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Canara Bank Gold Loan
Of Appraised Gold Value
NA
Best Rate
13.00%
Processing Fee
nil*
Currently not available! for similar products
Key Highlights of Canara Bank Gold Loan
Feature | Details |
|---|---|
Gold Loan Schemes | Swarna Loan, Swarna Express, Swarna Overdraft |
Loan Amount Range | Rs. 5,000 to Rs. 35 Lakhs |
Loan-to-Value (LTV) | Up to 80% of the gold’s market value |
Interest Rate | Starting from 8.95% p.a. |
Processing Fee (Swarna Loan & Overdraft) | 0.30% of loan amount (Min Rs.250, Max Rs.3,000) |
Processing Fee (Swarna Express) | 0.15% of loan amount (Min Rs.125, Max Rs.1,500) |
Loan Tenure | Upto 12 months |
Repayment Method | Bullet repayment option available |
Collateral Accepted | Gold jewellery, ornaments, or bank-minted gold coins (up to 50 gms per customer) |
Appraiser Charges | Applicable charges borne by the borrower |
Safe Keeping Charges | Rs.200 after 30 days from loan expiry or closure |
Introduction to Canara Bank Gold Loan
Canara Bank offers loan against gold at competitive interest rates. Being one of the major gold loan providers, Canara Bank understands the needs of the customers and disburses the loan amount in an hour. The gold pledged is safely locked in the bank locker and you do not have to worry about its safety. The gold rates and all other charges are intimated to you upfront in a transparent manner before sanctioning the loan amount. Hence you do not have to worry about the hidden charges and fees on the gold loan.
Canara Bank Gold Loan Interest Rates 2026
Canara Bank gold loan interest rates start from 8.95% per annum. The applicable interest rate may vary depending on the gold loan scheme you choose. Canara Bank offers multiple gold loan schemes designed to meet different financial needs. The table below highlights the various Canara Bank Gold Loan schemes currently available.
Gold Loan Schemes | Interest Rates |
|---|---|
Swarna Loan | 8.95% p.a. |
Swarna Express | 8.95% p.a. |
Swarna Overdraft | 8.95% p.a. |
Swarna Monthly Interest Loan | 8.95% p.a. |
Canara Bank Gold Loan Eligibility Criteria
The eligibility criteria are explained in detail below.
- Age of the individual should be minimum of 18 years old
- Being an existing account holder of the bank will be an added advantage.
- In case of new customers, you should be exhibit your credit worthiness to the bank.
Documents Required
Canara Bank does not specify an exclusive list of documents for gold loans. However, the following documents are generally required to avail the loan at the best interest rates.
- Duly filled application form with photographs.
- Address Proof: Aadhar card, Voters ID card, Driving License
- ID Proof: Aadhar card, Voters ID card, Driving License
- Certificate from the appraiser appraising the quality of gold. The appraisal will be arranged by the bank.
Various Gold Loan Schemes Offered by Canara Bank
To meet the diverse financial needs of customers, Canara Bank offers a range of gold loan schemes. These loans are provided to eligible individuals to help manage unforeseen expenses, medical costs, investments, and other personal or household needs.
1. Canara Bank Swarna Loan
Feature | Details |
|---|---|
Quantum of Loan | Up to 65% of the appraised value of the gold |
Loan Amount | Rs. 5,000 to Rs. 35 Lakhs |
Security | Gold ornaments, jewellery, or specially minted gold coins sold by the bank (up to 50 grams) |
Repayment | Within 12 months through the bullet repayment method |
Benefits
- Financial support for unexpected expenses and genuine personal needs (non-speculative use).
- Competitive interest rates that reduce overall borrowing cost.
- Freedom to repay early without any prepayment or foreclosure charges.
- Low and transparent processing fees with no hidden costs.
- Fast approval process with quick loan disbursal.
2. Canara Bank Swarna Express
Feature | Details |
|---|---|
Quantum of Loan | 70% of the value of gold |
Maximum Amount | Rs. 5,000 to Rs. 35 Lakhs |
Security | Gold ornaments, jewellery, or specially minted gold coins of up to 50 grams |
Repayment | To be repaid within 6 months from the loan sanction date |
Benefits
- Loan taken to meet the unforeseen contingencies.
- Lower rate of interest
- No prepayment charges
- Minimal processing fees
- Quick processing and disbursement
3. Canara Bank Swarna Overdraft
Feature | Details |
|---|---|
Quantum of Loan | 75% of the appraised value of the gold |
Maximum Amount | Rs. 5,000 to Rs. 35 Lakhs |
Security | Gold ornaments, jewellery, or specially minted gold coins of up to 50 grams |
Repayment | Revolving credit facility available for 24 months |
Interest Servicing | Interest to be serviced at monthly intervals as and when due |
Benefits
- Designed to cover sudden financial needs for legitimate, non-speculative purposes.
- Attractive interest rates to keep borrowing costs affordable.
- No charges for early repayment or loan foreclosure.
- Nominal processing fees with clear and simple pricing.
- Flexibility to make multiple withdrawals within the approved credit limit.
- Faster approval cycle with prompt disbursement of funds.
4. Canara Bank Swarna Monthly Interest Loan
Parameter | Details |
|---|---|
Facility Type | Single-limit loan facility |
Eligible Loan Amount | Up to 75% of the assessed gold value |
Loan Range | Minimum ₹5,000 to maximum ₹35 lakh |
Overall Borrower Cap | Capped at ₹35 lakh across Swarna Loan, Swarna OD, Swarna Express, and Swarna Monthly Interest schemes |
Collateral | Pledge of gold jewellery, ornaments, and bank-sold gold coins (up to 50 grams per customer) |
Interest Payment | Interest payable on a monthly basis |
Repayment Tenure | Principal repayable within 12 months or as a lump sum on maturity |
5. Overdraft for Allied Activities (Gold Jewellery)
Parameter | Details |
|---|---|
Nature of Facility | Single transaction limit or overdraft facility |
Loan Quantum | Up to 85% of the appraised gold value, subject to lending rate per gram or project cost (whichever is lower). Loan amount ranges from Rs. 2 lakh to Rs. 35 lakh, capped at Rs. 35 lakh per borrower for agricultural gold loan facilities. |
Security | Pledge of gold ornaments, jewellery, or bank-sold specially minted gold coins (up to 50 grams per customer) |
Repayment | Revolving facility available for up to 36 months with annual review; interest payable monthly |
6. Overdraft Facility Against Gold Jewellery for Crop Cultivation
Parameter | Details |
|---|---|
Facility Type | Overdraft-based gold loan |
Eligible Amount | Up to 85% of the appraised gold value, limited to the lower of the per-gram lending rate or the approved scale of finance |
Loan Range | ₹2 lakh to ₹10 lakh |
Borrower Limit | Maximum ₹10 lakh per borrower under agricultural gold loan schemes |
Security | Pledge of gold jewellery, ornaments, and bank-sold gold coins (up to 50 grams) |
Tenure | Revolving facility for up to 36 months, subject to annual review |
Interest Structure | Simple interest with half-yearly rest |
7. Loans against Gold Jewellery for Land Development Activities
Parameter | Details |
|---|---|
Nature of Facility | Single transaction limit |
Loan Quantum | Up to 80% of the appraised gold value, calculated on the lower of invoice value or per-gram lending rate |
Minimum Loan Amount | ₹100 |
Maximum Loan Amount | ₹35 lakh |
Borrower Ceiling | Overall cap of ₹35 lakh under agricultural gold loan schemes |
Security | Pledge of gold jewellery, ornaments, and bank-issued gold coins (up to 50 grams per customer) |
Repayment Tenure | Up to 12 months from the date of sanction |
Repayment Options | Monthly, quarterly, half-yearly instalments, or lump-sum repayment |
How to Apply for Canara Bank Gold Loan?
Applying for a gold loan is a simple in-branch process. Follow these steps to apply smoothly:
Step 1: Visit your nearest Canara Bank branch.
Step 2: Request the gold loan application form from a bank representative.
Step 3: Fill in the application form and attach the required documents.
Step 4: Submit the completed form along with the gold jewellery or ornaments to be pledged as collateral.
Step 5: The pledged gold will be evaluated by an authorised appraiser, and your documents will be verified.
Step 6: After successful verification and approval, the loan amount will be credited to your bank account.
Benefits of Taking Gold Loan from Canara Bank
Canara Bank Gold Loan is the most convenient and reliable method to address your financial contingencies. Moreover, the bank provides you a hassle-free experience with minimal documentation and transparent process and procedures.
- Convenient & Reliable: Customers can avail an instant gold loan, making it ideal for urgent financial needs.
- High Loan Amount: Borrowers can get loans up to ₹35 lakh, based on the appraised value of gold jewellery or eligible gold coins.
- Competitive Interest Rates: Interest rates are among the most competitive in the market, starting from 8.95% per annum.
- Multiple Gold Loan Schemes: Gold loans are available under different schemes such as Swarna Loan, Swarna Express, and Swarna Overdraft, catering to varied customer requirements.
- Safe & Secure Storage: Pledged gold is stored securely in sealed packets and kept in bank vaults, ensuring complete safety and transparency.
- Quick Processing & Disbursal: Loan amounts are typically credited to the borrower’s account shortly after approval.
- Minimal Charges: The processing fees that comes with the Canara Bank Gold Loan is minimal.
What types of gold can be used to secure a gold loan?
You can pledge any type of gold such as gold jewelleries and ornaments. Initially, the purity of the gold is checked by the lender and based on which the loan amount is approved. If customer pledges 15 grams of jewellery out of which only 5 grams are gold and the rest is the component of other metals, the loan amount is decided based on the purity of the 5 grams of gold.
Features of Canara Bank Gold Loan
Purpose: Canara Bank gold loan offers a convenient way to the customers to meet all types of personal needs such as wedding, education, business expansion etc.
Minimum Loan Amount: The minimum loan amount starts from INR 10,000.
Maximum Loan Amount: As it is a secured loan, the borrower can get up to INR 10 Lakhs on Canara Bank gold loan.
Gold Loan Tenure: The repayment period on Canara Bank gold loan is up to 12 months.
Processing Charges: The borrower must pay 1% of the loan amount as processing fee on Canara Bank gold loan.
Interest Rate: The interest rate on Canara Bank gold loan is 13% and however it is subject to change as per the bank’s policies.
Storage: The gold jewels provided to the bank as collateral is stored safely in the bank’s locker and you can get it back after the entire loan repayment.
Gold Loan Amount Per Gram: The gold loan per gram ranges between INR 1755 to 2145 and it subject to change based on the purity of the gold and market prices.
Eligibility Criteria for Canara Bank Gold Loan
- The borrower must have gold in any form such as jewels, ornaments etc.
Documents Required for Canara Bank Gold Loan
The following documents are required while applying for Canara Bank gold loan.
- Application form duly filled by the applicant
- Photographs of the applicant
- Proof of Identity: Voter’s ID card/ Passport/ Driving license/ Aadhaar card provided by UIDAI etc.
- Proof of Address: Voter’s ID card/ Passport/ Driving license/ Aadhaar card provided by UIDAI etc.
Canara Bank Gold Loan Calculator
It is simple and easy to use Canara Bank gold loan calculator which gives the loan amount you will be getting based on the details provided by you.
Visit the official website of the Canara Bank and under Gold loan calculator, you will have to provide the details of tenure, carat of gold and gold weight in grams. The gold loan calculator will compute the information you have provided and produce the loan amount and other details. You can add more than 1 ornaments and check the loan value for your gold.
How to Apply for Canara Bank Gold Loan?
You can walk in to the nearest Canara Bank branch with your gold, apply for the loan and get the loan amount after the verification process within an hour. If you want to get it from the comfort of your home, you can apply online and executives from the bank will visit your house and after valuation, the loan will be processed and disbursed to your account immediately after approval.
You can also apply through CreditMantri to get the best gold loan offers. CreditMantri matches the borrower’s credit and demographic profile to the lender's lending criteria and presents a shortlist of only those lenders willing to lend based the credit profile. You can also get the most recent updated market gold rates and compare cheapest gold loans offered by various lenders.
Gold Loan Process
The following steps are involved in a gold loan process.
Step 1: Purity of the gold is checked based on which the loan amount is decided.
Step 2: The market rate of gold per gram is checked and the rate of previous day is taken into consideration.
Step 3: Loan to Value (LTV) is decided at this stage. The maximum LTV value set by the RBI is 75%.
Step 4: Once you have acknowledged the loan amount and terms, the lender processes the application. The processing fees and other charges are deducted from the loan amount.
Step 5: After signing the final agreement, the gold loan amount is disbursed to your account.
How to Pay Your Canara Bank Gold Loan EMI?
Your Canara Bank gold loan can be repaid in following three ways.
Standing Instruction (SI): If you are an existing account holder with Canara Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Canara Bank account you specify.
Electronic Clearing Service (ECS): This mode can be used if you have a non-Canara Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.
Post-Dated Cheques (PDCs): You can submit post-dated EMI cheques from a non-Canara Bank account at your nearest Canara Bank Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.
It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.
Canara Bank Gold Loan FAQs
1.What is the tenure of Canara Bank loan on gold?
The tenure of Canara Bank gold loan is up to 12 months.
2.What happens if the loan amount is not repaid on due date?
If the loan amount is not repaid on or before the due date, a penal interest will be charged. In case there are continuous defaults, the lender will secure the loan amount by auctioning the gold.
3. Is the pledged gold safe with Canara Bank?
The bank safely stores your gold in the locker well-maintained and you do not have to worry about the safety.
4. How long does it take to get Canara Bank gold loan?
You can get the loan against gold jewellery within an hour with proper documents.
5. What is the quality range accepted by Canara Bank for jewellery loan?
Only gold of 18 karat and above are accepted by the bank.
6. Do I require a guarantor to get Canara Bank gold loan?
No, you do not require a guarantor to obtain Canara Bank gold loan.
About Canara Bank
Canara Bank Private Ltd was founded in 1993 as UTI Bank in Mumbai. It is the third largest private sector bank in India, providing a wide range of financial services to its customers, covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The bank has 3300 branches and around 14,000 ATMs and nine international offices.
Applying through CreditMantri
You can also apply through CreditMantri to get the best gold loan offers. CreditMantri matches the borrower’s credit and demographic profile to the lender's lending criteria and presents a shortlist of only those lenders willing to lend based the credit profile. You can also get the most recent updated market gold rates and compare cheapest gold loans offered by various lenders.
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