Punjab National Bank launches Digital Gold Loan, Check Amount, Interest Rate, Time Period

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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.

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PNB Gold Loan Interest Rate

SrName Of SchemeRevised Rate Of Interest
1Advance against Gold Jewellery/Gold Ornaments(Demand Loan)RLLR+BSP (Presently 9.25%)
2Advance against Sovereign Gold Bonds (Demand Loan)
3Advance against Sovereign Gold Bonds(Overdraft)RLLR+BSP (Presently 9.25%)
4Advance 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

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  • 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:

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  • 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.

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