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Punjab National Bank Gold Loan Highlights |
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| Interest Rate | 9.25% p.a. |
| Loan Amount | Rs 25,000- Rs 25 lakh |
| LTV Ratio | Up to 75% of gold’s market value |
| Tenure | Up to 1 year |
| Processing Fee | 0.30% of loan amount or Rs 500, whichever is higher |
| Collateral | Pledge of gold jewellery/ornaments |
| Repayment Options | Overdraft, Bullet Repayment, EMI based |
Rates as of 3rd October 2024
Punjab National Bank Gold Loan Interest Rates
The interest rate of PNB Gold Loan is 9.25% p.a. The lender offers Punjab National Bank Gold Loan interest rates based on the type of gold loan and nature of loan facility i.e. demand loan/overdraft.
| Type of Gold Loan Scheme | Interest Rate (p.a.) |
| Advance against Gold Jewellery/Gold Ornaments (Demand Loan) | 9.25% |
| Advance against Gold Jewellery/Gold Ornaments (Overdraft) | 9.25% |
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Punjab National Bank Gold Loan Fees and Charges
| Particulars | Charges |
| Processing Fees | 0.30% of loan amount or Rs 500, whichever is higher |
| Documentation Charges | NIL |
PNB Scheme for Advance Against Gold Jewellery/Ornaments
Purpose: Consumers can avail Advance against Gold Jewellery or Ornaments to raise funds for personal requirements and non-agricultural purposes only, such as education, marriage, medical and other unforeseen expenses.
Loan Amount: Rs 25,000-Rs 25 lakh
Repayment:
Applicants can make repayments through any of the following repayment options:
- Overdraft Facility which is renewed every year
- EMI based and Overdraft account- Interest based
- Bullet Repayment- Payment of interest and principal at maturity, i.e., up to 1 year
Margin of Punjab National Bank Gold Loan:
| Particulars | Margin |
| Demand Loan- Bullet Repayment | Up to 30% |
| Demand Loan- EMI based | Up to 25% |
| Overdraft | Up to 25% |
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Eligibility Criteria for Punjab National Bank Gold Loan Applicants
Punjab National Bank has not disclosed the eligibility criteria for evaluating its gold loan applicants. However, the lender may consider the age and weight and purity of gold pledged by the applicant, etc. while evaluating their gold loan eligibility, just like many lenders do.
Documents Required for Availing Punjab National Bank Gold Loan
Punjab National Bank has not mentioned the documents required for availing gold loan. However, the applicants may consider the following gold loan documents while applying for Punjab National Bank Gold Loan.
- Duly filled application form with photographs
- ID Proof- Aadhaar card, passport, driving license, PAN card
- Address Proof- Passport, Utility bills, Aadhaar card, PAN card