2,80,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 500* on Gold Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Canara Bank Gold Loan Eligibility Calculator

Canara Bank Gold Loan Per Gram

Last Updated 12th Aug 2021
Eligibility Criteria Canara Bank Gold Loan Eligibility
Gold Loan per gram ₹ 2,546 to ₹ 3,111 depending on the purity of gold
Maximum Loan Amount ₹ 20 Lakh
  • Canara Bank calculates the amount of gold loan you are eligible for based on the amount of gold you have, value and purity of the gold.
  • Canara Bank offers a maximum LTV of up to 75% of gold’s market value.
Apply for Gold Loan @ 9.50%* Get upto ₹ 500* Cashback

Canara Bank Gold Loan Per Gram Eligibility

Canara Bank gold loan per gram gives you an estimate of the loan amount you can get against your gold jewellery. You will get the loan based on the purity and gold price of your jewellery adjusted for loan to value ratio. Canara Bank gold loan per gram eligibility depends upon purity of the gold, your age and gold quantity.

As per the latest gold prices, Canara Bank offers a gold loan per gram of ₹ 2,546 to ₹ 3,111. Highest Canara Bank gold loan rate per gram today is ₹ 3,111 for 22 carat jewellery calculated at a maximum LTV of 75% and the average gold loan prices of last 30 days in 2021 is ₹ 4,609 of 22 carat.

Gold Loan Calculator Canara Bank

  • Purity and net weight of gold used in jewellery: Canara Bank uses their in-house valuer to assess the purity and net weight of gold in your jewellery. Gold used in the jewellery should be of a purity of 18 to 24 carats. Canara Bank can also reduce the weight of gems and stones from the jewellery to calculate the net weight of jewellery.
  • Price of gold: Once the valuer estimates the purity and net weight of gold in your jewellery, Canara Bank will multiply it with past 30 days average price of 22 carat gold to calculate the value of gold. So, if the gold is of 20 carat purity, Canara Bank will apply the 30 days average of 22 carat gold multiplied by a factor of 20/22 to adjust the value of gold.You can also check today's gold rate in your city at MyLoanCare.
  • Loan to Value Ratio: Once the value of jewellery is calculated, Canara Bank will apply a LTV of up to 75% to calculate your jewel loan amount eligibility. If you are willing to take a loan amount lower than your maximum LTV, Canara Bank may offer you a lower interest rate.

Canara Bank Gold Loan Eligibility

  • Anyone who is above 18 years and below 70 years.
  • An applicant should be an Indian resident.
  • Must have gold jewellery of 18 carat to 22 carat.

How to check Canara Bank gold loan eligibility?

To check Canara Bank gold loan eligibility you can fill the gold loan eligibility calcualtor form with all details at MyLoanCare. Apart, To check Canara Bank gold loan eligibility on Canara Bank website perform the following steps:-

  • Go to the Canara Bank website.
  • Now go to Canara Bank gold loan.
  • Use gold loan eligibility calculator to check eligibility.
  • Fill the required details like loan amount required, weight of gold, age etc.

Also you can contact the bank by calling on their customer care number.

Canara Bank Gold Loan Rate Per Gram by Gold Purity

Canara Bank gold loan eligibility is dependent on the purity of gold jewellery that you have. The following table gives an approximate estimate of gold loan per gram Canara Bank will offer against gold jewellery of different purity levels at a maximum LTV of 75% and lower LTV of 65%.

Gold Purity Gold rate per gram- average of past 30 days Canara Bank best Gold Loan per gram Canara Bank lowest Gold Loan per gram
22 carat₹ 46,091₹ 3,111₹ 2,696
20 carat₹ 41,901₹ 3,111₹ 2,451
18 carat₹ 37,711₹ 2,546₹ 2,206

The above table shows the method by which Canara Bank will calculate your per gram gold loan for gold of varying purity.

  • Gold loan per gram in Canara Bank offer for 22 carat jewellery will be between ₹ 2,696 to ₹ 3,111
  • Canara Bank gold loan per gram offer for 20 carat jewellery will be between ₹ 2,451 to ₹ 3,111
  • Gold loan per gram rate of Canara Bank for 18 carat jewellery will be between ₹ 2,206 to ₹ 2,546

Tips to Get Best Gold Loan Amount Per Gram from Canara Bank

  • Canara Bank accepts both hallmarked and non-hallmarked jewellery for getting a gold loan. However, you can get highest gold loan per gram for hallmark jewelry. Also, some banks charge a lower processing fees on hallmarked gold jewellery.
  • Canara Bank adjusts the price of 22 carat gold for purity of gold. Hence, always try to borrow against higher purity jewellery as it will fetch you the highest amount for gold loan.
  • Always, try to choose jewellery which has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from total weight of jewellery. Canara Bank will rely on the report of his gold valuer to calculate the net weight.
  • Canara Bank will not accept diamond jewellery if the gold used is of less than 18 carat purity. Most of the diamond jewellery is made in 16 carat to 18 carat gold and hence, will result in very low gold loan per gram.
  • Always try to get the maximum LTV on the value of gold. Canara Bank is allowed by RBI to charge a maximum LTV of up to 75% to calculate the amount of gold loan you are eligible for.

How can I get a gold loan from Canara Bank?

You can get a gold loan from Canara Bank either online or offline, depending upon your convienence. For the online process, you can visit the official website of Canara Bank and apply for a gold loan. In addition to that, you can give a missed call to Canara Bank at their customer care number 1800-425-0018. For the offline process, you can visit the nearest Canara Bank branch and fill up the Canara Bank gold loan application form, You can also apply for a Canara Bank gold loan at online marketplaces like MyLoanCare, where you can compare Canara Bank gold loan offer with other top lenders and choose the best option for you.

FAQs

What is the eligibility for Canara Bank gold loan?

To avail a Canara Bank gold loan you must be a citizen of India between 0 years to 0 years of age. He/should also have a gold jewellery which has purity above 18 carat. Canara Bank gold loans are easy to avail as you can avail these loans, even without a good cibil score.

What is the maximum loan amount that I can avail on gold loan from Canara Bank?

The maximum loan that you can avail from Canara Bank is 75% of the market value of the gold depending on the quality of the gold.However, ensure that the gold fits the purity mark of minimum 18 carats of gold and is hallmarked. Before availing a gold loan from Canara Bank ensure checking the current gold rate per gram, to get a good sum on your gold.

What is the loan tenure of Canara Bank gold loan?

Canara Bank gives gold loan to the applicants for a maximum tenure of 6 months to 12 months. So, the borrower should be sure about the repayment capacity of the loan. To plan your gold loan prepayments within this tenure, you can use Canara Bank gold loan emi calculator.

What kind of gold items are accepted and rejected as a security?

Gold ornaments with carats in the range of 18 to 24 and weight of more than 50 grams are accepted by Canara Bank. Canara Bank does not allow customer to borrow against gold bars, exchange traded funds and ladies mangal sutra.

Do I need a co-applicant to get a gold loan from Canara Bank ?

No, you do not need a co-applicant to get a gold loan from Canara Bank . To get a gold loan you only need to have gold jewellery and a stable source of income. Value of your gold, purity marks and your age, are key requirements to avail a gold loan from Canara Bank . Thus, you can get a gold loan easily without a co-applicant, when you own the gold.

How much processing fee is applicable in Canara Bank gold loan?

Canara Bank charges a processing fee of 0.5 of the loan amount, Min ₹ 1,000 and Max ₹ 5,000 on gold loan.Processing fee on Canara Bank gold loan can vary from customer to customer depending upon the gold loan eligibility. In addition to that, you can also negotiate the Canara Bank gold loan processing fee, if you are an existing customer of Canara Bank.


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.90%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 7.35% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 9.95%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Canara Bank Gold Loan News - Jul 2021
  • 2021-07-15 : Syndicate Bank merged with Canara Bank - IFSC and SWIFT code changed
    After the merger of Syndicate and Canara Bank, the IFSC codes for erstwhile Syndicate Bank customers will be changed from July 1 this year. Existing Syndicate Bank customers will have to use their new IFSC codes for online transactions through NEFT, RTGS or IMPS routes.
  • 2021-02-26 : Canara Bank organized Mega Retail Expo in Mumbai
    Canara bank organized a mega retail expo camp at Gala Auditorium, Patuck Campus in Santacruz (East). The retailers present at the expo displayed salient features of their products which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan. A total loan amount of Rs. 224.30 Crores were sanctioned through the expo.
  • 2020-05-20 : Canara Bank launched a gold loan scheme
    Canara Bank has unveiled a special gold loan scheme for diverse sectors with a lower interest rate of 7.85%. The loan can be availed for agriculture, agri-allied sectors, medical and personal emergencies and overdraft facilities against gold. The scheme is on offer till June 30. The gold loan scheme is introduced to assist the borrower amid the COVID 19 and subsequent lockdown.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...