Canara Bank Gold Loan Key Features
|Canara Bank Gold Loan Interest Rate||7.15% per annum|
|Canara Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,293
|Canara Bank Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|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 system of the Canara Bank Gold Loan is fast and simple. Usually, in an hour, the loan passes.
- Low-interest rate: The interest rate for gold loans is much lower compared to other loans because it is a secured loan.
- Minimal Documentation: The documentation process is clear and straightforward; the minimum number of documents necessary for the approval of the Canara Bank gold loan is necessary.
- Transparent system: We do not levy charges for secret loans. The priorities of a bank.
- Loan Sum: The minimum amount of loan available to customers is Rs. 15000. Often, it can be less than Rs 10000 in remote areas.
- Jewellery Security: We are responsible for your jewellery care. In fireproof vaults, thus, the gold is contained.
- Loan tenure: The tenure of gold loans can be from 3 months to 2 years. You can make a choice for tenure, as per your comfort.
- Benefits for farmers: Some special deals for agricultural purposes are offered by Canara Bank. This suggests that the bank is offering farmers a slightly lower interest rate on gold loans for agricultural use.
- No Debt Burden: We are aware that there might be cases where a borrower is unable to pay for the amount of the loan, the lender will not be under debt in such a scenario as the bank will only seize the ornaments owned by you.
- No income limits: there are no such restrictions on the lender’s salary or income; thus, anybody with any range of income can use a gold loan at any time.
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 face financial difficulties, defeat your crisis with the most reasonable solution, the Gold Loan. The loan for gold given is referred to as the Gold Loan. With the lender as collateral, the borrower keeps his gold ornaments and takes the cash. Get prompt approval and a process free of hassle. Accessible with records that are convenient. A loan which is covered is a gold loan. This service can also also be used conveniently by individuals who have a low CIBIL score.
However, while there are a variety of financial banking and non-banking firms that provide you with a gold loan service, the most important factor is the Canara Bank Gold Loan. It is one of the most reputed and reliable banks in India. It is also renowned for its financial services that are extremely good. So, apply to Canara Bank for the Gold Loan and take advantage of the best deals for your piece.
- Canara Bank Gold Loan Interest Rate is 7.15% per annum
- Canara Bank Gold Loan Per Gram is ₹ 5,293
- 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 various product-related schemes for the Gold Loan that are listed below:
- Loan Against Gold – Canara Bank offers, for any reason, whether personal or technological or not, gold loans at interest rates to fulfil the desperate requirement of funds. The gold loan is certainly a secured loan then; the bank has no risk of granting the amount to the individual, so it is issued at a lower rate of interest compared to various types of loan merchandise.
- Agriculture Loan Against Gold – Canara Bank specifically provides farmers with gold loans at a specific interest rate for farming functions compared to gold loans given for other different uses. Special deals are offered to them, and they may turn out documents of the bank land for which they are taking the loan.
Canara Bank Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Canara Bank Gold Loan EMI?
Your Canara Bank gold loan is typically repaid using the following three alternative methods:
- Standing Instruction (SI): Standing Instruction is the simplest and most safe form of payment if you are already an account holder with Canara Bank. Your EMI number will be credited automatically at the end of the month to month number from the Canara Bank bank account you show.
- Electronic Clearing Service (ECS): Usually, if you have a non-Canara Bank record, this payment method is used, and you would like your EMIs to be debited from the account you listed to us near the decline of the month-to-month phase.
- Post-Dated Checks (PDC): You can reveal your post-dated EMI reports from a non-Canara Bank financial statement at your nearest Canara Bank Loan Centre. There was a need to grant a new version of PDCs promptly. If you note that Post Dated Checks are progressing because it was, it would be fine to collect non-ECS states.
Canara Bank Gold Loan Contact Number:
To receive immediate support and approval for your Gold Loan from Axis Branch, call 9878981144. You can quickly get to know the most effective Gold Loan deals out there from all Canara Bank branches worldwide to use the most productive offer applicable to your wishes.
Gold Ornaments Accepted by Canara Bank :
- For e.g, gold jewellery, gold bracelets, gold bands, gold anklets, gold necklaces, and so on. Canara Bank has bought all of these ornaments for a gold loan.
- Quality: The gold must vary in quality from 18 to 22 carats. Any gold decoration that is 24 carats will not be used when applying for a gold loan.
Use of Canara Bank Gold Loan:
The funds raised by the use of the Canara Bank Gold Loan service can be used for many functions, such as:
- To fund those personal investments, such as marriage, hiking, higher rates for education, etc.
- For all of your marketing requirements, such as getting supplies, designing, promoting, etc., loan programmes are still available.
- Furthermore, for agricultural ideas, you can also gain from a Gold Loan. The bank has lower gold loan interest rates that are used for farming or associated ventures.
Gold Loan Interest Rate of Major Banks
7.15% – 14.50%
|7.15% – 16.10%|
|Muthoot Finance Gold Loan||
7.15% – 24.00%
|7.15% – 17.00%|
|Manappuram Gold Loan||
7.15% – 26.00%
|7.15% – 15.99%|
|Bank of India Gold Loan||
7.15% – 26.00%
|7.15% – 13.50%|
|IIFL Gold Loan||
7.15% – 12.00%
|7.15% – 14.65%|
7.15% – 12.65%
|Allahabad Bank Gold Loan||
7.15% – 10.45%
|7.15% – 15.75%|
|PNB Gold Loan||
7.15% – 11.75%
|7.15% – 26%|
|SBI Gold Loan||
7.15% – 15.99%
|7.15% – 15.99%|
|UCO Bank Gold Loan||
7.15% – 26.00%
|7.15% – 13.50%|
|Syndicate Bank Gold Loan||
7.15% – 12.00%
FAQs About Canara Bank Gold Loan:
What is Canara Bank Gold Loan?
The Canara Bank Gold Loan is a form of loan that you can only use for urgent financial assistance by keeping your gold as collateral with the bank. Term Loan, Overdraft, and EMI interest rates dependent predominantly on loans are also included. The average Gold Loan disbursement time in India is only 45 minutes.
How can I get the Gold Loan from Canara Bank?
You can get a Canara Bank Gold Loan by visiting any of India’s gold loan approving branches; otherwise, you can apply online with BestLoanDeal from the comfort of your home and take the best offers and deals. It is one of the few leading banks in India offering Gold Loan facilities.
What is the Gold Loan Interest Rate in Canara Bank?
The gold loan rate in India is 7.15 per cent per annum. In general, the interest rate depends on a number of components, namely: the volume of the loan, the tenure of the loan, the purity of gold, and the relationship with the bank.
How much Gold Loan can I get per gram in Canara Bank?
The gold loan you will get from Canara Bank per gramme depends on the purity of your gold. Canara Bank accepts gold of purity from 18 carats and 22 carats to provide a gold loan. You could use up to 5,293 per gramme on the Canara Bank Gold Loan.
How to check Gold Loan status in Canara Bank?
To assess your Canara Bank Gold Loan status, you just need to go to the Canara Bank loan status tracker website and fill in your details with the application issued. You can monitor your loan’s status directly from anywhere and keep it updated.
How to calculate Gold Loan Interest in Canara Bank?
You can determine the interest on your Canara Bank Gold Loan interest through the BestLoanDeal ‘EMI Calculator, which gives you right amounts based on the information you enter into the calculator.
How to Pay Canara Bank Gold Loan Interest Online?
You can easily pay Canara Bank Gold Loan interest online via internet banking on the official Canara Bank loan repayment website or else; you can also repay your Canara Bank Gold Loan on Paytm using the most common payment form.
What if I can’t pay the interest on Canara Bank Gold Loan for 3 months?
If you do not pay the Canara Bank Gold Loan within three months, the bank will first inform you of your uncompleted dues. If the payment requests go unanswered, a formal legal notice regarding the repayment and termination of the loan is distributed. Defaulting on your gold loan leads to a decline in your credit score which allows you to face legal action by the bank, along with the confiscation which sale of your gold.
How can I apply for EMI Moratorium on Canara Bank Gold Loan?
You can currently apply for an EMI moratorium on the Canara Bank Gold Loan between 1 March and 31 August 2020 and must do so by contacting the bank’s customer service department or by visiting the nearest branch of Canara Bank.