Canara Bank Gold Loan Key Features
|Canara Bank Gold Loan Interest Rate||7.10% per annum|
|Canara Bank Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,255
|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 disbursal process of the Canara Bank Gold Loan is rapid and easy. The loan gets typically passed in an hour.
- Low-Interest Rate: The interest rate of gold loans are much lower as compared to other loans as it is a secured loan.
- Minimal Documentation: The documentation process is simple and straightforward; the least number of documents are required for approval of the Canara Bank gold loan.
- Transparent System: We apply no hidden charges on loan. The bank aims to remain fully transparent to you.
- Loan Amount: The minimum amount of loan available to customers is Rs. 15000. Many times, it can be less than Rs 10000 in remote areas.
- Security of Jewelry: We are responsible for the security of your gold. Thus, the gold is kept in fireproof vaults.
- Loan Tenure: The tenure of the gold loan can be from 3 months to 2 years. You can make a choice for the tenure according to your comfort.
- Benefits for Farmers: Canara Bank provides some special offers for agricultural purposes. That indicates the bank offers the farmers a slightly lower Gold loan interest rate for agricultural usage.
- No Debt Burden: We are aware that there can arise situations in which an applicant is unable to compensate the loan amount, in such a scenario the lender will not be under debt as the bank will only seize the ornaments kept by you.
- No Income bounds: There are no such limitations regarding the salary or income of the lender; therefore, anyone with any income range can avail of a gold loan anytime.
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 are facing financial issues, defeat your crises with the most reasonable option, Gold Loan. The loan that is provided towards gold is referred to as Gold Loan. The borrower keeps his gold ornaments as collateral with the lender and takes the cash. Get immediate approval and a hassle-free process. Available on easy documentation. A gold loan is a secured loan. Therefore, the individual who has a low CIBIL rating also can easily avail of this service. Canara Bank Gold Loan is few of the best gold loan offerings in India.
Though there are a variety of financial banking and non-banking businesses that provide you with a gold loan service, however, Canara Bank Gold Loan is taken into consideration the most. It is one of the maximum reputed and dependable banks in India. Also, It is renowned for its extremely good economic services. So, apply for the Canara Bank Gold Loan and avail the best offers on your product.
- Canara Bank Gold Loan Interest Rate is 7.10% per annum
- Canara Bank Gold Loan Per Gram is ₹ 5,255
- 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 offers varied schemes connected to the Gold Loan product that are listed below:
- Loan Against Gold – Canara Bank provides Gold Loan at engaging rates of interest to meet anyone’s dire requirement of funds for any purpose whether or not personal or professional. The gold loan surely is a secured loan then; the bank has no risk in granting the amount to the individual, so it’s provided at a lower rate of interest compared to various types of Loan merchandise.
- Loan Against Gold for Agriculture – Canara Bank provides Gold Loans specifically for agriculture functions to farmers at a specific rate of interest as compared to gold loans given for other various uses. They are given special offers and that they ought to turn out the bank Land proofs that they are taking the Loan for.
Canara Bank Gold Loan EMI Calculator:
Rate of Interest
How to Pay Your Canara Bank Gold Loan EMI?
Your Canara Bank gold loan is usually reimbursed inside the following three alternative methods:
- Standing Instruction (SI): Standing Instruction is the best and most reliable method of payment if you are currently an account holder with Canara Bank. Your EMI amount is credited automatically towards the end of the month to month quantity from the Canara Bank bank account you show.
- Electronic Clearing Service (ECS): This method of payment is usually applied if you have a non-Canara Bank record and might want your EMIs to be debited consequently near to the decline of the month to month process from the account you mention to us.
- 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 Center. A different version of PDCs got to be granted quickly. It will be great if you note Post Dated Checks are progressing to be collected non-ECS states because it was.
Canara Bank Gold Loan Contact Number:
Call 9878981144 and acquire immediate help and approval for your Canara Bank Gold Loan. You can easily get to know the most effective offers on Gold Loan out there from all the Canara Bank Branches throughout the country to avail the most efficient deal applicable to your wishes.
Gold Ornaments Accepted by Canara Bank :
- Gold jewellery, for instance, Gold Bangles, Gold bands, Gold anklets, Gold necklaces, etc. all of these ornaments are acquired by Canara Bank for availing a Gold Loan.
- Quality: The quality of gold has to be between 18 Carat to 22 Carat. Any gold ornament that is 24 Carat cannot be used when applying for a gold loan.
Use of Canara Bank Gold Loan:
The funds collected by availing the Canara Bank Gold Loan service may be used for several functions such as:
- To fund any particular investments like matrimony, hiking, instalment of higher tuition payments, etc.
- For all of your marketing requirements, like getting supplies, developing, promoting, etc., loan service is always available.
- You can also furthermore avail of a Gold Loan for agriculture ideas. The bank presents lower prices of interest for Gold Loans that are used for farming or connected projects.
Gold Loan Interest Rate of Major Banks
7.10% – 14.50%
|7.10% – 16.10%|
|Muthoot Finance Gold Loan||
7.10% – 24.00%
|7.10% – 17.10%|
|Manappuram Gold Loan||
7.10% – 26.00%
|7.10% – 15.99%|
|Bank of India Gold Loan||
7.10% – 26.00%
|7.10% – 13.50%|
|IIFL Gold Loan||
7.10% – 12.00%
|7.10% – 14.65%|
7.10% – 12.65%
|Allahabad Bank Gold Loan||
7.10% – 10.45%
|7.10% – 15.75%|
|PNB Gold Loan||
7.10% – 11.75%
|7.10% – 26%|
|SBI Gold Loan||
7.10% – 15.99%
|7.10% – 15.99%|
|UCO Bank Gold Loan||
7.10% – 26.00%
|7.10% – 13.50%|
|Syndicate Bank Gold Loan||
7.10% – 12.00%
FAQs About Canara Bank Gold Loan:
What is Canara Bank Gold Loan?
Canara Bank Gold Loan is a loan type that you just can avail for urgent financial help by keeping your gold as collateral with the bank. It also comes with engaging interest rates on Term Loan, Overdraft, and EMI based mostly on loan. The average Gold Loan disbursal time in India is just 45 minutes.
How can I get the Gold Loan from Canara Bank?
You can get a Canara Bank Gold Loan by visiting any of the gold loan approving branches in India; otherwise, you can apply online with MagicLoans from the comfort of your home and take the best deals and offers. It is among one of the few leading banks in India that has Gold Loan services.
What is the Gold Loan Interest Rate in Canara Bank?
The Gold Loan rate in India is 7.10% per annum. The interest rate depends upon a variety of components, namely: loan amount, loan tenure, purity of gold, and relationship with the bank.
How much Gold Loan can I get per gram in Canara Bank?
The per gram Gold Loan in Canara Bank that you just will get depends on the purity of your gold. Canara Bank accepts gold of purity between 18 carats to 22 carats to deliver a Gold Loan. You’ll be able to avail up to ₹ 5,255 Per Gram in Canara Bank Gold Loan.
How to check Gold Loan status in Canara Bank?
In order to determine your Canara Bank Gold Loan status, all you have to do do is visit the Canara Bank loan status tracker web page and fill in your details within the application given. You’ll be able to directly track the status of your loan from anyplace and keep updated.
How to calculate Gold Loan Interest in Canara Bank?
You can calculate the interest on your Canara Bank Gold Loan interest through MagicLoans’ EMI Calculator which provides you exact 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 through internet banking on the official Canara Bank loan repayment website or else; you can likewise repay your Canara Bank Gold Loan on Paytm applying your most preferred payment method.
What if I can’t pay the interest on Canara Bank Gold Loan for 3 months?
If you are not paying your Canara Bank Gold Loan within three months, the bank will first remind you of your incomplete dues. If the payment requests go unheard, a formal legal notice is distributed regarding the repayment and closure of the loan. Defaulting on your Gold Loan leads to a decrease of your credit score and conjointly causes you to be susceptible to face legal actions by the bank together with the 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 currently between the 1st March and 31st August 2020 and has got to be done by contacting the Bank customer care or visiting the closest Canara Bank branch.