Introduction to PNB Gold Loan
If you have gold and are in need of money, you can opt for a gold loan from Punjab National Bank (PNB). PNB offers gold loans at competitive interest rates.
Highlights of PNB Gold Loan 2025
| Below is a table that provides details about PNB gold loan 2025: | Gold Loan | PNB Gold Loan |
|---|---|---|
| Interest Rate | 8.35% | |
| Loan Amount | Rs. 25,000 – Rs. 25 lakh | |
| Tenure | 12 months – 36 months | |
| Processing Fee | 0.30% of loan amount or Rs. 500 + GST, whichever is higher | |
| Collateral | Pledge of gold jewellery or gold ornaments |
PNB Gold Loan Interest Rate 2025
Punjab National Bank (PNB) offers its borrowers gold loans at low rates of interest. The amount for such a loan depends on the amount as well as the purity of gold. You can choose the one that suits you best from various gold loan schemes.
| The interest rate for different types of gold loan schemes available at Punjab National Bank is given in the table below: | Name of Scheme | Rate of Interest |
|---|---|---|
| Advance against Non-Agri (Retail) Gold Loan | 8.35% | |
| PNB Swarnim (Agri Gold Loan) | 8.75% | |
| Advance against Sovereign Gold Bonds (SGB) | 8.35% |
PNB Gold Loan Rate Per Gram
At Punjab National Bank, the gold loan rate per gram is Rs. 3,800 to Rs. 4,350 based on the current rate of gold. This rate is, however, applicable for 22 Carat gold possessing a loan to value (LTV) of a maximum of 75%.
PNB Agriculture Gold Loan Interest Rate
Punjab National Bank (PNB) offers ‘PNB Swarnim’ gold loan scheme to individuals, farmers and agricultural entrepreneurs. This scheme is specially designed to meet the needs of agricultural purposes, such as purchase of fertilisers, seed purchases, farm equipment, pesticides, and other agricultural inputs.
PNB offers its borrowers agricultural gold loans at a rate of interest of 8.75% p.a. The loan tenure is for 1 year and the maximum extent of loan is Rs. 10 lakh per borrower.
PNB Gold Loan Interest Rate for Farmers
Individuals and farmers engaged in agricultural activities can apply for an agricultural gold loan under the ‘PNB Swarnim’ gold loan scheme. The gold loan interest rate for farmers under the PNB agricultural gold loan scheme is 8.75% p.a.
PNB Gold Loan Repayment Period
Borrowers have the option to take a loan against their gold jewellery or gold ornaments for a repayment period of 12 months for demand loans and agricultural loans, while it is 36 months for EMI based term and demand loans. For loans against gold bonds, the maximum repayment period is 8 years or until the date of maturity of the bonds, whichever comes earlier.
PNB Gold Loan Eligibility Criteria
Here are the eligibility criteria for the Punjab National Bank gold loan scheme:
- The borrower’s age must be at least 18 years and above.
- The following persons can apply:
- Individual citizens
- Farmers
- Agricultural entrepreneurs, including tenant farmers, oral lessees and sharecroppers
- Any person engaged in any agriculture or allied activities
- Individuals should have a stable source of income.
- Borrower must have gold ornaments or gold jewellery.
- Individuals having a savings account with the bank.
PNB Gold Loan Procedure
Below is the gold loan procedure of Punjab National Bank:
- Submit the filled-out gold loan application to the bank. An individual borrower can obtain and submit the application either online or offline.
- Upon submission of the application form, the representative at PNB will contact you. However, if you avail of the home service option, the bank will send a representative to your home. The financial institutions check for the purity of gold first, and then the appraiser fixes the prices and quality of gold.
- The bank follows the KYC guidelines for completing the KYC process. For this, you need to keep your KYC documents ready.
- Once all the documents are verified, the bank approves your gold loan.
Documents Required for PNB Gold Loan
Here is the list of documents you need to carry while applying for a gold loan at Punjab National Bank:
- Two passport-size photographs.
- Identity proof, such as Passport, Aadhaar card or PAN card.
- Address proof, such as Ration card, utility bills or driving license.
PNB Gold Loan Processing Fee
| Punjab National Bank levies a nominal processing fee of the loan amount. The below table provides the processing fees for different PNB gold loan schemes: | Gold Loan Scheme | Processing Charges |
|---|---|---|
| Advance against Non-Agri (Retail) Gold Loan | 0.30% of loan amount + GST or Rs. 500 + GST, whichever is higher | |
| PNB Swarnim (Agri Gold Loan) | Upto Rs.50,000 – NIL, Above Rs. 50,000 upto Rs. 2 lakh – Rs. 500 +GST, Above Rs. 2 lakh – 0.30% of the loan amount +GST | |
| Advance against Sovereign Gold Bonds (SGB) | NIL |
PNB Gold Loan Maximum Limit
Punjab National Bank offers a maximum loan amount of Rs. 25 lakh and the minimum amount is Rs.25,000. However, the maximum limit is Rs.10 lakh per borrower for agricultural loans, while there is no minimum amount limit for these loans.
How to Calculate Gold Loan Interest in PNB
You can calculate the interest rate and EMI payable on PNB gold loan, using the following formula:
EMI Payable = [P x R x (1+R)^N] / [(1+R)^N-1],
where,
P = Principal amount
R = Interest rate
N = Total number of monthly instalments
For example, if you borrow Rs. 6,00,000 at an interest rate of 8% per annum for a tenure of 24 months, the total interest will be Rs. 51,273 and EMI payable will be Rs. 27,136.
PNB Gold Loan Interest Rate Calculator
You can calculate your gold loan EMI easily with a gold loan calculator. With this calculator, you can find out the amount of EMI you need to pay for the borrowed loan amount and the EMI payable by just entering the loan amount, tenure and interest rate.
How to Close Gold Loan in PNB
Follow the steps below to close your gold loan in PNB:
- Pay the outstanding loan amount and the pending interest or charges.
- Visit the bank and collect the no-objection certificate (NOC).
- Obtain the pledged gold jewellery or ornaments by submitting the NOC.
- Receive all your documents from the bank once the loan is closed.
PNB Gold Loan Customer Care
For any issues relating to gold loans, you can contact the PNB customer care number 1800 1800 or 1800 2021 to get help instantly.
Conclusion
Applying for a gold loan with PNB has a lot of advantages. By choosing PNB, you can avail of a gold loan hassle-free. Pledging your gold ornaments, you can avail of an easy lending scheme with the bank. On pledging the gold, the bank instantly credits the loan amount into your account, which you can pay in the form of EMI instalments. Other banks also offer gold loan schemes, such as ICICI Bank, HDFC Bank, Bank of Baroda, Canara Bank, SBI, Axis Bank, and Central Bank.
