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Canara Bank Gold Loan Highlights |
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| Interest Rate | 9.00% p.a. |
| Loan Amount | Rs 5,000- Rs 35 lakh |
| LTV Ratio | Up to 80% of gold’s market value |
| Tenure | Up to 3 years |
| Collateral/Security | Gold ornaments/jewellery/specially minted gold coins sold by banks of up to 50 gm per customer |
| Processing Fee | Up to 0.50% of loan amount (maximum Rs 5,000) |
Rates as of 27 January 2025
Canara Bank Gold Loan Interest Rates
The interest rate for Canara Bank Gold Loan is 9.00% p.a. The lender has disclosed its differential gold loan interest rates depending on the type of gold loan scheme offered by the bank.
| Products | Interest Rate (p.a.) |
| Swarna Loan | 9.00% |
| Swarna Overdraft | 9.00% |
| Swarna Express | 9.00% |
| Swarna Monthly Interest | 9.00% |
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Canara Bank Gold Loan Processing Fees
Find below the processing fees charged by the Canara Bank for its various types of gold loan products:
For Swarna Express: 0.15% of the loan amount (Min. Rs. 125 & Max. Rs. 1500)
For Swarna Loan, Swarna Overdraft, Swarna Monthly Interest and Swarna Express: 0.30% of the loan amount (Min. Rs. 250 & Max. Rs. 3000)
Note: The above mentioned consolidated processing charges are excluding GST and valid till 31.03.2025.
Types of Canara Bank Gold Loan
Canara Bank Swarna Loan
Purpose: Consumers can avail Canara Bank Swarna Loan to meet their medical expenses and other unforeseen commitment or contingencies.
Loan Amount: Rs 5,000- Rs 35 lakh
LTV Ratio: Up to 65% of appraised value of gold
Tenure: Up to 1 year
Repayment Option: Bullet repayment method
Canara Bank Swarna Express
Purpose: Canara Bank Swarna Express Loan is offered to raise funds for meeting medical expenses and other unforeseen commitment or contingencies.
Loan Amount: Rs 5,000- Rs 35 lakh
LTV Ratio: Up to 70% of appraised value of gold
Tenure: Up to 6 months
Repayment Option: Bullet repayment method along with interest rate
Canara Bank Swarna Monthly Interest Loan
Purpose: To meet the unforeseen contingencies (non-speculative purposes)
Loan Amount: Rs 5,000- Rs 35 lakh
LTV Ratio: Up to 75% of appraised value of gold
Tenure: Up to 12 months
Repayment Option: Interest payment method
Canara Bank Swarna Overdraft
Purpose: Canara Bank offers gold loan overdraft facility to its gold loan applicants under the brand Canara Bank Swarna Overdraft scheme. Consumers can avail this scheme to meet their medical expenses and other unforeseen contingencies.
Loan Amount: Rs 5,000- Rs 35 lakh
LTV Ratio: Up to 75% of appraised value of gold
Tenure: Up to 2 years
Repayment Option: Interest payment method
Overdraft Against Gold Jewellery for Allied Activities
Loan Amount: Rs 1.60 lakh – Rs 35 lakh
LTV Ratio: Up to 85% of appraised value of gold
Tenure: Up to 6 months
Repayment Tenure: Up to 3 years subject to annual review
Loans against Gold Jewellery for Allied Activities (monthly instalments)
Nature of facility: Single Transaction Limit
Loan Amount: Rs 100 – Rs 35 lakh
LTV Ratio: Up to 80% of appraised value of gold
Repayment Tenure: Up to 12 months
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Eligibility Criteria for Availing Canara Bank Gold Loan
Canara Bank offers gold loans to resident individuals and NRIs. However, the lender may also consider other factors including the age and profession of its applicants, weight and purity of gold ornaments pledged as security, etc.
Documents Required for Availing Canara Bank Gold Loan
Canara Bank has not mentioned the documents required for availing gold loan. However, the applicants can consider the following gold loan documents while applying for Canara Bank Gold Loan.
- Duly filled application form with photographs
- Address Proof- Aadhar card, Voter ID, Driving License
- ID Proof- Driving License, Aadhar card, Voter ID card