Benefits

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To apply for the scheme for advance against Gold Jewellery/ Gold Ornaments Click here

Eligibility

ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS

  • Advance against the security of gold Jewellery/ ornaments for personal needs and for non-agricultural purposes only (meeting medical, educational, marriage expenses and other unforeseen expenses etc.).

ADVANCE AGAINST SOVEREIGN GOLD BONDS

  • A person resident of India, being an individual in his capacity as individual or on behalf of minor child, or jointly with another individual.
  • Trust, HUF, Charitable Institutions and University.

Nature Of Facility

ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS

  • Demand loan – Bullet repayment
  • Demand Loan - EMI BASED
  • Overdraft

ADVANCE AGAINST SOVEREIGN GOLD BONDS

  • Demand Loan
  • Overdraft

Quantum Of Finance

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

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%

Security

ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS

  • Pledge of Gold Jewellery / ornaments

ADVANCE AGAINST SOVEREIGN GOLD BONDS

  • Pledge/Lien on Sovereign Gold bond in favour of the bank.
  • Loans will be available against Sovereign Gold Bonds held in Dematerialized form with the Depository Participant of NSDL only.

Disbursement

ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS

  • The disbursement of the Demand loan by way of credit in the Saving Bank/Current account of the borrower maintained with us or any other bank.

ADVANCE AGAINST SOVEREIGN GOLD BONDS

  • In case of demand loan, the disbursement of the loan should be by way of credit in the operative account of the borrower with the bank

Repayment Period

ADVANCE AGAINST GOLD JEWELLERY/GOLD ORNAMENTS

The loan to be repaid by any of the following option:

  • Demand loan – Bullet repayment - A variant of gold loan where repayment of loan is permitted by way of bullet repayment at the end of the term i.e. maximum up to 12 months. There is no requirement to service the interest or instalment during the loan term.
  • Demand Loan - EMI BASED - A traditional variant of Gold Loan with repayment Facility in 36 Months.
  • Overdraft - The overdraft facility will be sanctioned for a period of 12 months only subject to annual review. Interest debited in the account on monthly basis to be recovered from the customer

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.

Rate Of Interest

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Upfront Fee

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Documentation Charges

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