Canara Bank Gold Loan

Canara Bank Gold Loan Highlights
Interest Rate	8.75% 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 Feb 2025

Canara Bank Gold Loan Interest Rates

The interest rate for Canara Bank Gold Loan is 8.75% 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	8.75%
Swarna Overdraft	8.75%
Swarna Express	8.75%
Swarna Monthly Interest	8.75%

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

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