PNB gold loan is a financing scheme for people who wish to meet their immediate monetary requirements. The Punjab National Bank (PNB) offers to its customer loan against gold coins, gold ornaments, jewellery, etc. People in India can avail this gold loan for productive purposes such as agricultural activities and related activities or other purposes like education, medicine or for unplanned emergencies. Based on the requirement, the bank approved a certain amount of loan at the best interest rates.
You can find details about Punjab National Bank Gold Loan on Loanbaba.com, so keep a check on this page for further updated information.
| PNB Gold Loan Details Updated on | |
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Loan Amount |
Rs. 10 lakhs maximum |
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Loan Tenure |
Up to 12 months |
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Interest Rate |
10.05% to 11.05% onwards |
The Punjab National Bank has attractive offer on gold loan. It charges nominal rate of interest. The loan amount can be used for desirable purpose. Loan tenure is flexible and one can get maximum amount as per the gold weight. The procedure for loan sanctioning is transparent and the bank has helped several customers fulfil their financial needs with loan against gold.
At Loanbaba, you can compare and apply for gold loans online. You can check out several gold loan schemes go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. The application process is simple and easy, as you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
The Punjab National Bank Gold Loan interest rate charged is related to various factors. The interest rate per year starts at 10.05% to 11.05%. The bank has the right to change its interest rates and borrowers have to clarify with the bank about the existing bank rate.
Gold loan eligibility may differ from one candidate to another. You can also use free-of-cost gold loan eligibility calculator at Loanbaba.com
The bank has gold loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.
Below provided is important PNB Gold Loan FAQs.
These loans can be paid either in 12 monthly or four quarterly EMIs. Interest shall apply on a half-yearly or yearly basis based on the harvest season. However, the tenure will not exceed 12 months. The overdraft facility can still be renewed annually.
If the loans are availed for non-agricultural requirements, then the repayments should be either in 12 monthly or four quarterly EMIs. The overdraft facility allows renewal annually. Interest will apply to the principal. However, the tenure will not exceed 12 months.
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An upfront fee |
0.7 % plus GST |
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Documentation fee |
For loans up to Rs 2 lakhs, an amount equivalent to 270 plus GST shall apply. For loans more than Rs 2 lakhs, an amount equivalent to 270 plus GST shall apply. |
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Charges on prepayments |
Nil |
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If taken for productive practices |
Rate of Interest |
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Loans up to Rs 10 lakhs for agriculture |
MCLR + 1.6 % |
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Non-agricultural productive purpose |
MCLR + 2.6 % |
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Loans up to Rs 10 lakhs for other purposes |
MCLR + 2.6 % |
Disclaimer : Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of PNB Bank.
