Multiple banks. Different interest rates. Call it a "conflict of interest".
    • loading

    We found 1 Canara Bank Gold Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.7% - 13.7% Floating
    1,000 to ₹5,000 One time fee
    3L
    5 years
    Enquire
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Eligibility Criteria

    Canara Bank Gold Loan is Rated as "Great!" by 61 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN
    Write Review
    Icon for Personal Loan Eligibility
    Click here to
    Check your Eligibility!

    Overview about Canara Bank Gold Loan (Swarna Loan)

    Gold is a key element in the financial portfolio of most Indians, with an estimated 20,000 tonnes of gold owned by residents of the country. A primary reason for investing in gold is the liquidity it offers, which enables owners to sell it immediately or avail loans against it. Canara Bank offers a Gold Loan (Swarna Loan) scheme which 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.

    Perfect Personal Loan Deals for you

    Features of Canara Bank Gold Loan (Swarna Loan)

    Some of the unique features of Swarna Loan are highlighted below.

    • Immediate assistance – Canara Bank has minimised the paperwork for this loan, making it hassle free and easy to avail.
    • Competitive interest rates – Swarna Loan comes at competitive interest rates, making a loan financially tenable.
    • Multipurpose – This loan can be used to meet any genuine financial emergency, subject to certain conditions.
    • High loan amount – Loan amounts ranging between Rs 10,000 and Rs 10 lakh can be availed under this scheme.
    • Low processing fee – A low processing fee is charged by Canara Bank for this loan.
    • Flexible repayment – Borrowers can repay the loan within a period of 1 year, with the interest payable only on maturity.
    • Guarantee – This loan doesn’t require a guarantor, easing application hassles.

    Canara Bank Gold Loan (Swarna Loan) Interest Rates

    Interest rates charged by Canara Bank on its Gold Loan (Swarna Loan) are 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 interest of 12.75% per annum (Base Rate + 3.10%) on their loan.

    Note: Interest rates mentioned above are as of May 2016, with rates subject to change without any prior notice or intimation. Applicants should check the current rates with the bank before applying for a loan.

    Eligibility criteria to avail Canara Bank Swarna Loan

    Individuals who wish to avail the Swarna Loan from Canara Bank need to satisfy a few basic criteria.

    • Income – Applicants should be salaried/self-employed with a sufficient source of income.
    • Accountholder – Applicants should have existing Savings Bank accounts with Canara Bank. Individuals without an account need to be introduced by trusted customers.

    Documents required for Canara Bank Gold Loan (Swarna Loan)

    Canara Bank has adopted a minimalist approach when it comes to documentation, with applicants expected to furnish a few basic documents.

    • ID/Address proof – Valid government approved ID/address proof (Passport, PAN card, DL, etc.)
    • Application form – Duly filled and signed application form
    • Income proof – Form 16 or Salary certificate from employer
    • Gold certificate – Certificate from jeweller appraising quality of gold. This appraisal will be arranged by the bank.

    Fees and charges associated with Canara Bank Swarna Loan

    Type of fee Amount
    Processing fee

    1% of loan amount, subject to:

    Minimum – Rs 1,000

    Maximum – Rs 5,000
    Appraisal fee Ranges from case to case

    Canara Bank Gold Loan (Swarna Loan) FAQs

    1. What kind of security should one provide to avail this loan?

      This loan can be availed by providing security in the form of gold coins or gold ornaments.

    2. Can one avail this loan at all Canara Bank branches?

      No, a Swarna Loan can be availed only at certain specific branches of the bank.

    3. Can individuals without a SB account with Canara Bank avail this loan?

      No, individuals who do not have a SB account with Canara Bank can apply for this loan after opening an account.

    4. What is the repayment tenure for this loan?

      The entire loan amount should be repaid within a period of 1 year. A bullet payment program is utilised here, wherein the interest needs to be paid along with the principal at the end of 1 year.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Financial Tools
    Most Popular Pages
    Resources
     
    Loading your search... Loading your search...

    • Canara Bank Gold Loan Reviews

    Write a Review
    • Canara Bank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from Canara bank. Our company has a tieup with this bank and the process for this loan was completed on time. The documentation was not much and it was the normal procedure, the rate of interest was 12% and charges were pretty nominal. I am happy that I got the loan when I needed it.
      Was this review helpful? 1

      Thank you for your vote

      Thanks, you've already rated this review

      , mohali
      Reviewed on Jun 15, 2017
    • Canara Bank Personal Loan
      "Good Process"
      0.5 3.0/5 "Satisfactory"
      Three years ago, I had taken the personal loan from Canara bank. The loan amount was 4 lakhs with the rate of 13.15% for the tenure of 4 years. I did not submit more documents just provided KYC documents. They disbursed the loan on time and the entire process went good without any hassles. I had cleared the loan within two years of time.
      Was this review helpful? 0

      Thank you for your vote

      Thanks, you've already rated this review

      , bangalore
      Reviewed on Jun 15, 2017
    • Canara Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I am having the personal loan with the Canara bank and the interest rate is around 12.25%. The loan amount got disbursed to my account within two days of time. Response is good one with them and the customer service is also working in a good way.
      Was this review helpful? 0

      Thank you for your vote

      Thanks, you've already rated this review

      , devanahalli
      Reviewed on Jun 10, 2017
    • Canara Bank Personal Loan
      "Satisfied"
      0.5 3.0/5 "Satisfactory"
      I had closed the personal loan with the Canara bank and the rate of interest was around 11% for the capital of 5 lakh Rupees and 3 lakh Rupees twice. Loan amount got credited within a week of time, also they had made some delay. They are very much legal and they are not flexible to their customer.
      Was this review helpful? 1

      Thank you for your vote

      Thanks, you've already rated this review

      , bangalore
      Reviewed on Jun 02, 2017
    • Canara Bank Personal Loan
      "Best Offer"
      0.5 4.5/5 "Excellent!"
      When I was in a need of 4 lakhs, I had applied for the personal loan with HDFC bank but the bank is willing to provide 3.6 lakhs with 11.4% as the interest rate. But canara bank offered 4.5 lakhs with 10.8% of interest rate, so I had taken the loan from Canara bank. Also the customer service is also equally good.
      Was this review helpful? 1

      Thank you for your vote

      Thanks, you've already rated this review

      , hyderabad
      Reviewed on May 30, 2017
    • Canara Bank Personal Loan
      "Satisfactory Service"
      0.5 5.0/5 "Blown Away!"
      I got personal loan from Canara bank as preapproved loan. They sanctioned the loan amount into my account within fifteen days. I did not submit any documents to the bank as I got support from my office end, I easily availed the loan from the bank. The interest rate 16% for 3 years and the loan amount is 75000.
      Was this review helpful? 1

      Thank you for your vote

      Thanks, you've already rated this review

      , chennai
      Reviewed on May 04, 2017
    • Canara Bank Personal Loan
      "Better"
      0.5 3.0/5 "Satisfactory"
      I have closed the personal loan with the Canara bank and the tenure was around thirty months of time. Foreclosure charges were nil with them and I got it through my reference of employer. Rate of interest was little high but am happy with them and the loan amount got disbursed to my account within a week of time.
      Was this review helpful? 0

      Thank you for your vote

      Thanks, you've already rated this review

      , chennai
      Reviewed on Apr 25, 2017
    • Canara Bank Personal Loan
      "Easy process"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Canara bank. The process for my loan was done on time. The documentation was not much and it was the normal procedure, the rate of interest and charges was pretty nominal. I am happy that I got the loan when needed.
      Was this review helpful? 2

      Thank you for your vote

      Thanks, you've already rated this review

      , hyderabad
      Reviewed on Dec 15, 2016
    • Canara Bank Personal Loan
      "Should Helpout to the customer's need"
      0.5 3.0/5 "Satisfactory"
      Canara Bank service was almost good, When I opened my saving account with them. I paid Rs.1000 including debit card. Online service and ATM facilities was good. But they have to understand the customer's needs for any kind of loans and should work on customer orientation.
      Was this review helpful? 6

      Thank you for your vote

      Thanks, you've already rated this review

      , bangalore
      Reviewed on Nov 18, 2016
    • Canara Bank Personal Loan
      "Canara Bank service is Good"
      0.5 4.0/5 "Great!"
      Canara bank personal loan was good, I had taken for 36 months of tenure. I had almost re- paid 30 months and remaining is 6 months . I am okay with the service provided by them. Within the stipulated time they had processed the loan. Before three years I had taken the loan even at that time interest rate was pretty normal.
      Was this review helpful? 2

      Thank you for your vote

      Thanks, you've already rated this review

      , chennai
      Reviewed on Oct 21, 2016
    • Canara Bank Personal Loan
      "Easy process"
      0.5 5.0/5 "Blown Away!"
      The sequence of steps which is followed by CANARA Bank on its personal loan its pretty simple. The documents were minimal and it was a hassle free process. The rate of interest was of 17.25% for the tenure of five years. The processing charges was nominal too.
      Was this review helpful? 7

      Thank you for your vote

      Thanks, you've already rated this review

      , bangalore
      Reviewed on Jun 28, 2016
    • Canara Bank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Within week the personal loan was disbursed by Canara bank as I have the account so the process was very easy and smooth. Rate of interest charged was nearly 15% and the processing fee was Rs.2000. Required paper were standard like other banks only.
      Was this review helpful? 14

      Thank you for your vote

      Thanks, you've already rated this review

      , bangalore
      Reviewed on Jun 25, 2016
    • Canara Bank Personal Loan
      "Good service provider"
      0.5 3.0/5 "Satisfactory"
      I am having personal loan with the Canara bank and the interest rate is around 15%. Processing charges were a nominal one with them and the loan amount got disbursed to my account within a week of time. Response was good one with the Canara bank.
      Was this review helpful? 0

      Thank you for your vote

      Thanks, you've already rated this review

      , pune
      Reviewed on Jun 13, 2016
    • Canara Bank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Canara Bank. The services has been very good from them. They offered me a very reasonable rate of interest. It was of 12.2%. The processing charges was waived off. There was no charges for the pre closure as well. The process was completed in a week. Overall excellent.
      Was this review helpful? 0

      Thank you for your vote

      Thanks, you've already rated this review

      , jaipur
      Reviewed on May 18, 2016
    • Canara Bank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      Based on my salaried account I got the personal loan very easily in four days from Canara bank. The only down side is, they require the guarantor for loans which is quite difficult.. In terms of interest rate and other charges they are charging less when compared with other banks.
      Was this review helpful? 1

      Thank you for your vote

      Thanks, you've already rated this review

      , ghaziabad
      Reviewed on May 12, 2016
    • Canara Bank Personal Loan
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      This is fairly a new loan which I had taken with Canara bank as I have a long standing relationship with them being an account holder. I know the manager personally and he co ordinated well. They offered me an interest rate of 14% and a nominal processing fee of Rs.1500. The documentation was very minimal and the processing took 15-16 days and the loan were realsed to my account. Bottom line, fanstastic experience.
      Was this review helpful? 0

      Thank you for your vote

      Thanks, you've already rated this review

      , kolkata
      Reviewed on May 11, 2016
    • Canara Bank Personal Loan
      "great process. "
      0.5 5.0/5 "Blown Away!"
      I had an experience of taking a personal loan from Canara bank. The process was pretty okay. I was offered an interest rate of 13%. The disbursement process was very quick as I got the loan within 3 hours of time. But my concern is that the maximum amount the bank offers as loan is 1.5 lakhs only.
      Was this review helpful? 1

      Thank you for your vote

      Thanks, you've already rated this review

      , hosur
      Reviewed on Apr 05, 2016
    • Canara Bank Personal Loan
      "Good process "
      0.5 4.0/5 "Great!"
      The service provided was quite slow but they dont have any fraudulent service in the loan process with canara bank related to personal loan.The interest rate applied for the personal loan was high compared with others through the canara bank.
      Was this review helpful? 0

      Thank you for your vote

      Thanks, you've already rated this review

      , bangalore
      Reviewed on Mar 16, 2016
    • Canara Bank Personal Loan
      "Okay with them..."
      0.5 2.0/5 "Expected more"
      I took personal loan from Canara bank which was last 4 years back. Initially they offered 1lakh but I had a good relationship with their General manager so, he helped me a lot. Finally they offered 1.60lakhs. I have no issues with them. I use to make the payment through ecs mode.
      Was this review helpful? 2

      Thank you for your vote

      Thanks, you've already rated this review

      , nagercoil
      Reviewed on Feb 24, 2016
    • Canara Bank Personal Loan
      "Fine.."
      0.5 1.0/5 "Really Bad"
      Recently I approached Canara bank for a personal loan. But they are not willing to provide a loan but the thing is requested them for a 2lakhs even though they need guarantor. When I compare to Canara bank I am happy with ICICI Bank in terms of personal loan.
      Was this review helpful? 1

      Thank you for your vote

      Thanks, you've already rated this review

      , nagercoil
      Reviewed on Feb 24, 2016
    Read More
    Common Loader Icon
    • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.