Do Gold Loan Interest Rates Secure My Asset & Loan?
Canara Bank provides gold loans for customers to help them find the right price and security for their gold ornament or item. And you will be satisfied with Canara Bank gold loan interest rates, as they remain fixed during the tenure. The bank provides loans to those customers who have maintained their savings bank account in Canara Bank or new to the bank services. Every creditworthy applicant can apply for the gold loan. The loan amount ranges from INR 10,000 to INR 20 lakh. Your loan is decided on the gold value and income, if you have a repayment capacity to pay the borrowed amount, then you can borrow the desired amount. There are various features of gold loans that help the customers to meet their financial needs in a crisis.
You can use the following items to get a gold loan from Canara Bank.
- Bank gold minted coins
- Gold Necklace
- Gold Jewelry items
- Gold Chain
Benefits associated with the gold loan interest rate!
Canara Bank interest rate for Swarna Loan ranges from 9.10%-9.20%. And the gold loan interest rates are based on the repo linked lending rate of Canara Bank that is 7.30%. You have a repayment period of 12 months to pay the loan and interest rate. The borrower doesn't need to pay the loan in equated monthly installments, you can pay the principal amount and interest rate before the tenure also without any prepayment or foreclosure fee. Once you pay the loan, you can release your old ornament from the bank.
How to apply for Swarna Loan?
To get the desired amount, you need to visit your nearest Canara Bank and fill up a loan application form. The borrower is also needed to mention the gold details such as weight in grams or Karat. Canara Bank approved the loan quickly and disburses the loan amount within a few minutes. In the bank, the representative will weigh your gold item and sanction the loan as per the gold valuation price. Gold is an item that one can find in every single house, and this liquid cash is helpful in times of crisis. And to get its best value, you can visit the Canara Bank and borrow a loan.
You need to submit a few documents to apply for the loan like Aadhar card, PAN card, bank statement, etc. The bank also requires 1% of the loan to process it further to sanction it. You don't need to go through a long processing period to get your loan sanction. Canara Bank provides you the loan amount quickly so that you can meet your financial needs without any trouble.
Now with attractive gold loan interest rates, apply for a Canara Bank Swarna loan to meet your financial emergencies related to medical, education, debt burden, etc. in just a few taps. The existing customer can log in to their account, and can apply for the loan online by following the same procedure.
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