PNB Gold Loan Interest Rate

Last Updated 19th Apr 2018

PNB Gold Loan Interest Rates Apr 2018

PNB offers one of lowest gold loan rate of 9.75% , both for its existing bank customers as well as new borrowers. PNB jewel loan interest rate varies by amount of loan, purity of gold and loan to value ratio. Check Best Offers.

Gold Loan in PNB
Gold Loan Loan Details
PNB Gold Loan Rate 9.75% onwards
Processing Fee upfront fees of 0.70% of loan amount + taxes
Loan Tenure 12 months
Loan Amount Rs. 10 Lakh
Prepayment Charges Nil
Gold Loan SchemeEMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Apply Gold Loan @ 10.49%*
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PNB Gold Loan

Gold Loans are loans availed by pledging your gold ornaments with a bank. PNB gold loan can be taken for meeting urgent personal expenses like children education, marriage and other financial emergencies in the family as well as for business purposes. The gold mortgaged acts as a security to the loan. Taking a loan from PNB has the following benefits:

  • Pan India presence with a large branch network
  • Reasonable rate of interest
  • Complete safety of your gold in bank lockers

PNB Gold Loan Details

If you are planning to take a Loan against Gold from PNB, you need to know the following details of its gold loan schemes:

  • Purpose of Gold loan: To meet personal and business expense requirements
  • Collateral: Loan against security of your gold jewelry
  • Type of Gold Accepted: Gold jewelry or gold coins of up to 50 grams with a purity of 18 to 22 carat
  • Customer Segments: PNB offers jewel loans to all individuals above 18 years of age including salaried, self-employed professionals, businessmen, students, pensioners and housewives
  • Gold Loan Features
    • PNB Gold Loan Interest Rate starts from 9.75% to 10.75%
    • PNB charges a processing fees of upfront fees of 0.70% of loan amount + taxes
    • Loan Tenure of Gold Loan ranges from to 12 months
    • Lowest EMI per lakh on Gold Loan from PNB is Rs. 8,780 offered at the lowest interest rate of 9.75% at the longest loan tenure of 12 months
    • PNB allows prepayment of jewel loans with Nil charges
  • Documents Requirement: Only basic KYC documents for address proof and income proof required. The bank doesn’t require you to submit your income proof or doesn’t check your CIBIL score for approving a gold loan.
  • Popular Gold Loan Schemes of PNB
    • EMI Scheme
    • Bullet Repayment Scheme
    • Overdraft Scheme

How can I get a Gold Loan from PNB ?

You can apply for a gold loan with PNB directly through branch walk-in or by filling an online application form. However, to get the best gold loan rate offers and comparison of all banks, you can apply online through MyLoanCare. MyLoanCare will give you a detailed comparison of gold loan schemes of all banks, calculate your gold loan eligibility and connect you to the best bank for gold loan. Customer representatives of bank will get in touch with you instantly to fix up an appointment for branch visit. You will also be assisted by a dedicated MyLoanCare loan executive who will ensure that the process of getting loan is smooth, convenient and quick. You can get gold loan in a single branch visit during which PNB will do an appraisal of your jewellery in terms of its purity and weight. In case, the jewelry meets the bank standards, the bank will sanction your loan and give you an instant loan against the security of your gold jewelry.

PNB Gold Loan Interest Rate Calculator

Lowest Gold Loan Interest Rate in PNB is 9.75%.The factors that are used by PNB to calculate interest on gold loan are loan amount, loan tenure and loan required as a percent of value of gold jewelry. PNB’s existing account holders get gold loan at best rates compared to other customers.

  • Loan Amount: The amount of gold loan you can avail depends on the weight of jewelry you can pledge with the bank. Generally, banks offer a jewel loan per gram of gold which differs by the purity of gold and loan to value ratio offered. Banks offer lower interest rates for higher amount. PNB offers loan Rs. 10 Lakh amount.
  • Relationship with the Bank: PNB offers special rates, offers and charges to the existing account holders of the bank. Those who have made their payments on time in the past can get the benefit of low gold loan interest rate from PNB.
  • Loan tenure: Many banks charge higher rate of interest for gold loans of lower tenure and lower interest rate for gold loans of higher tenure. PNB offers gold loan with a tenure of to 12 months.
  • Loan to Value ratio: Maximum gold loan to value of gold jewelery ratio on gold jewelry has been fixed at 75% by RBI. However, PNB also offers loans at lower LTVs. Interest rate on loans with lower LTV will be lower compared to loans with higher LTV. Maximum LTV offered by PNB is 75% calculated on net weight of gold in your jewelry.
  • Purpose of Loan: All banks, including PNB also offer gold loan for agricultural purposes at low concessional rates, as the same is counted under priority sector lending targets of the bank. PNB's gold loan interest rate for agricultural loans is generally lower by 1-2% compared to its gold loan rate for regular customers.
Other Charges of Gold Loan PNB

In addition to interest rates, PNB also carry some other charges while offering gold loan which include:

  • Processing fees – PNB charges minimum processing fees upfront fees of 0.70% of loan amount + taxes. To get lowest fee, gold loan interest rates comparison, offers and cashback apply online through MyLoanCare.
  • Prepayment and foreclosure – Banks allows prepayment of gold loan and typically levy prepayment or foreclosure charges i.e. Nil.

Documents Required for PNB Gold Loan

The documentation process of PNB is smooth. You need to submit one proof of identity and one proof of address to get a gold loan. The list of identity and address proofs is as follows:

  • Identity proof: PAN Card, Driving License, Passport, Voter’s ID Card, Aadhar Card
  • Address proof: Voter’s ID Card, Aadhar Card, Rent Agreement, Utility Bills, Bank Statement

Compare Gold Loan Interest Rates of PNB with other banks

Frequently Asked Questions on PNB Gold Loan

Are there any prepayment charges on gold loan?

Yes, you can prepay your jewel loan. Applicable prepayment charges - Nil.

Is gold loan PNB available online? Is there a PNB gold loan online payment facility?

No, you cannot apply gold loan online in PNB to get a quick loan. Yes, PNB offers gold loan online payment facility.

Does PNB offer Agricultural Gold Loan?

No, PNB does not offer any special gold loan scheme for agriculture. You will need to avail loan against gold against the bank’s regular gold loan scheme, even if you need it for agricultural purposes.

How much gold loan can I avail from PNB?

You can get upto Rs. 10 Lakh as gold loan from PNB.


PNB Gold Loan News - Apr 2018
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