Canara Bank has great gold loan rates, from Rs. 3,725 to Rs. 4,000 per gram. This makes it a top choice for those seeking a jewel loan. The bank’s gold loan scheme comes with many benefits, like flexible payback plans and a loan calculator.
The gold loan scheme helps those who use their gold jewelry as collateral. It offers loans from Rs. 5,000 to Rs. 35,00,000, for those 18 and older. With a 9.25% interest rate, it’s a good deal compared to others.
Many choose Canara Bank’s gold loan for its low rates and flexible payback options. The appraiser’s fees vary by gold asset. The swarna loan processing fee is 0.5% of the loan, with a minimum of Rs. 500 and a maximum of Rs. 5,000.
Key Takeaways
- Canara Bank offers a competitive gold loan interest rate of 9.25%.
- The per gram rate for canara bank jewel loan ranges from Rs. 3,725 to Rs. 4,000.
- The loan amount range for canara bank gold loan scheme is Rs. 5,000 to Rs. 35,00,000.
- The minimum age eligibility for canara bank gold loan is 18 years.
- The loan tenure for canara bank gold loan is 1 year.
- The processing fee for swarna loan is 0.5% of the loan amount.
Understanding Canara Bank Jewel Loan Per Gram Rates for 2025
To grasp the Canara Bank jewel loan per gram rates for 2025, it’s key to look at the current gold loan interest rates. These rates start at 9.25% per year. The canara bank gold loan scheme has several plans, like Swarna Loan, Swarna Overdraft, and Swarna Express. Each plan changes the per gram rates in its own way.
Several things affect the per gram rates. These include the loan amount, interest rate, and how long you take to repay. For example, a bigger loan or longer repayment time might change the interest rates. Also, the market and gold prices can shift the rates. To figure out how much you can borrow, use a jewel loan calculator. It considers the gold’s weight, purity, and today’s market price.
The table below shows the main points of Canara Bank’s gold loan plans:
| Scheme | Interest Rate | Loan Amount | Processing Fee |
|---|---|---|---|
| Swarna Loan | 9.25% p.a. | ₹5,000 to ₹35 Lakh | 0.50% of loan amount |
| Swarna Overdraft | 9.25% p.a. | ₹5,000 to ₹35 Lakh | 0.50% of loan amount |
| Swarna Express | 9.25% p.a. | ₹5,000 to ₹35 Lakh | 50% of Swarna Loan charges |
By thinking about these points and using a jewel loan calculator, you can make smart choices. This way, you can pick the best canara bank gold loan scheme for your needs.
Benefits of Choosing Canara Bank for Gold Loans
Choosing a reliable lender for a gold loan is key. Canara Bank is a best gold loan provider with many benefits. They offer competitive interest rates and flexible repayment plans. Their gold loan interest rate starts at 7.25% onwards, making it a secure gold loan against jewellery option.
Here are some reasons to choose Canara Bank for your gold loan:
- High loan amount range: Rs. 5,000 to Rs. 1 crore
- Flexible loan tenure: Up to 10 years
- Minimal processing charges: 0.5% + GST
- Instant loan disbursement: Within 30 minutes after approval
Canara Bank offers a hassle-free gold loan experience. They have minimal documentation and quick processing. This makes them a top choice for securing a gold loan against your jewellery. You can trust that your gold is safe and get a fair interest rate.
Key Features of Canara Bank’s Gold Loan Scheme
Canara Bank’s gold loan scheme offers many benefits. It has a high loan to value ratio and flexible repayment options. The rate for loan against gold per gram is competitive, attracting many borrowers.
To get a jewel loan from Canara Bank, you can visit a branch or apply online. This makes it easy for people to access the loan.
The canara bank gold loan scheme allows for loans up to Rs. 1 Crore. The minimum loan amount is ₹ 15,000. The interest rate is 7.25% per annum, and the processing fee is 1.50% of the principal loan amount.
The repayment period ranges from 3 months to 24 months. This gives borrowers the flexibility to repay their loan as they see fit.
The following table highlights the key features of Canara Bank’s gold loan scheme:
| Feature | Details |
|---|---|
| Maximum Loan Amount | Up to Rs. 1 Crore |
| Minimum Loan Amount | ₹ 15,000 |
| Interest Rate | 7.25% per annum |
| Processing Fee | 1.50% of the principal loan amount |
| Repayment Tenure | 3 months to 24 months |
Eligibility Criteria for Canara Bank Jewel Loans
To get a Canara Bank jewel loan, you need to meet some requirements. You must be between 21 and 65 years old. Also, you should have a steady income to pay back the loan. Your credit score is important too for getting good gold loan interest rates from Canara Bank.
The Canara Bank gold loan scheme is easy to get for many people. Here are some important details:
- Minimum loan amount: Rs. 5,000
- Maximum loan amount: Rs. 35,00,000
- Loan tenure: up to 10 years
- Interest rate: 7.25% and above
The loan to value ratio is usually 75% of the gold’s value for the Swarna Loan. But, during times like the Covid pandemic, Canara Bank might offer up to 85% to 90% LTV. The gold loan interest rates and canara bank jewel loan per gram rates are good, making it a great choice for gold loans.
Knowing the eligibility for Canara Bank jewel loans helps you decide if it’s right for you. With flexible repayment and competitive rates, the Canara Bank gold loan scheme is a great option for using gold jewelry as collateral.
Documentation Requirements and Application Process
To apply for a canara bank gold loan scheme, you need to provide some documents. These include proof of identity, address, and income. The jewel loan calculator helps figure out how much you can borrow based on your gold’s value.
The loan rate against gold per gram changes with gold’s purity and market price. The minimum loan is INR 10,000, and the maximum is up to INR 10 Lakhs.
To apply, you must submit the needed documents and fill out the application form. The loan’s processing fee is 1% of the amount borrowed. The interest rate for Canara Bank gold loans is 13%, but it can change based on bank policies.
| Loan Amount | Interest Rate | Processing Fee |
|---|---|---|
| INR 10,000 – INR 10 Lakhs | 13% | 1% of loan amount |
The loan is usually disbursed within one hour. This makes it a fast and easy option for those needing funds. With the canara bank gold loan scheme, you can borrow against your gold. The jewel loan calculator helps determine your eligible loan amount.
Understanding the Jewel Loan Calculator
The jewel loan calculator is a handy tool for those looking to get a gold loan from Canara Bank. It helps figure out how much you can borrow based on your gold jewelry’s value. You can use the calculator to see how much you might get, considering the loan term, interest rate, and the amount you want to borrow.
Canara Bank’s gold loan scheme has great interest rates, making it a good choice for quick cash needs. The way interest is calculated is simple. It’s the loan amount times the interest rate, divided by the number of months in the loan term.
Here are some important things to think about when using the jewel loan calculator:
- Loan tenure: The loan term can be from 1 year to 7 years.
- Interest rate: Gold loan interest rates start at 7% per year and can reach up to 17.5% per year.
- Loan amount: You can borrow from Rs. 10,000 to Rs. 10 lakhs.
Using the jewel loan calculator helps you make smart choices about your gold loan. The Canara Bank gold loan scheme is well-liked for its flexible repayment plans and good interest rates.
| Loan Amount | Interest Rate | Loan Tenure | EMI |
|---|---|---|---|
| Rs. 1 lakh | 12.00% per annum | 1 year | Rs. 8,885 |
Types of Gold Accepted as Collateral
When looking into a canara bank jewel loan per gram, it’s key to know what gold is accepted. Canara Bank takes different gold types, like gold ornaments, jewelry, and minted gold coins. The gold loan interest rates can change based on the gold’s type and purity.
The canara bank gold loan scheme aims to offer flexibility and ease. The bank accepts gold with a minimum purity of 18 carats. This makes it available to many customers. The accepted gold types are:
- Gold ornaments
- Jewelry
- Specially minted gold coins, with a total weight not exceeding 50 grams per customer
Knowing what gold is accepted is important for the canara bank jewel loan per gram rate and gold loan interest rates. Choosing Canara Bank’s gold loan scheme lets customers enjoy good interest rates and flexible repayment plans.
Comparing Canara Bank’s Gold Loan with Other Banks
When looking for a gold loan, comparing options from different banks is key. Canara Bank is a well-known bank for gold loans. But how does it stack up against others in terms of rates and features?
When getting a gold loan, interest rates, fees, and loan length are important. Canara Bank offers a 7.25% interest rate. They lend up to Rs. 35,00,000 and start at Rs. 5,000. Other banks like Axis, ICICI, and HDFC have rates from 8.50% to 13.50%.
| Bank | Interest Rate | Maximum Loan Amount |
|---|---|---|
| Canara Bank | 7.25% | Rs. 35,00,000 |
| Axis Bank | 13.50% | Rs. 20,00,000 |
| ICICI Bank | 10.50% | Rs. 15,00,000 |
| HDFC Bank | 8.50% | Rs. 25,00,000 |
Comparing gold loans helps you pick the best one for you. Look at interest rates, fees, and loan length. This way, you can get a gold loan that fits your needs.
Special Schemes and Promotional Offers
Canara Bank has special schemes and offers for gold loan customers. This makes it a great choice for those needing a loan against gold per gram. The canara bank gold loan scheme is easy and convenient. It helps customers plan their finances with a jewel loan calculator.
The bank offers lower interest rates and fees. For example, the Swarna Loan’s processing fee is 0.5% of the loan amount. This fee ranges from ₹500 to ₹5,000. Also, there’s a 50% discount on standard charges for Swarna Express.
- Competitive interest rates, starting from 7.25% onwards
- Flexible repayment options, with a loan tenure of up to 10 years
- Quick disbursement of loan amount, within 30 minutes of application approval
- Attractive discounts on processing fees, with a 50% discount on Swarna Express
Canara Bank’s offers make it a top choice for gold loans. With good interest rates, flexible terms, and discounts, customers get a great experience.
Conclusion: Making the Right Choice for Your Gold Loan Needs
When looking for a gold loan, Canara Bank’s Jewel Loan Scheme stands out. It offers interest rates as low as 9.25% per year. Plus, it has a flexible loan-to-value ratio of 75%, helping you get the financial help you need.
The bank also has strong security and an easy application process. This makes borrowing from them a smooth experience.
Canara Bank’s gold loan rates are competitive compared to other banks and NBFCs. They also have minimal paperwork and flexible repayment plans. If you want to use your jewelry’s value or need quick cash, Canara Bank’s Jewel Loan Scheme is a great option.
FAQ
What are the current gold loan interest rates offered by Canara Bank?
Canara Bank’s gold loan interest rates change based on the loan amount, how long you want to borrow, and market conditions. It’s best to check with the bank for the latest rates on their gold loan schemes.
What are the key features of Canara Bank’s gold loan scheme?
Canara Bank’s gold loan scheme has many benefits. It offers a high loan-to-value ratio and flexible repayment options. Your jewelry is also kept safe. Plus, you can get funds quickly and easily.
What are the eligibility criteria for availing a Canara Bank jewel loan?
To get a Canara Bank jewel loan, you need to meet certain requirements. You must be of a minimum age, have a stable income, and a good credit history. The bank also looks at the value and condition of your jewelry.
How can I use the Jewel Loan Calculator to estimate my eligible loan amount?
Canara Bank has a Jewel Loan Calculator on their website. You can input the weight and purity of your gold jewelry. This will help you estimate the loan amount and interest rate you might get.
What types of gold are accepted as collateral for Canara Bank gold loans?
Canara Bank accepts many types of gold for their loans. This includes gold ornaments, jewelry, and minted gold coins. The bank checks the gold’s weight, purity, and condition to decide the loan amount.
How does Canara Bank’s gold loan scheme compare to other banks?
Canara Bank’s gold loan scheme is competitive. It offers good interest rates, low fees, and great features. The bank is also known for its reliability and customer service, making it a top choice for borrowers.
Are there any special schemes or promotional offers available for Canara Bank gold loans?
Yes, Canara Bank sometimes offers special deals. These can include lower interest rates or reduced fees. Borrowers should check with the bank for the latest offers and promotions.