Punjab National Bank launches Digital Gold Loan, Check Amount, Interest Rate, Time Period
Punjab National Bank (PNB), the nation’s leading public sector bank, celebrated a one-day Digital Mahotsav at its Head Office in Dwarka, New Delhi, on [date]. At the event, PNB unveiled a plethora of products and services, including the Digital Gold Loan.
PNB Digital Gold Loan is a convenient and hassle-free credit facility that allows customers to pledge their gold jewellery/ornaments to obtain a loan for their personal or agricultural needs. Individuals can apply for a loan ranging from Rs 25,000 to Rs 25 lakhs for their personal needs, and persons engaged in agriculture or allied activities can apply for a loan ranging from Rs 10,000 to Rs 2 lakhs.
The entire loan process, from application to disbursement, is streamlined and digitized, making it convenient for customers.
PNB Gold Loan Interest Rate
| Sr | Name Of Scheme | Revised Rate Of Interest |
|---|---|---|
| 1 | Advance against Gold Jewellery/Gold Ornaments(Demand Loan) | RLLR+BSP (Presently 9.25%) |
| 2 | Advance against Sovereign Gold Bonds (Demand Loan) | |
| 3 | Advance against Sovereign Gold Bonds(Overdraft) | RLLR+BSP (Presently 9.25%) |
| 4 | Advance against Gold Jewellery/Ornaments(Overdraft) |
PNB Gold Loan Amount
ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS
- Minimum – Rs. 25000/-
- Maximum – Rs. 25.00 lakh
ADVANCE AGAINST SOVEREIGN GOLD BONDS
- Minimum – Rs. 50000/-
- Maximum – Need BASED
PNB Gold Loan Margin
ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS
- Demand loan – Bullet repayment – 30%
- Demand Loan – EMI BASED – 25%
- Overdraft – 25%
ADVANCE AGAINST SOVEREIGN GOLD BONDS
- Individuals – 25%
- Other than individuals – 40%
PNB Gold Loan Repayment Period
ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS
The loan to be repaid by any of the following option:
- OD facility to be renewed every year
- Regular servicing of interest as and when levied in case of Demand Loan – EMI based and Overdraft Account
- Repayment through Bullet Payment i.e. payment of interest and principal at maturity max. up to 12 months
ADVANCE AGAINST SOVEREIGN GOLD BONDS
- Till the date of maturity i.e. Maximum 8 years or residual period of the Gold Bond whichever is earlier.
Speaking at the launch, the MD & CEO of PNB said, “In an era where banking should effortlessly blend convenience, flexibility, and transparency, PNB Digital Gold Loan offering will be a golden ticket to a modern banking experience. Our Bank extends its wings to the realm of gold loans through the existing Gold Loan Products, i.e., PNB Swarnim under Agriculture Segment & PNB Gold Loan under Retail segment. Borrowers will get the advantage of competitive interest rates, seamless service, ensuring that their financial journey is cost-effective.”
The Executive Director of PNB congratulated the employees on the new initiative and said, “I congratulate PNB Parivaar on the successful launch of over 70+ digital offerings in the past 12 months. These initiatives are in line with our journey of Digital and HR transformation and are helping us become a digitally-focused, new age banking behemoth.”
During the Digital Mahotsav, PNB also felicitated its Digital Champions from its top-performing zones, circles, and branches. A range of digital offerings such as Pre-Approved Personal Loan (PAPL), Pre-Approved Business Loan (PABL), E-GST Express, Krishi Tatkal Rin, Digi Home Loan, and several other digital offerings were also on display at the event.
