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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 70% of gold’s market value |
| Tenure | Up to 2 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 7th November 2024
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% |
Get a gold loan for your immediate financial needs Apply Now
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
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 70% of appraised value of gold
Tenure: Up to 6 months
Repayment Option: Interest payment method
Canara MSME Gold Demand Loan
Purpose: Consumers can avail Canara MSME Gold Demand Loan to meet the business requirements of its applicants, such as providing financial assistance to MSME units for fund based requirements of general businesses, for acquiring machinery/equipment/tools for repair and renovation and for raising working capital.
Loan Amount: Rs 50,000- Rs 35 lakh
LTV Ratio: Up to 65% of appraised value of gold
Tenure: Up to 1 year
Repayment Option: Interest payment method
Canara MSME Gold Overdraft
Purpose: Canara MSME Gold Overdraft loan is offered to provide financial assistance to MSME units for fund based requirements for general business purposes, for augmenting working capital, purchasing machinery/tools/equipment, etc.
Loan Amount: Rs 50,000- Rs 35 lakh
LTV Ratio: Up to 70% of appraised value of gold
Tenure: Up to 1 year
Repayment Option: Interest payment method
Get a gold loan for your immediate financial needs Apply Now
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.
MSME Gold Demand Loan
MSME Units (Individuals and Proprietorship firms only), both borrowing and non-borrowing units of our Bank are eligible for MSME Gold Demand Loan
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