Canara Bank Gold Loan
AVAIL GOLD LOAN IN 5 MINUTES NOW!
Call us on 011 60011600 (Single Number across 18 Cities)
Delhi | Mumbai | Kolkata | Bangalore | Hyderabad | Ahmedabad | Chandigarh | Jalandhar | Ludhiana | Chennai | Pune | Jaipur | Lucknow | Baroda | Surat | Indore | Coimbatore | Bhopal
9878981166 (Other Cities)
Canara Bank was started in 1906 for the welfare of the people of Karnataka and to create financial awareness among the people. They work on the belief of serving the community as a whole. To overcome your short term needs like medical expenses, paying debt, bills etc you can avail a financial help from Canara bank. The Swarna Loan scheme of Canara bank is the best loan present in the market.
Why Canara Bank Gold Loan?
- Loan Amount: A maximum amount of Rs.10,00,000 can be availed.
- EMI options: Hassle free payment of EMIs.
- Instant liquidity: Enjoy liquidity of cash at any time. Generate instant cash in time of need.
- Security: The customer will be assured that their gold is in safe hands.
- Interest Rates: Individual can get the advantage of lower interest rates for this Loan.
- A person can also apply for Gold Finance on Agricultural Land on their name and get a discount of 1% on the interest rate charged.
|Loan Tenure / Period||Rate of Interest (p.a.)||Valuation Fee|
|12 months||12.50 to 13.50%||NIL|
Features of Gold Loan
Following are the Features of Gold Loan:
- You can avail Loan up to Rs.1 Crore or more & up to 70% of the value for any purpose.
- You get 100% Safety & Security of your Gold Jewellery
- Get your Loan processed in less than 30 minutes
- Enjoy Anytime Liquidity.
- No EMI, Service only Interest and enjoy the Loan facility
- Lower Interest Rates
- Simple documentation and fast processing.
- Overdraft limit varies depending on the market rate of gold.
- Interest rate is payable only amount of the overdraft that you use.
Advantages of Taking a Gold Loan
Following are the Advantages of a Gold Loan:
- No income and salary criteria- Gold loans do not require any documentation or validation of income or salary of the person. So even if you are unemployed and unsalaried you can still avail a gold loan. This is because you are pledging a valuable asset i.e. gold in return of the money.
- Can be provided in cases of bad credit history as well as low-income level.
- Relatively Lower interest rates- Another advantage of taking a gold loan is that they are available at low-interest rates say 12-16% annually in comparison to the personal loans interest rates of 15-26% per annum.
- You need to repay only the interest- You have the option to pay only the interest during the tenure of the entire gold loan and at the end of tenure, you can pay the entire borrowed amount in a single shot.
- Total Convenience- The most convenient of all the loans is gold loan. This is because in this all you have to do is pledge your gold with a bank or a private finance institute and the work is done. You can get a loan up to 80% or more of its market value immediately.
- Less processing time- No tedious and lengthy documentation is required in case of gold loans, hence it can be resorted to in times of urgent needs. Banks take a few hours in the processing of the gold loan whereas some NBFC’s state that they only take a few minutes for the same task.
Documents Required for Gold Loan
- Proof of Identity: Passport Copy/ Voters ID card/ Driving License.
- Address Proof:: Ration card/ Tel, Electricity Bill/ Rental bill/ Passport copy/Trade license /Shop & Est. License/Sales Tax certificate.
- Signature Proof: Passport Copy/Driving License/Banker's verification/cheque.
- 2 passport size photographs.
Canara Bank Gold Loan Procedure
- First of all, Apply online for the loan against gold.
- Afterwards, borrower will have to submit an application form along with his / her valuable Gold asset.
- Then the bank will evaluate the real value of your Gold in terms of its purity and weight.
- Finally, the Loan is sanctioned to the applicant after checking the genuineness of the asset provided.
- The whole Gold Loan process takes around.
* For any assistance regarding Gold Loan, call us on 60011600, our trained Relationship Managers will solve all your queries.
|Leading Gold Loan Providers (Click to Apply)|
Should you opt for gold loan from a bank or an NBFC?
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Banks still preserve their edge over NBFCs in Gold Loan Race
GET THE CHEAPEST GOLD LOAN IN JUST 5 MINUTES Call us on 60011600 (Single Number across 18 Cities)
RBI Increased NBFCs Gold Loan Limit to 75 per cent
Mumbai Jan 9 : People who want to avail Gold Loan can borrow more as Reserve Bank of India on Wednesday allowed Non Banking Financial Companies to lend up to 80 percent of the amount of metal with an increase of 20%. RBI said, "It has been decided to raise the LTV (Loan-To-Value) ratio to up to 80 per cent for loans against the collateral of gold jewelry from the present limit of 60 per cent with immediate effect".