Punjab National Bank Loan Against Gold

I have account in Punjab national bank but I want get loan against my gold jewelry so want to know how many maximum percentage loan I can get an also tell me what is advantage of ?

[Pathak]

Gold loans do not demand any qualifications for income or salary of the person. So even if you are unemployed and unsalaried you can still avail of a gold loan.

Advantage:
The advantage of taking a gold loan is that they are available on low interest rates,

You can avail Loan up to Rs.20,00,000 & up to 90% of value for any purpose

Safety & Security of your Gold Jewellery

Loan processed in 30 Minutes

ATL - Anytime Liquidity

Documents required For Gold Loan:

Proof of Identity (Passport Copy/ Voters ID card/ Driving License)

Address Proof (Ration card/ Tel, Electricity. Bill/ Rental Agr. / Passport copy/Trade license /Shop & Est. License/Sales Tax certificate).

Signature Proof (Passport Copy/Driving License/Banker's verification/cheque)

2 passport size photographs

i have an account in pnb.iwant to take loan against jwellary of about 10 lacs. how mch loan i can get ? please tell about intrst rate,document required...

how to apply for gold loan. how much percentage will we get of our gold what is the rate of interest and what will the process of payback the loan

Can you tell me in detail about the Advance against Gold Jewellery / Ornaments & Gold Coins Scheme of PNB (Punjab National Bank) as I want to apply for it?

[sumit]

The details of the Advance against Gold Jewellery / Ornaments & Gold Coins Scheme of PNB (Punjab National Bank) are as follows:

Advance Against Gold Jewellery / Ornaments & Gold Coins

Purpose
For productive purposes such as agricultural/allied and other activities and for non-productive purposes (meeting medical, educational, marriage expenses and other unforeseen expenses etc.)


Quantum of Finance
Productive purposes - Need based, without ceiling.
Non-productive purposes - Max Amount of Loan - Rs.10.00 lacs


Margin
i. 35% for bullet payment option
ii. 25% for payment of interest as and when levied option


Security
Gold jewellery ornaments and Gold coins issued by any scheduled bank/ PNB bank. However, advance against the security of gold coins sold by schedule bank / PNB bank (which are specially minted gold coins), the weight of the coin shall not exceed 50 grams per customer.


Valuation
Rates 22 carat gold for the purpose of financing to be advised by RAD
HO at prescribed intervals (presently monthly basis).
If Gold with purity less than 22 carat is accepted as security, the value be converted proportionately into 22 carat for financing under the Scheme


Repayment (Maximum)

Loans for Agricultural Purposes:

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

i. Interest is charged/recover at yearly/half yearly intervals coinciding with the harvesting of crops. However, the account is adjusted within a maximum period of 12 months or as and when demanded. OD facility to be renewed annually.
ii. Repayment through Bullet Payment i.e. payment of interest and principal at maturity.


Loans for Non Agricultural Purposes (Productive & Non-productive):

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

i. Regular servicing of interest as and when levied, principal being repayable within 12 months or as and when demanded. OD facility to be renewed annually.

ii. Repayment through Bullet Payment i.e. payment of interest and principal at maturity.


Prepayment Charges
NIL