Canara Bank Gold Loan Key Features
|Canara Bank Gold Loan Interest Rate||7.0% per annum|
|Canara Bank Gold Loan Per Gram||Per Gram Today ₹ 5,121|
|Age Criteria||18 to 65 years|
|Maximum Loan Amount||Up to 1 crore|
|Maximum Loan to Gold Value Ratio||Up to 75%|
|The Purity of Eligible gold||18 to 22-carat gold|
|Maximum Loan Tenure||10 yrs (After 1-year renewal is required)|
|Min ROI Per Lakh||Rs. 833|
Advantages of Canara Bank Gold Loan
- Instant Gold Loan: The sum of the Loan in Canara Bank Bank ranges from Rs.10,000 to Rs.1 crore.
- Gold Ornament: The loan can only be availed on loan ornaments.
- Loan Tenure: When it comes to avail a gold loan, then it holds a maximum duration of 10 years.
- Value for Gold: A professional Appraiser will be made available by the bank for evaluating the purity of your gold.
- 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.
- Approval duration: Within 30 minutes, you can get the Loan.
- Bank provides special offers to the existing account holders.
- THE maximum LTV ratio is 75%, and it is fixed by RBI (Reserve Bank of India).
- 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.
- The bank provides Gold Loan for agricultural activities at lower rates of interest.
How Much Gold Loan Can I Get through Canara Bank?
To the latest, Canara Bank Gold Loan Per Gram is Rs. 5121. 22-carat jewellery is calculated at a maximum LTV of 75%. Loan per gram keeps on changing every day as per the price of the gold.
Canara Bank Gold Loan Per Gram – Update October 2020
Updated - Gold Loan Per Gram Rate w.e.f 1 Nov 2020
|Gold Weight||Gold Purity
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 Canara Bank Gold Loan, you need to apply here.
Canara Bank Bank is one of the largest public sector banks as well as 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 product 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 7.0% per annum.
- Canara Bank Gold Loan Per Gram is Rs. 5,121.
- 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:
|Requirements||Gold ornaments (18-22 carats)|
|CIBIL Score||Above 500|
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 coloured|
Canara Bank Gold Loan Interest Rate, Fees and Charges
|Canara Bank Gold Loan Interest Rate||7.0% 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 Bank Gold Loan Schemes
- Overdraft Facility: Most popularly used by the 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 Bank Gold Loan Interest Rate.
Canara Bank Gold Loan Apply Online
The process to apply online for Canara Bank Gold Loan is as follows:
- Visit us at DialaBank.
- Go to the specific Canara Bank’s Gold Loan page.
- 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 Bank Gold Loan EMI Calculator
|Rate||6 months||1 Yr||2 Yrs||3 Yrs|
How to Pay Your Canara Bank Bank Gold Loan EMI?
Your Canara Bank Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): for current holders of the Canara Bank Bank account.
- Electronic Clearing Service (ECS): for borrowers of non-Canara Bank bank.
- Post-Dated Checks (PDC): Post-dated cheques can be posted from a non – Canara Bank account nearby.
Canara Bank Gold Loan Contact Number
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 jewelry as security.
- Minted coins are not granted.
Use of Canara Bank Gold loan
- 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.
- 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.
- Multipurpose – The loan value can be used for numerous objectives like financing a holiday, comprising wedding investments, clearing off pharmaceutical bills, etc.
- Business Purpose- You can apply for the Canara Bank Bank gold loan for all your shopping needs, such as buying raw material, generating sales, etc.
- Agricultural Purpose- Get a special rate of interest on the gold loans for cultivation persistence.
FAQs About Canara Bank Gold Loan
Canara Bank Gold Loan is a borrowing option available to all individuals who own any form of gold jewelry 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.
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.
Canara Bank Gold Loan Per Gram is Rs. 5,121. It varies according to the quality of your gold.
The Canara Bank Gold loan works as a simple borrowing service available for any individual who is in need of 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.
The Canara Bank Gold Loan Interest Rate is 7.0% per annum.
To calculate the gold loan interest in Canara Bank Bank just subtract the principal amount from the total loan amount to be paid by the borrower.
The maximum gold loan amount that can be availed on a gold loan from Canara Bank Bank is up to 75% of the gold jewelry’s value kept as collateral.
The loan tenure of the Canara Bank Bank gold loan is up to 10 years. But you will be required to renew your loan after 1 year.
You can ask for an EMI Moratorium on 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.
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, debits cards, cheques, demand drafts for loan repayment.
Table of Contents
- 1 Canara Bank Gold Loan Key Features
- 2 Advantages of Canara Bank Gold Loan
- 3 How Much Gold Loan Can I Get through Canara Bank?
- 4 About Canara Bank Bank Gold Loan
- 5 Canara Bank Gold Loan Eligibility
- 6 Canara Bank Gold Loan Documents Required
- 7 Canara Bank Gold Loan Interest Rate, Fees and Charges
- 8 Canara Bank Bank Gold Loan Schemes
- 9 Canara Bank Gold Loan Apply Online
- 10 Canara Bank Bank Gold Loan EMI Calculator
- 11 How to Pay Your Canara Bank Bank Gold Loan EMI?
- 12 Canara Bank Gold Loan Contact Number
- 13 Gold Ornaments accepted by Canara Bank Gold Loan
- 14 Use of Canara Bank Gold loan
- 15 FAQs About Canara Bank Gold Loan
- 15.1 ✅ What is Canara Bank Gold Loan?
- 15.2 ✅ How Can I Get Gold Loan From Canara Bank Bank?
- 15.3 ✅ How much Gold Loan Can I get per gram from Canara Bank Bank?
- 15.4 ✅ How Does Canara Bank Gold Loan work?
- 15.5 ✅ What is the Gold Loan interest rate in Canara Bank Bank?
- 15.6 ✅ How to calculate gold loan interest in Canara Bank?
- 15.7 ✅ What is the maximum gold loan amount I can avail of on a gold loan from Canara Bank Bank?
- 15.8 ✅ What is the loan tenure of the Canara Bank Bank gold loan?
- 15.9 ✅ How can I apply for EMI moratorium on the Canara Bank Gold loan?
- 15.10 ✅ How to pay the Canara Bank Gold loan through credit card?