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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.

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

  • 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.