default on your gold loan leads to a drop in your credit score that makes you liable for legal action by the bank, along with the confiscation of the sale of your gold.
How can I apply for EMI Moratorium on Canara Bank Gold Loan?
You may apply for the Canara Bank Gold Loan EMI Moratorium directly between 1 March and 31 August 2020 and must do so by contacting the bank’s customer service department or visiting the nearest branch of Canara Bank.