Bank Profile and Loan Eligibility
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Canara bank is a public sector bank.
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It is listed on BSE and NSE.
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It was incorporated in 1908.
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It is headquartered in Alkapuri, Vadodara.
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Any individual owning specially minted gold coins sold by any Bank Gold Ornaments
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Applicant should be above 18.
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Retail Gold Loan provides competitive interest rates with the added benefit of women's rates..
Unique Features
Interest Rate:
Demand Loan:7.75% (BRLLR+SP+1.00%)
Overdraft:7.85% (BRLLR+SP+1.10%)
EMI:7.75% (BRLLR+SP+1.00%)
Maximum loan upto INR 25.00 Lakh
Repayment Mode:
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Interest accrues each month. The loan's principle can be returned in full at any moment by making a bullet payment.
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EMI – EMI on monthly basis.
Type of Facility:
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Demand Loan
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Over Draft
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EMI
Processing Fee
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No Fees Up to Rs 3.00 lakhs
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Applicable charges +GST for above Rs 3.00 lakhs up to Rs 25.00 lakhs
Prepayment Charges
Nil
BRLLR
Baroda Repo Linked Lending Rate-6.50%
Loan Limit
Loan available upto INR 25 Lakh
Tenure
12 to 36 months
Quality
The quality of Gold should be minimum 18 carat
Key Features
Late Payment Charges
2% p.a. + Applicable
rate of interest.
Purpose
Any other reason than speculation
Eligibility
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Gold Coin of maximum iup to 50 gm per borrower
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Must be Indian citizen
Repayment Type
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Repayment Mode
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Monthly Interest
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EMI
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Safety of Jewellery
Bank of Baroda is accountable for the security of your gold
Loan to Value Ratio
75%
Documents Required
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Passport-size photos taken recently
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Completed and signed application form
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Any of the following papers can be used as proof of identity: PAN card, passport, voter ID, driver's licence, or Aadhaar card.
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Any of the following documents can be used as proof of residency: ration card, passport, current utility bills, or Aadhaar card.
What We Did Not Like
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Maximum loan limit should be increased.
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LTV can be increased.
MyRupaya Rating
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