Gold Loan Application

 Let us know how it works?

Gold loan is one of the simplest kinds of loan that is provided by a government or private bank. In this type of loan, you take your gold positions to the bank and when checked the quantity and the quality of the bank of the gold if the quality and the quantity of the gold fits within the eligible value you can easily get all the benefits of the gold loan. The amount of the money that is to be lent by the lender is totally assigned based on the total value of the gold minus the value of the other metals that are present in the jewelry. The same is the case with the coins if you want to keep your gold coin in the bank against the cash that you want to get from the bank you will get the total value of the gold that is involved in the.

Let us know how to apply for gold?     

As we learned earlier that any person who has gold can avail of a gold loan calculator. The documentation process involved with it is much simpler than what is involved with personal loans. Be it a salaried person, a housewife or a businessman, or even a farmer everyone can benefit from the gold loan. What is the financing cost on which banks give the gold loan? Canara bank offers gold loans at very reasonable interest rates which are extremely manageable by anyone. The interest rates are as low as 7.65% and these are available for existing customers or as well as for new customers. The interest rate following the amount of gold that is being kept by the customer. The processing fee includes 1% of the total amount that is being taken by the customers. The loan tenure is off a period of 12 months. The amount offered by the bank is from 10000 to 10 lakh Indian rupees. Canara Bank gold loan per gram rate can be availed from the nearby branch or from the web site of the bank itself the loan is availed in a very short period of time without any hindrance the loan is completely safe and your gold is kept safe as well in vaults the high security under the supervision of camera which works 24 × 7. 

Eligibility criteria may differ from person to person although when it comes to goat loan eligibility is not a big problem as the gold loan can be availed with a comparative lower CIBIL score as well. Canara bank offers returns of opportunities through their gold loan as the gold loan can be taken for a variety of reasons whether it is for your education for your health or even your wedding. Documents Requirement, documentation system in Canara Bank is smooth as compared to other banks, only basic KYC documents for address proof and income proof required. However, Canara bank doesn’t require you to submit your income proof every time as the loan is being offered to nonsalaried personal as well although if you are into a job you need to check your CIBIL score for your gold loan to be approved smoothly.

Popular Gold Loan Schemes of Canara Bank. Canara Bank also provides a gold loan EMI calculator in which you can calculate the monthly repayment amount according to the amount that you have taken as a loan against your gold from the bank. GoldLoan EMI calculator can be studied for various banks on the apps that compared EMI repayment amounts, for different interest rates offered by different banks against the amount that is to be taken by you from the bank against your gold.

Conclusion: Canara Bank offers gold loans at affordable interest rates. However, before going for any gold loan haphazardly check the best offers available The additional benefit from the bank is that the loan can be extended if you already have an account with the bank and have eligible creditworthiness provided the client must be of eligible age and must be Indian.

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