Compare Canara Bank vs Manappuram Gold Loan
| Bank | ||
|---|---|---|
| Interest Rate | Interest Rate 7.65% - 7.65% |
7.00% - 29.00% |
| Processing Fees | Processing Fees 0.5 of the loan amount, Min ₹ 1,000 and Max ₹ 5,000 |
₹ 10 (to be paid at time of settlement) |
| Loan Amount | Loan Amount ₹ 5,000 to ₹ 20 Lakh |
₹ 1,000 to ₹ 10 Lakh |
| Loan Tenure | Loan Tenure 6 months to 12 months |
1 day to 6 Months |
| Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 8,683 |
₹ 17,009 |
| Foreclosure Charges | Foreclosure Charges 2%+GST (Within 3 Months), 0 (After 3 months) |
Nil |
| EMI Scheme | EMI Scheme N |
N |
| Bullet Repayment Scheme | Bullet Repayment Scheme Y |
Y |
| Overdraft Scheme | Overdraft Scheme N |
N |
| Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
4.3/5.0 |
Compare Gold Loan EMI of Canara Bank and Manappuram
| Loan Amount | Canara Bank | Manappuram |
|---|---|---|
| ₹ 50,000 | ₹ 4,341 | ₹ 4,326 |
| ₹ 1 Lakh | ₹ 8,683 | ₹ 8,653 |
| ₹ 5 Lakh | ₹ 43,413 | ₹ 43,263 |
| ₹ 10 Lakh | ₹ 86,827 | ₹ 86,527 |
Which bank offers a lower interest rate on Gold Loan – Manappuram or Canara Bank?
As per the current rates, Manappuram offers a lower interest rate of 7.00% on Gold Loan when compared to Canara Bank which offers a Gold Loan at 7.65%.
How does Manappuram Gold Loan compare with Canara Bank Gold Loan?
Gold Loan or Jewel Loan is an easy loan to get instant credit without the need to have a good credit score and income documents. Anyone is eligible to get the gold loan, provided the person has 18-22 carat gold jewelry to offer as collateral. Hence, while comparing Manappuram and Canara Bank for gold loan and choosing the best bank, it is important to compare three factors which are their rate of interest, gold loan per gram eligibility as well as repayment options such as EMI, Bullet and Overdraft.
You must select the bank of your choice after evaluating the advantages and disadvantages of Canara Bank and Manappuram.
What are the best repayment options available on Gold Loan – Manappuram or Canara Bank?
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Compare Canara Bank Gold Loan With Other Banks
Compare Manappuram Gold Loan With Other Banks
- 2022-05-13 : PNB Revises Gold Loan Rates
Punjab National Bank has increased the rates on gold loans, and as a result, the bank offers the lowest rates starting at 7.55%. Earlier, the rate was 7.25%. - 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year. - 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21. - 2022-05-10 : Federal Bank Changes Interest Rates on Gold Loans
Federal Bank has increased the gold loan interest rates, and thus you can now avail of loans starting at 7.39% - 2022-05-10 : Canara Bank Hikes Gold Loan Interest Rates
The bank has increased the lowest gold loan rates by 40 basis points from 7.25% to 7.65%.
