{"id":3724,"date":"2018-05-08T07:21:57","date_gmt":"2018-05-08T01:51:57","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=3724"},"modified":"2019-09-25T12:15:54","modified_gmt":"2019-09-25T06:45:54","slug":"canara-bank-gold-loan","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/canara-bank-gold-loan\/","title":{"rendered":"Canara Bank Gold Loan"},"content":{"rendered":"<p><strong>Canara Bank offers a Gold Loan (Swarna Loan) scheme<\/strong>\u00a0which can be availed by keeping gold as security, primarily designed to meet any financial emergencies. Gold is returned on repayment of a loan, making it a temporary contingency plan during financial hardships.<\/p>\n<h2>Features of Canara Bank Gold Loan (Swarna Loan)<\/h2>\n<p>Some of the unique features of Swarna Loan are highlighted below.<\/p>\n<ul>\n<li><strong>Immediate assistance<\/strong>\u00a0\u2013 Canara Bank has minimised the paperwork for this loan, making it hassle free and easy to avail.<\/li>\n<li><strong>Competitive interest rates<\/strong>\u00a0\u2013 Swarna Loan comes at competitive interest rates, making a loan financially tenable.<\/li>\n<li><strong>Multipurpose<\/strong>\u00a0\u2013 This loan can be used to meet any genuine financial emergency, subject to certain conditions.<\/li>\n<li><strong>High loan amount<\/strong>\u00a0\u2013 Loan amounts ranging between Rs 10,000 and Rs 10 lakh can be availed under this scheme.<\/li>\n<li><strong>Low processing fee<\/strong>\u00a0\u2013 A low processing fee is charged by Canara Bank for this loan.<\/li>\n<li><strong>Flexible repayment<\/strong>\u00a0\u2013 Borrowers can repay the loan within a period of 1 year, with the interest payable only on maturity.<\/li>\n<li><strong>Guarantee\u00a0<\/strong>\u2013 This loan doesn\u2019t require a guarantor, easing application hassles.<\/li>\n<\/ul>\n<h2>Canara Bank Gold Loan (Swarna Loan) Interest Rates<\/h2>\n<div class=\"pull-right top-pad btm-pad tax-img-responsive\"><\/div>\n<p>Interest rates charged by\u00a0<em>Canara Bank on its Gold Loan (Swarna Loan)<\/em>\u00a0are extremely competitive, making them an attractive option compared to other loan providers. The Base Rate determines the final rate charged, with it currently being 9.65% per annum. Borrowers under the Swarna Loan scheme need to pay an <a href=\"https:\/\/www.antworksmoney.com\/blog\/gold-loan-interest-rates\/\">interest<\/a> of\u00a0<strong>12.75% per annum<\/strong>\u00a0(Base Rate + 3.10%) on their loan.<\/p>\n<h2>Eligibility criteria to avail Canara Bank Swarna Loan<\/h2>\n<p>Individuals who wish to avail the\u00a0<u>Swarna Loan from Canara Bank<\/u>\u00a0need to satisfy a few basic criteria.<\/p>\n<ul>\n<li><strong>Income\u00a0<\/strong>\u2013 Applicants should be salaried\/self-employed with a sufficient source of income.<\/li>\n<li><strong>Accountholder\u00a0<\/strong>\u2013 Applicants should have existing Savings Bank accounts with Canara Bank. Individuals without an account need to be introduced by trusted customers.<\/li>\n<\/ul>\n<h2>Documents required for Canara Bank Gold Loan (Swarna Loan)<\/h2>\n<p>Canara Bank has adopted a minimalist approach when it comes to documentation, with applicants expected to furnish a few basic documents.<\/p>\n<ul>\n<li><strong>ID\/Address proof<\/strong>\u00a0\u2013 Valid government approved ID\/address proof (Passport, PAN card, DL, etc.)<\/li>\n<li><strong>Application form<\/strong>\u00a0\u2013 Duly filled and signed application form<\/li>\n<li><strong>Income proof<\/strong>\u00a0\u2013 Form 16 or Salary certificate from employer<\/li>\n<li><strong>Gold certificate<\/strong>\u00a0\u2013 Certificate from jeweller appraising quality of gold. This appraisal will be arranged by the bank.<\/li>\n<\/ul>\n<h2>Fees and charges associated with Canara Bank Swarna Loan<\/h2>\n<table class=\"table table-curved\">\n<tbody>\n<tr>\n<td><strong>Type of fee<\/strong><\/td>\n<td><strong>Amount<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Processing fee<\/td>\n<td>1% of loan amount, subject to:<\/p>\n<p>Minimum \u2013 Rs 1,000<\/p>\n<p>Maximum \u2013 Rs 5,000<\/td>\n<\/tr>\n<tr>\n<td>Appraisal fee<\/td>\n<td>Ranges from case to case<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Canara Bank offers a Gold Loan (Swarna Loan) scheme\u00a0which can be availed by keeping gold as security, primarily designed to meet any financial emergencies. Gold is returned on repayment of a loan, making it a temporary contingency plan during financial hardships. Features of Canara Bank Gold Loan (Swarna Loan) Some of the unique features of &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/canara-bank-gold-loan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Canara Bank Gold Loan&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3724","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Canara Bank Gold Loan - Antworks Money<\/title>\r\n<meta name=\"description\" content=\"Canara Bank offers a Gold Loan (Swarna Loan) scheme\u00a0which can be availed by keeping gold as security, primarily designed...\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/canara-bank-gold-loan\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Canara Bank Gold Loan - 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