Canara Bank Gold Loan Rate Per Gram Today
Canara Bank Gold Loan Rate Per Gram Today
Canara Bank Gold Loan Rate
SWARNA LOAN
| Parameters | Features |
| Nature of Credit Facility | Single Transaction Limit (STL)/Overdraft(OD) |
| Purpose | To meet medical expenses and other unforeseen Commitment/ Contingencies etc. |
| Quantum of Loan | Minimum Amount – Rs. 5,000
Maximum Amount – Rs. 35.00 Lakh. |
| Security | Against the pledge of gold ornaments / Jewellery.
Loan shall be against Ornaments, specially minted Gold Coins sold by Banks and not against Gold Coin, Bullion etc.
Total weight of Specially minted Gold Coins (sold by the Banks) shall not exceed 50 grams per customer. |
| Repayment Period | Swarna (Single Transaction Limit): The entire loan shall be repaid within 12 months from the date of sanction as a bullet payment along with interest. Interest will be accrued to the account at monthly rests compounded, but will become due for payment along with principal only at maturity.
Swarna Express (Single Transaction Limit): The entire loan shall be repaid within 6 months from the date of sanction as a bullet payment along with interest. Interest will be accrued to the account at monthly rests compounded, but will become due for payment along with principal only at maturity.
Overdraft: 2 Years, subject to Annual Review. Interest is to be serviced monthly. |
| Prepayment Penalty | Nil |
