Canara Bank Gold Loan

Gold Rate: ₹ 5,121 Per Gram

⍟ Interest Rate 7.0% p.a. ⍟

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Unlock the Real Value of your Gold
Lowest Rate of Interest
Get Money in 30 Mins
Loan Amount Up to 1 Crore
Loan Tenure Up to 48 Months
Unbiased Experts Advice

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

  1. Instant Gold Loan: The sum of the Loan in Canara Bank 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 a gold loan, then it 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. Bank provides special offers to the existing account holders.
  8. THE maximum LTV ratio is 75%, and it is fixed by RBI (Reserve Bank of India).
  9. 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.
  10. 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
24 Carat
Gold Purity
22 Carat
Gold Purity
20 Carat
Gold Purity
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

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 Gold loan

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:

Age 18-75 years
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.

gold loan at 7%

Canara Bank 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 Bank Gold Loan EMI?

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

  1. Standing Instruction (SI): for current holders of the Canara Bank Bank account.
  2. Electronic Clearing Service (ECS): for borrowers of non-Canara Bank 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 +919878981166.

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

  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 material, generating sales, etc.
  5. Agricultural Purpose- Get a special rate of interest on the gold loans for cultivation persistence.

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 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.

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 Gold Loan Can I get per gram from Canara Bank Bank?

Canara Bank Gold Loan Per Gram is Rs. 5,121. 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 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.

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

The Canara Bank Gold Loan Interest Rate is 7.0% per annum.

✅ How to calculate gold loan interest in Canara Bank?

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.

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

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.

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

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.

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

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.

How to pay the Canara Bank Gold loan through 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, debits cards, cheques, demand drafts for loan repayment.