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 | 7.0% per annum |
| Canara Bank Gold Loan Per Gram | Rate Per Gram Today is ₹ 5,268 |
| 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 Getting Canara Bank Gold Loan:
- Fast Processing: Canara Bank Gold Loan provides easy processing and quick disbursal. The loan gets passed in an hour. Those who are eligible for an online gold loan can even get the loan amount in just a few minutes.
- Lower Rate of Interest: Gold loans, which is a secured loan, provides a loan at a low rate of interest.
- Fewer Documents: Canara Bank has a straightforward documentation process and only vital documents are required.
- Fully Transparent System: Canara Bank is fully transparent to all its customers. There are no hidden charges applied.
- Amount of Loan: The least amount of loan provided to the customer by Canara Bank is Rs. 15000. Also, It can be lower than Rs 10000 in rural areas.
- Safety and Security: The bank is liable entirely for the security of your gold. We know how much security means to our customers, therefore, the gold is kept in fire-resistant protection.
- Loan Tenure: The tenure of the loan can be from 3 months to 2 years. Thus, we can provide according to your preference.
- Benefits for Farmers: Canara bank has special offers for our farmers. Canara bank offers a slightly lower Gold loan interest rate for agricultural use.
- No Debt Burden: If any situation arises in which the applicant is unable to compensate the loan amount, in such a scenario the applicant will not be under debts as the bank will only confiscate the ornaments.
- No Income bounds: Anyone with any income range can avail a gold long as there are no limitations on the salary or income of the applicant.
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
Gold Weight
Gold Purity
Gold Purity
Gold Purity
Gold Purity
24 Carat
22 Carat
20 Carat
18 Carat
1 gram
4680
4290
3900
3510
10 gram
46800
42900
39000
35100
20 gram
93600
85800
78000
70200
30 gram
140400
128700
117000
105300
40 gram
187200
171600
156000
140400
50 gram
234000
214500
195000
175500
100 gram
468000
429000
390000
351000
200 gram
936000
858000
780000
702000
300 gram
1404000
1287000
1170000
1053000
400 gram
1872000
1716000
1560000
1404000
500 gram
2340000
2145000
1950000
1755000
Canara Bank Gold Loan Eligibility:
Canara Bank offers loan amounts depending on the purity and quantity of the gold. The lender can avail a Gold Loan only if the following eligibility criteria are fulfilled:
18-70 years of age Salaried, Self-Employed Minimum 18 Carats
Age
Nationality
Indian
Employment Status
Gold Quality
Canara Bank Gold Loan Documents Required:
The following documents are required to apply for a gold loan:
Photographs
2 Passport Size
Identity Proof
Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Residence Proof
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:
Gold loans are secured loans and include lenient eligibility criteria and minimal documentation. It does not even require a credit score for loan approvals. As compared to unsecured loans such as personal loans, a gold loan, which is a secured loan, charges a lower rate of interest.
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.
Gold Loan Interest Rate
7.00% per annum
Processing Fee
Prepayment/Foreclosure Charges
Valuation Fee
Late Repayment Charges
Renewal Processing Fees
Rs 350 + GST
About Canara Bank Gold Loan:
Canara Bank is one of the most trustworthy firms in India. If you are in need of immediate finances, then a gold loan is the best option. A gold loan is a secured loan. Bank keeps the gold and money is given to the customer. Gold is kept as a security until the completion of the loan period. Canara Bank Gold Loan is an easy and hassle-free process.
If you are suffering a financial crisis then, a gold loan is there to help you and provide you with immediate funds to fulfil your dreams, personal needs, and medical emergencies, etc. If you have Gold in your safe you can take a loan against it.
- Canara Bank Gold Loan Interest Rate is 7.0% per annum
- Canara Bank Gold Loan Per Gram is ₹ 5,268
- 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:
- Loan Against Gold – Anyone in dire need of immediate funds can avail the gold loan in Canara bank whether for personal or professional use. The gold loan is a fully secured loan and therefore, the bank has no risk in lending the money to the lender, so it is provided at a lower rate of interest as compared to other forms of loans.
- Loan Against Gold for Agriculture – Canara Bank has special provisions for Gold Loans specifically for agriculture purposes. Gold loan is provided to farmers at a special rate of interest as compared to gold loans given for other uses. They are given special offers, and they need to provide the bank land proofs for which they are taking the loan.
Canara Bank Gold Loan EMI Calculator:
Rate of Interest
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 repaid in the given three different types of ways:
- Standing Instruction (SI): If you are a present account holder with Canara Bank, you can use Standing Instruction as a method of repayment as it is the most reliable method. Your EMI amount will be debited automatically towards the end of every month from the Canara Bank account you want.
- Electronic Clearing Service (ECS): This method can be applied if you have a non-Canara Bank record and might need your EMIs to be debited repetitively near the end of the month to month cycle from this account.
- Post-Dated Checks (PDC): You can present post-dated EMI analyses from a non-Canara Bank statement at your closest Canara Bank Loan Center. A new version of PDCs would be presented immediately. It would be great if you regard Post Dated Checks will be managed non-ECS states as it were.
Canara Bank Gold Loan Contact Number:
Call 9878981144now, and get instant help and approval for your Canara Bank Gold Loan. You can know all about the best offers on Gold Loan available from all the Canara Bank Branches everywhere in the country to avail the best deal according to your needs.
Gold Ornaments Accepted by Canara Bank:
- Gold Jewellery for example as Gold Bangles, Gold rings, Gold anklets, Gold necklaces, etc. all of these are accepted by Canara Bank for successfully availing a Gold Loan.
- Quality: The purity of gold should be between 18 Carat to 22 Carat. Any gold ornament provided by you which is 24 Carat, cannot be used for availing a gold loan.
Use of Canara Bank Gold Loan:
You can use the money obtained by availing the Canara Bank Gold Loan service can be used for various objectives such as:
- To support any special investments according to your needs such as matrimony, hiking, instalment of higher tuition instalments, etc
- For all your marketing necessities, such as purchasing fresh supply, developing marketing, etc., loan service is always available.
- You can also easily avail a Gold Loan for horticultural ideas. The bank gives lower prices of interest for Gold Loans that are utilized for agricultural or other related projects.
Gold Loan Interest Rate of Major Banks
|
Bank |
Interest Rates |
|
7.00% – 14.50% |
|
| 7.00% – 16.10% | |
| Muthoot Finance Gold Loan |
7.00% – 24.00% |
| 7.00% – 17.00% | |
| Manappuram Gold Loan |
7.00% – 26.00% |
| 7.00% – 15.99% | |
| Bank of India Gold Loan |
7.00% – 26.00% |
| 7.00% – 13.50% | |
| IIFL Gold Loan |
7.00% – 12.00% |
| 7.00% – 14.65% | |
|
7.00% – 12.65% |
|
| Allahabad Bank Gold Loan |
7.00% – 10.45% |
| 7.00% – 15.75% | |
| PNB Gold Loan |
7.00% – 11.75% |
| 7.00% – 26% | |
| SBI Gold Loan |
7.00% – 15.99% |
| 7.00% – 15.99% | |
| UCO Bank Gold Loan |
7.00% – 26.00% |
| 7.00% – 13.50% | |
| Syndicate Bank Gold Loan |
7.00% – 12.00% |
FAQs About Canara Bank Gold Loan:
- What is Canara Bank Gold Loan?
Canara Bank Gold Loan is a loan scheme that you can avail for urgent financial help by keeping your gold as collateral security with the bank. It also comes with attractive and low-interest rates on Term Loan, Overdraft, and EMI based loan. The average Gold Loan disbursal time at Canara Bank is just 45 minutes.
- How can I get the Gold Loan from Canara Bank?
You can avail of Canara Bank Gold Loan by personally visiting any of the gold loan offering branches of Canara Bank or you can apply online with BookMyLoans from the comfort of your home and get just the right deals and offers for you. Canara Bank is one of the leading banks in India that provides Gold Loan service.
- How much Gold Loan can I get per gram in Canara Bank?
The per gram Gold Loan in Canara Bank that you can get depends upon the purity of your gold. Canara Bank accepts gold of purity between 18 carats to 22 carats to provide a Gold Loan. You can avail up to ₹ 5268 per gram in Canara Bank Gold Loan
- What is Gold Loan Interest Rate in Canara Bank?
The Gold Loan interest rate in Canara Bank is 7.0% per annum. The rate of interest depends upon a number of factors, namely: loan amount, loan tenure, purity of gold, and relationship with Canara Bank.
- How to check my Gold Loan status in Canara Bank?
Whenever you want to determine your Canara Bank Gold Loan status, all you need to do is visit the Canara Bank Loan Status Tracker web page and fill in your details in the form given. You can very easily track the status of your loan from anywhere.
- How to calculate Gold Loan Interest in Canara Bank?
The interest on your Canara Bank Gold Loan can be calculated using BookMyLoans EMI Calculator which gives you an accurate amount based on the information you enter into the calculator.
- How to Pay Canara Bank Gold Loan Interest Online?
You can pay Canara Bank Gold Loan interest online through net banking on the official Canara Bank loan repayment web page or alternatively, you can also repay your Canara Bank Gold Loan on Paytm using your preferred payment method.
- What if I am unable to pay the interest on Canara Bank Gold Loan for 3 months?
If you are due to any reason unable to pay your Canara Bank Gold Loan within 3 months, the bank will initially remind you of your pending dues. If the payment requests go unheard then an official legal notice is sent regarding the repayment and closure of the loan. Loan Default will result in a decrease in your credit score and also makes you more susceptible to face legal actions by the bank including confiscation and auction of your gold.
- How can I apply for EMI Moratorium on Canara Bank Gold Loan?
You can apply for EMI Moratorium on Canara Bank Gold Loan right now between 1st March and 31st August 2020 and this has to be done by visiting the nearest Canara Bank branch or contacting the Bank customer care.