PNB Gold Loan Interest Rate

PNB Gold Loan Interest Rate Mar 2017

Last Updated 08th Dec 2016
Interest Rate 10.75% - 11.75% Check Special Offer
Repayment Options EMI Scheme, Bullet Repayment Scheme, Overdraft Scheme
Loan Tenure to 12 months
Minimum and Maximum Loan Amount Rs. 0 and Rs. 1,000,000
Processing Fee upfront fees of 0.70% of loan amount + taxes
Prepayment Charges Nil
Apply Gold Loan Online @11.00%*
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PNB Gold Loan

PNB Gold Loan Interest Rate Calculator
PNB Gold Loan Interest rate calculator works on various inputs like
  • Loan Amount – Generally banks offer lower interest rates for higher amount. However, PNB offers loan between Rs. 0 and Rs. 1,000,000 amount.
  • Relationship with the Bank – PNB offers special rates, offers and charges to the existing account holders of the bank. Those who have managed their accounts and made all the payments on time in past will get benefit of low gold loan interest rates from the bank.
  • Repayment Capacity – Before giving loan to the borrower, PNB checks the repayment capacity of the borrower. Bank verifies the repayment capacity of the customer through CIBIL as it has all the details of previous loans taken and their repayments. CIBIL also gives the information of credit card bills payment.
PNB Gold Loan Eligibility Calculator
Eligibility of gold loan in PNB relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Quantity and quality of gold pledged: Gold loan eligibility depends upon the weight and assessment of purity of the gold jewelry that is being pledged. Gold ornaments karatage should be in the range of 18 to 24 karats. Both hallmarked jewellery and non hallmarked jewellery can be used for availing gold loan.
  • Gold loan rate per gram: PNB will value the jewelry based on price of 22 carat gold adjusted for purity. PNB use thirty days average rates of 22 carat gold prices. You can also check today gold rate at Myloancare.
  • Form of gold pledged: You can get gold loan from PNB against jewelry or ornaments with a purity of 18 carats or more and specially minted gold coins with a weight of up to 50 grams. You will not be eligible for gold loan against gold bars, ETFs (exchange traded funds), specially minted coins of more than 50 grams and ladies mangal sutra.
  • Purpose for which loan is used: You can use the gold loan from PNB for personal, business and agricultural purposes. However, you should not use gold loan for speculative purposes such as purchase of gold coins, jewels, land, and investment in stocks, futures and options.
PNB Gold Loan EMI Calculator
Gold Loan EMI of PNB is a fixed amount that you pay each month towards the repayment of your jewel loan. Lowest EMI offered by PNB is Rs. 8,827 per lakh loan amount. Gold loan EMI of PNB depends upon:
  • Rate of interest: Higher the interest rate, higher will be the EMI. For a 12 months gold loan from PNB at interest rate of 10.75% per annum, EMI will be Rs. 8,827 per Rs. one lakh loan amount. At interest rate of 11.75% for the same loan, the EMI will be Rs. 8,873
  • Loan tenure: Longer the loan tenure, lesser your monthly EMI. At 10.75% per annum, the EMI would range from Rs. 0 to Rs. 8,827 for loan tenure ranging from to 12 months

Documents Required for PNB Gold Loan

The documentation process of PNB is smooth. Here is a list of documents which are required to apply for home loan from PNB:
  • Identity proof: Passport, Driving License, PAN Card, Aadhar Card, Voter's ID Card
  • Address proof: Aadhar Card, Voter’s ID Card bank statement, rent agreement, utility bills, registry copy

Compare Gold Loan Interest Rates of PNB with other banks

Frequently Asked Questions

What is the maximum loan tenure I can opt under PNB jewel loan?

PNB offers you tenure of upto 12 months to repay your gold loan.

Can I prepay my gold loan? What are the charges applicable?

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

What is the maximum gold loan amount available?

You can avail gold loan up to Rs. 1,000,000 from PNB
PNB Gold Loan News - Mar 2017
20th Apr 16 PNB becomes top mobiliser under Gold Monetisation Scheme
PNB has become the top mobiliser under Gold Monetisation Scheme, which was launched by Prime Minister Narendra Modi in November. The bank has mobilised substantial gold deposit under Short Gold Bank Term Deposit (STGBD) for three years from one of the leading trusts of India. Under the GMS, banks are authorised to collect gold for up to 15 years to auction them off or lend to jewellers from time to time. Depositors will earn up to 2.50% interest per annum, a rate lower than bank deposits.
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