All of the latest updates about the Canara Bank Gold Loan is available here for the all of the interested peoples. Canara Bank Gold Loan is a secured loan against gold jewelry, coins, and bullion. The loan amount is based on the value of the collateral, and the interest rate is typically lower than for unsecured loans. The loan can be used for any purpose, and the repayment period is usually one to three years. There is no prepayment penalty, and the loan can be repaid early without penalty.
A gold loan from Canara Bank is a great way to get the funds you need, with the added security of using your gold as collateral. The interest rates on gold loans are typically lower than other types of loans, making them a good option for those who need money but don’t want to incur high-interest charges. You can use the money from a gold loan for any purpose, including home improvements, medical expenses, or even investing in a new business. To apply for a gold loan, you’ll need to have a valid ID and proof of income, as well as some form of collateral, such as gold jewelry or a gold coin.
| INTEREST RATE | 7.35% |
| LOAN TENURE | Maximum 24 months |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | No |
| PRE-CLOSURE CHARGES | As decided by the bank from time to time |
Canara Bank Gold Loan Interest Rates 2023
Canara Bank is one of the leading banks in India that offers gold loan services to its customers. The interest rate on gold loans for the year 2023 is 9.50% p.a. The interest rate is subject to change from time to time, but the current interest rate is fixed for the entire loan tenure. The minimum loan amount that can be availed is Rs. 1 lakh and the maximum loan amount is Rs. 20 lakh. The loan tenure ranges from 1 year to 3 years. The repayment of the loan can be made through EMI or lump sum payment.
| Canara Bank Gold Loan Details Updated on | |
|---|---|
| Loan Amount | Rs. 5,000 to Rs. 20 lakhs |
| Interest Rate | 7.65% onward |
| Tenure | Up to 2 years |
The interest rate on gold loans is higher than the interest rate on personal loans and credit card loans. The interest rate on gold loans is lower than the interest rate on home loans and car loans. The Canara bank gold loan interest rate for 1 lakh is also available on this page you can see and can get into your understanding. You are also able to make the calculation of the loan with the help of the Canara bank gold loan interest rate 2022 calculator.
Canara Bank Agriculture Gold Loan Interest Rate
Canara Bank Agriculture Gold Loan Interest Rate is 8.00% p.a. So, Canara Bank offers attractive interest rates on Agriculture Gold Loans to help farmers meet their working capital needs. The loan can be used for a variety of purposes, including the purchase of seeds, fertilizers, pesticides, agricultural equipment, and so on. Repayment terms are flexible, and farmers can choose to repay the loan over a period of 12 to 36 months. You are also able to get the Canara bank gold loan contact number by going on the official website of Canara bank.
Canara Bank Gold Loan Application Form PDF
Canara Bank Gold Loan Application Form PDF is available for download on the bank’s website. The form must be completed and submitted to the bank branch along with the required documents. The loan amount will be disbursed within 24 hours of approval. Further, you can see the Canara bank gold loan payment online.
Canara Bank offers gold loans at competitive interest rates. To be eligible for a loan, customers must have a minimum balance of Rs. 1 lakh in their account with the bank. The maximum loan amount that can be availed is Rs. 20 lakh. The interest rate on the loan is 10.5% per annum. The loan can be repaid over a period of 12 months.
FAQS
What is gold loan per gram?
Gold loan is used by people who need cash urgently and do not have time to wait for their gold to be sold by the gold jewelry. The higher the value of the gold, the better the interest rate offered by banks. But, the interest rate also increases with the increase in gold value. Although the interest rate is usually high in gold loans, gold loans are a quick way to get cash through the sale of gold.
