|The salient features of the scheme are as under:-
- 24 Karat 999,9 pure gold Swiss made with Assay Certification, supplied by a reputed and known PAMP Refinery Switzerland, signifying the highest level of purity as per international standards. PAMP is owned by M K S Finance S A, Geneva, Switzerland.
- Round shape customised gold coins in denomination of 5 grams, 8grams and 10 grams bearing our Bank's name, logo and coin denomination on one side and pictures of Goddess Lakshmi or Lord Ganesh on the other side.
- Packaged in a tamper proof laminated card for easy viewing and prevent damage/theft during transit.
- In case of any defect as to quality and quantity, coin will be replaced by the manufacturer as long as certicard is intact.
- Both customers and non-customers are eligible to buy gold coins. Any transactions of Rs. 50000 or more will attract the requirement of quoting of PAN.
- The sale price depending on the market rate will be informed on day to day basis by Precious Metal Cell, ID Mumbai.
- Gold coin can be purchased from our designated branches.
Frequently asked question (FAQ) on retail sale of gold coins
1. In what denomination and shape gold coins are available?
Coins are available in 5 grams,8 grams and 10 grams, in round shape. The coin bears Canara Bank's name, logo and coin denomination on one side and pictures of goddess Lakshmi or Lord Ganesh on the other side.
2. Whether, all Canara Bank branches are selling gold coins?
No, only designated branches are selling gold coins.
3. Which are the branches selling gold coins?
At present only 37 branches have been designated for retail selling. A list of 37 designated branches along with contact numbers and e-mail IDs is attached.
4. What customer has to produce to purchase the coins?
Every body can purchase the coin, whether Canara Bank customer or not. If the purchase of Gold coin is Rs.50000/- or above, the customer has to furnish his Permanent Account Number. "Gold coin requisition slip" will be provided by the designated branch. A duly filled in "gold coin requisition slip" should be submitted to the branch. In case of payment by cheque, the cheque should be drawn on designated branch only, where "gold coin requisition slip" has been tendered.
5. Whether price of gold is constant?
No, the price of Gold is market driven and keeps on changing. Local taxes extra.
6. Whether bank can supply the gold coin embossed with Company's name and logo as per the design and specification in case of bulk purchase?
Yes, Bank can supply customised coins for companies with their name logo design and specification in case of bulk order.
7. What are the timings of the sale?
The sale of gold coins will commence at normal business hours, but it will conclude half an hour earlier than usual closure of business.
8. What is the purity of gold coins?
The coins are 24 karat pure, i.e. 999,9 purity.
9. Where from gold is sourced by the Bank?
Gold coins are Swiss made, made by PAMP Refinery, Switzerland.
10. Whether coins have Assay Certification?
Yes, all the coins are having Assay Certification. Further, to ensure safety of coins they are packed in tamper proof, certicard for easy viewing of the coins.
11. Whether Canara Bank buy back the gold sold by them?
No, as per the RBI stipulation we can not buy back the gold sold by us.