Canara Bank provides a gold loan offering with a competitive interest rate of 9% per annum. Borrowers can opt for loan amounts ranging from Rs 5,000 up to Rs 35 lakh, maintaining a loan-to-value (LTV) ratio of up to 70% of the gold's market value. The loan tenure can extend up to two years, and the bank accepts gold ornaments, jewelry, or specially minted gold coins as collateral, limited to 50 grams per customer.

Repayment methods include the bullet repayment or interest payment plan for Canara Bank's Gold Loan.

Key Features of Canara Bank Gold Loan:

• Interest Rate: 9.00% p.a.
• Loan Amount: Rs 5,000 - Rs 35 lakh
• LTV Ratio: Up to 70% of gold’s market value
• Tenure: Up to 2 years
• Collateral/Security: Gold ornaments/jewelry/specially minted gold coins (up to 50 gm per customer)
• Processing Fee: Up to 0.50% of the loan amount (maximum Rs 5,000)

As of 14th June 2024, the interest rates for Canara Bank Gold Loan are:

• Swarna Loan: 9.00% p.a.
• Swarna Overdraft: 9.00% p.a.
• Swarna Express: 9.00% p.a.

Types of Canara Bank Gold Loan:

1. Canara Bank Swarna Loan
   • Purpose: For medical expenses and unforeseen commitments
   • Loan Amount: Rs 5,000 - Rs 35 lakh
   • LTV Ratio: Up to 65% of appraised value
   • Tenure: Up to 1 year
   • Repayment: Bullet repayment method
2. Canara Bank Swarna Express
   • Purpose: To raise funds for medical expenses and unforeseen commitments
   • Loan Amount: Rs 5,000 - Rs 35 lakh
   • LTV Ratio: Up to 70% of appraised value
   • Tenure: Up to 6 months
   • Repayment: Bullet repayment method
3. Canara Bank Swarna Overdraft
   • Purpose: Gold loan overdraft to meet medical expenses and contingencies
   • Loan Amount: Rs 5,000 - Rs 35 lakh
   • LTV Ratio: Up to 70% of appraised value
   • Tenure: Up to 6 months
   • Repayment: Interest payment method
4. Canara MSME Gold Demand Loan
   • Purpose: To assist MSME units with business needs
   • Loan Amount: Rs 50,000 - Rs 35 lakh
   • LTV Ratio: Up to 65% of appraised value
   • Tenure: Up to 1 year
   • Repayment: Interest payment method
5. Canara MSME Gold Overdraft
   • Purpose: Assistance for MSME units' business capital
   • Loan Amount: Rs 50,000 - Rs 35 lakh
   • LTV Ratio: Up to 70% of appraised value
   • Tenure: Up to 1 year
   • Repayment: Interest payment method

Eligibility: Applicants must be resident individuals or NRIs. Other factors include age, profession, gold weight, and purity as security.

Documents Required: Completed application form with photos, address proof (Aadhar card, Voter ID, Driving License), and ID proof (Driving License, Aadhar card, Voter ID card).

Overall, Canara Bank Gold Loan provides attractive interest rates, flexible amounts, and repayment plans. With a straightforward application process and minimal documentation, patrons can meet their urgent financial needs effectively. It’s important to consider the loan tenure and repayment strategies thoroughly to prevent any financial stress. For further details or application, visit Canara Bank's official website or contact the bank.