What is Canara Swarna Loan?

Swarna Loan is a secured credit facility offered against the pledge of gold jewellery or specially minted gold coins. It unlocks the value of gold without requiring a sale, providing instant liquidity for financial needs. Designed for quick processing with minimal formalities, it serves as an efficient solution for immediate fund requirements.

Purpose of Canara Swarna Loan

The primary purpose of Swarna Loan is to address unforeseen contingencies (non-speculative purposes). These include:

  • Medical emergencies – Instant financial support for urgent medical needs.
  • Domestic expenses – covering household needs or sudden expenses that arise in day-to-day life.
  • Investment opportunities – leveraging your gold for short-term, non-speculative financial purposes.

Key Details of Swarna Loan

  • Nature of Facility: Term Loan/Overdraft Facility.
  • Loan Quantum: 70% of the appraised value of gold.

Minimum Loan Amount - ₹5,000

Maximum Loan Amount - ₹35 lakh (subject to the overall ceiling under the Swarna Loan, Swarna OD, Swarna Express and Swarna Monthly Interest schemes).

  • Security: Pledge of gold jewellery or specially minted gold coins (up to 50 grams per customer).
  • Repayment: 6 to 12 months, bullet repayment/Running Limit.

Eligibility Criteria

  • Resident Individual
  • NRI

Why Choose us for Canara Swarna Loan?

When borrowing against gold, a service that is both fast and trustworthy is essential. Swarna Loan offers the following benefits:

  • Instant approval and disbursement
  • Competitive gold loan interest rates
  • Flexible repayment options
  • Minimal processing charges
  • Simplified digital documentation