Punjab and Sind Bank (PSB) Gold Loan Key Features – Apply Now
| Punjab and Sind Bank (PSB) Gold Loan Interest Rate | 7.25% per annum |
|
Punjab and Sind Bank (PSB) Bank Gold Loan Per Gram
|
The rate Per Gram is ₹ 3,800 to ₹ 4,350 |
|
Punjab and Sind Bank (PSB) Gold Loan Processing Fee
|
1.0% of the Principal Loan Amount
|
|
Punjab and Sind Bank (PSB) Gold Loan Loan Amount
|
Up to Rs. 1 Crore (With Income Proof)
|
|
Punjab and Sind Bank (PSB) Gold Loan Prepayment Charges
|
2%+GST (Within 3 Months), 0 (After 3 months)
|
|
Punjab and Sind Bank (PSB) Gold Loan Repayment Tenure
|
Up to 36 Months
|
|
Punjab and Sind Bank (PSB) Gold Loan Repayment Scheme
|
Bullet Payment Scheme, Overdraft Scheme
|
Punjab and Sind Bank issues a Gold Loan per gram rate of ₹ 3,800 to ₹ 4,350 in line with the current gold rate. The best Punjab and Sind Bank Gold Loan Rate per gram is ₹ 3,800 to ₹ 4,350 for 22 Carat gold, measured at a maximum 75% loan to value, and the average gold price for the last one month for 22-carat is ₹ 3,800 to ₹ 4,350.
You just need to give a call on 9878981144 to avail of the best deals and offers on Punjab and Sind Bank Gold Loan.
Punjab and Sind Bank GL Explanation
Gold Loans are loans availed by pledging your gold ornaments with a bank. Punjab and Sind Bank gold loans can be taken for meeting urgent personal expenses like children’s 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 Punjab and Sind Bank has the following benefits:
Comparison Of Bank Gold Punjab and Sind Loan With Other Banks
Punjab and Sind Bank offers gold loans at affordable interest rates. However, you must analyze multiple banks and their offers before applying for a jewellery loan.
| Particulars | Punjab and Sind | SBI | HDFC Bank |
| Interest Rate | 7.25% per annum | 7.25% per annum | 9.90% – 17.55% |
| Processing Fees | Up to 1% of the loan amount, minimum Rs. 750 | 0.50% of the loan amount, minimum Rs. 500 | 1.50% of the loan amount |
| Loan Tenure | 3 months to 12 months | 3 months to 36 months | 3 months to 24 months |
| Loan Amount | ₹ 10,000 to ₹ 10 Lakh | ₹ 20,000 to ₹ 20 Lakh | ₹ 25,000 to ₹ 50 Lakh |
| Foreclosure Charges | Up to 1% of the outstanding amount | Nil | Nil after 3 months |
| Repayment Options | Y | Y | Y |
| Lowest EMI Per Lakh | ₹ 8,792 per lakh | ₹ 3,111 per lakh | ₹ 4,610 per lakh |
Tips To getting Best Gold Loan Amount Per Gram From Punjab and Sind
- Punjab and Sind Bank accepts both hallmarked and non-hallmarked jewellery for getting a gold loan. However, you can get the highest gold loan per gram for hallmark jewellery, as it reduces the chances of under-valuation by the valuer. Also, some banks charge a lower processing fee on hallmarked gold jewellery.
- Punjab and Sind Bank adjusts the price of 22-carat gold for the purity of gold. Hence, always try to borrow against higher purity jewellery as it will fetch you the highest amount for a Gold loan.
- Punjab and Sind Bank will calculate the net weight of jewellery to calculate the amount of loan against the gold you can get. Always, try to choose jewellery that has minimum gems and stones. Most of the banks will reduce the weight of gems and stones from the total weight of the jewellery. Punjab and Sind Bank will rely on the report of their gold valuer to calculate the net weight. Higher the weight of gems and stones in jewellery, lower the net weight and value of jewellery which results in a lower amount of jewel loan you can are eligible to get Further, Punjab and Sind Bank will not accept diamond jewellery if the gold used is of less than 18-carat purity. Most of the diamond jewellery is made in 16 carats to 18-carat gold and hence, will result in a very low gold loan per gram.
- Always try to get the maximum LTV on the value of gold. Punjab and Sind Bank is allowed by RBI to charge a maximum LTV of up to 85% to calculate the amount of gold loan you are eligible for.
Advantages Of Punjab and Sind Bank (PSB) Gold Loan
- Instant Gold Loan: To begin with, loan on gold the bank sanctions Gold Loan quickly. The sum of the loan ranges from Rs. Ten thousand to Rs. 15 Lacs. The amount of quantity can be availed over the counter rapidly.
- Gold Coins: Secondly, Punjab and Sind Bank Gold Loan can also be avail against the security of 24-Karat gold coins which holds complete purity issues by banks operating in India. However, the weight of gold cannot exceed more than fifty grams per customer. The rules are laid down by RBI and are subject to change.
- Loan Tenure: Also, When it comes to availing Punjab and Sind Bank Gold Loan, then it holds the minimum duration of a half year to a most extreme of a year.
- Attractive interest rates: the Fascinating rate of interest: On per gram of gold, the borrower can get the fascinating interest rate. Take a glimpse at the gold’s recent running interest rate.
- Foreclosure: The bank charges a borrower up to .50% on the principal outstanding in case of a Gold Loan Foreclosure.
How Much Gold Loan Can I Get Through Punjab and Sind Bank (PSB) Gold Loan
According to the latest gold prices, Punjab and Sind Bank (PSB) gold loans per gram starting at ₹ 3,800 to ₹ 4,350. Highest Punjab and Sind Bank (PSB) gold loan rate per gram today is ₹ 3,800 to ₹ 4,350 for 24-carat jewellery calculated at a maximum LTV of 75%.
Punjab and Sind Bank Gold Loan Per Gram – Apr 18 2024
Updated - Gold Loan Per Gram Rate w.e.f Apr 18 2024 |
||||
| Gold Weight | Gold Purity 24 Carat |
Gold Purity 22 Carat |
Gold Purity 20 Carat |
Gold Purity 18 Carat |
| 1 gram | 4621 | 4290 | 3900 | 3510 |
| 10 gram | 46210 | 42900 | 39000 | 35100 |
| 20 gram | 93600 | 85800 | 78000 | 70200 |
| 30 gram | 140400 | 128700 | 117000 | 105300 |
| 40 gram | 187200 | 171600 | 156000 | 140400 |
| 50 gram | 234000 | 214500 | 195000 | 175500 |
| 100 gram | 468000 | 429000 | 390000 | 351000 |
| 200 gram | 936000 | 858000 | 780000 | 702000 |
| 300 gram | 1404000 | 1287000 | 1170000 | 1053000 |
| 400 gram | 1872000 | 1716000 | 1560000 | 1404000 |
| 500 gram | 2340000 | 2145000 | 1950000 | 1755000 |
About Punjab and Sind Bank (PSB) Gold Loan
Punjab and Sind Bank of India is a significant public sector bank in India. The bank provides so many financial products to the customers. Punjab and Sind Bank Gold Loan include a car loan, personal loan, gold loan, banking, internet banking, wealth management, and credit cards. The bank is well known for its financial services and products.
Gold Loan is a kind of secured loan where a customer pledges his gold as a security to the bank and get the required amount of loan. A gold loan is also known as a loan against gold. In Punjab and Sind Bank Gold Loan, you have to give some amount of interest to the bank along with the principal amount. Furthermore, The moment you return your loan you will get your pledged gold back. The bank is entirely responsible for the security of the gold.
- Punjab and Sind Bank (PSB) Gold Loan Interest Rate is 7.25% per annum
- Punjab and Sind Bank (PSB) Gold Loan Per Gram Rate is ₹ 3,800 to ₹ 4,350
- Punjab and Sind Bank (PSB) Gold Loan Tenure: Up to 36 months
- Punjab and Sind Bank (PSB) Gold Loan Processing Fee is Up to 1.0% of the Loan Amount + GST
Punjab and Sind Bank (PSB) Gold Loan Eligibility
Punjab and Sind Bank Gold Loan is a financial product provided by the bank which caters to your needs of short term or long term funds. It is easy to avail of financial services provided by banks at low rates of interest and also requires minimal documentation for the same. Punjab and Sind Bank gives you the Loan amount within an hour of application as the valuation and approval process is quickly done, keeping in mind your urgency regarding the need for funds.
Major Eligibility criteria for availing of the Punjab and Sind Bank Gold Loan is:
| Age | 18-70 years of age |
| Nationality | Indian |
| Employment Status | Salaried, Self-Employed |
| Gold Quality | Minimum 18 Carats (10 grams) |
A good Credit or CIBIL score is not required to apply for the Gold Loan as it is a fully secured financial service against your gold as collateral security.
Punjab and Sindh Bank (PSB) Gold Loan At Home
Gold Loan at House is a doorstep loan service that allows you to borrow money from the convenience of your own home. The service is rapid, flexible, and cost-effective because interest rates are low. You can use the gold loan calculator to assess the value of your gold or the loan amount before completing a loan request. Obtaining a Gold Loan at home is an easy and quick process that can be done in a matter of minutes.
Within 30 minutes, one of our employees will contact you and arrive at your home. When all e-documentation and gold identification are completed at your residence, the appropriate gold loan amount will be sent directly to your bank account.
Furthermore, there are many benefits of Punjab and Sindh Bank (PSB) Gold Loan at Home:
- Fast loan approval
- Lower interest rates
- Maximum value of gold
- Flexible repay tenures
- Easy payment options
- No additional charges
- 24*7 customer support
- Full security of the gold
- No hidden fees
- Service at your doorstep within 30 minutes
Punjab and Sind Bank (PSB) Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Punjab and Sind Bank wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire Punjab and Sind Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures the high security of your gold ornaments till the loan is closed.
Documents required for Applying for Punjab and Sind Bank Gold Loan are :
A duly filled and signed Gold Loan application form shall be submitted along with the following documents:
| Photographs | 2 Passport Size |
| Identity Proof | Aadhar Card, Passport, PAN Card, etc. (Only 1 is required) |
| Residence Proof | Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required) |
| Agricultural Land Proof | Agricultural Land Proof and Income Statement of the applicant have required in the case the applicant wants the Gold Loan for Agricultural purposes. |
*Any other documents as requested by the bank shall be duly submitted.*
Punjab and Sind Bank (PSB) Gold Loan Interest Rate, Fees and Charges
A Punjab and Sind Bank Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates is offered by the Punjab and Sind Bank are lower in comparison to other loans because it is a fully secured loan.
The Gold Loan interest rates in the Punjab and Sind Bank start at 7.0% per annum. The bank also charges some additional fees along with the rate of interest in some cases, which are :
| Punjab and Sind Bank (PSB) Gold Loan Interest Rate | 7.25% per annum |
|
Processing Fee
|
1.0% of the Principal Loan Amount
|
|
Prepayment/Foreclosure Charges
|
2%+GST (Within 3 Months), 0 (After 3 months)
|
| Valuation Fee |
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
|
|
Late Repayment Charges
|
2% p.a. + Applicable rate of interest.
|
|
Renewal Processing Fees
|
Rs 350 + GST |
Punjab and Sind Bank (PSB) Gold Loan Apply Online
Applying for the Punjab and Sind Bank Gold Loan service is a simple and hassle-free process that can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with necessary information regarding yourself and the Gold Loan you wish to avail yourself of. You will then need to visit the branch with the required documents and your gold.
You can likewise apply with Dialabank by following the beneath-mentioned steps to get a Gold Loan as per your demand.
- Visit Dialabank’s website, where you will have to fill a form without any registration.
- Our Relationship Manager will communicate with you and support you during the Gold Loan process and help you in fulfilling your financial needs.
- You will get personalized assistance, granting you the advantage of analyzing and selecting the best deal according to your requirements without any additional charges.
- With Dialabank, you can identify the various offers and schemes from multiple banks based on the funding provided and the rate of interest charged for choosing the best loan opportunity for yourself.
Punjab and Sind Bank (PSB) Gold Loan EMI Calculator
How To Pay Your Punjab and Sind Bank (PSB) Gold Loan EMI?
Your Punjab and Sind Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): In the case, the candidate with a current record owner with Punjab and Sind Bank, Standing Instruction is the most reliable repayment. Your EMI sum will be credited automatically near the end of the month to month period from the Punjab and Sind Bank record you register.
- Electronic Clearing Service (ECS): This method can be employed if you have a non-Punjab and Sind Bank account and might need your EMIs to be charged consequently near the end of the month to month cycle from this account.
- Post-Dated Checks (PDC): You can offer post-dated EMI checks from a non-Punjab and Sind Bank account at your nearest Punjab and Sind Bank Loan branches. A new method of PDCs should be presented on time. It will be perfect if you see Post Dated Checks will be gathered in non-ECS areas as it were.
Punjab and Sind Bank (PSB) Gold Loan Contact Number
You can use this amount of Gold Loan to fulfil your personal needs. An individual need can be anything, whether related to a wedding or education. Punjab and Sind Bank Gold Loan can be linked to your business or agricultural activities. Bank doesn’t put any restrictions on the use of the loan amount.
You just need to give a call on 9878981144 to avail of the best deals and offers on Punjab and Sind Bank Gold Loan.
Gold Ornaments Accepted By Punjab and Sind Bank (PSB)
- Bank accepts only gold of 18 carats to 22 carats.
- The bank accepts gold jewellery and gold coins weigh less than 50 grams.
- That minted coins are not accepted.
- The applicant should have a minimum of 10 grams of gold to get a gold loan.
Use Of Punjab and Sind Bank (PSB) Gold Loan
The funds acquired by availing the Punjab and Sind Bank Gold Loan service can be used for several purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
- For all your business needs, such as buying raw material, expansion of business, etc.
- You can also avail of a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
Punjab and Sind Bank Agricultural Jewel Loan Scheme
| Scheme | Punjab and Sind Bank Agricultural Jewel Loan Scheme |
| Interest Rate | Starting from 7.25% per annum (depends on the sum of the loan |
| Least amount of Loan | Depends on the value of the jewel which is being kept as security |
| Loan period | Adjustment of advance sum inside 2 months from the date of reap of yields |
Benefits Of Punjab and Sind Bank Agricultural Jewel Loan Scheme
- Punjab and Sind Bank charges a processing fee of up to ₹ 500.
- Minimum of ₹ 300 charge, that is 0.30% of the loan amount, applies to the amount ranging from above ₹ 20,000 – less than ₹ 20 lakh.
- 0.28% of the credit sum, subject to at least Rs.1,500 applies to the amount more than Rs.5 lakh however under Rs.1 crore.
Punjab and Sind Bank Gold Loan Overdraft Scheme
Punjab and Sind Bank offers an Overdraft Scheme. With this, the loan amount is provided as an overdraft facility. It functions as a Credit Card, where you can spend your Gold Loan Amount as per your wishes, anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Punjab and Sind Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
Punjab and Sind Bank Gold Loan Highlights
| Age | 18-75 years |
| Minimum Loan Amount | Rs. 25,001 |
| Maximum Loan Amount | Rs. 25 Lakh |
| Punjab and Sind Bank Gold Loan Interest Rate | 7.25% per annum onwards |
| Loan Tenure | From 3 months up to 36 months |
| Gold Items accepted | Jewellery and gold coins sold by banks |
| Punjab and Sind Bank Gold Loan Processing Charges | 0.23% of the loan amount |
How Does Punjab and Sind Gold Loan Work, Here’s An Example
The loan amount eligibility is decided on the basis of purity of gold, LTV, and weight of gold. Suppose Mr A and his two friends Mr B and Mr C own different amounts of gold with varying purity. Mr A has 50 grams of gold with a purity of 22 carats. Mr B has 60 grams of gold with a purity of 20 carats and Mr C has 70 grams of gold with purity or 22 carats. They approach Punjab and Sind Bank to avail themselves of a gold loan. The price applied to calculate their gold loan amount eligibility based on a maximum LTV of 85% will vary by the purity of gold and hence, will result in varying gold loan eligibility.
FAQs About Punjab and Sind Bank (PSB) Gold Loan
✅ What is Punjab and Sind Bank (PSB) Gold Loan?
Gold Loans are a secured loaning scheme that can be used for urgent monetary needs. Interest Rates in Punjab and Sind Bank starts from 7.25% per annum per annum for a minimum tenure of 6 months and a maximum of 12 months. The loan can be used for products as well as non-productive purposes.
✅ How Can I Get Gold Loan From Punjab and Sind Bank (PSB)?
You can get a Punjab and Sind Bank Gold Loan by going into the nearest branch with your gold and documents or through the online channel of Dialabank in few easy steps. You may also call on the number 9878981144 in case of any queries.
✅ How much Gold Loan Can I get per gram from Punjab and Sind Bank (PSB)?
Punjab and Sind Bank’s Gold Loan comes with attractive features and benefits. The Gold Loan per gram rate depends on the purity and market price of your gold. Currently, you can get ₹ 3,800 to ₹ 4,350.
✅ How Does Punjab and Sind Bank (PSB) Gold Loan work?
Gold Loans are your answer to urgent financial needs. You can take a Gold Loan from Punjab and Sind Bank by walking into your branch with your gold and documents. Once verified and valued, the loan amount will be transferred to your bank account. Your gold will be kept as collateral.
✅ What is the Gold Loan interest rate in Punjab and Sind Bank (PSB)?
Gold Loans from Punjab and Sind Bank starts from 7.25% per annum. The rates may vary depending on your credit history and your income.
✅ How to check gold loan status in Punjab and Sind Bank (PSB)?
You can check the status of your Gold Loan by contacting your Punjab and Sind Bank branch either in person or through the customer care number. You will have to provide the bank with your application details.
✅ How to calculate gold loan interest in Punjab and Sind Bank (PSB)?
Just subtract the principal loan amount from the final repayment amount and you will get the interest.
✅ What is the maximum gold loan amount I can avail of on a gold loan from Punjab and Sind Bank (PSB)?
Punjab and Sind bank allows you to avail of a gold loan amount up to 1 crore, provided you have income proof. You can avail of a loan amount of up to 70% of the value of your jewellery collateral.
✅ What is the loan tenure of the Punjab and Sind Bank (PSB) gold loan?
The repayment tenure can be chosen by you and can go up to 36 months. However, if you opt for bullet repayment or prepayment, your repayment tenure will reduce. You can also opt for renewal once your tenure is over.
✅ How much processing fee is applicable to the Punjab and Sind Bank (PSB) Gold loan?
The Punjab and Sind Bank bank charges a processing fee for its gold loan which is about 1% of the outstanding loan amount or Rs. 1000, whichever is higher.
✅ What are the charges for pre-payment in the Punjab and Sind Bank (PSB) gold loan?
The prepayment charges range from 0 to 1% of the loan amount. Prepayment helps you reduce the burden of your EMIs and thus avoid you from having any bad debts.
✅ How to renew Punjab and Sind Bank (PSB) Gold Loan online?
Visit your loan branch with all the loan documents and apply for a renewal with your banker. After revaluation of your gold and payment of any fee as applicable, your loan will be renewed for another term.
✅ How to pay Punjab and Sind Bank (PSB) Gold loan interest online?
You can pay for your monthly interest online by filling in your application details on the bank’s web portal or on its mobile app. You can pay through net banking or debit cards.
✅ What if I can’t pay the interest on the Punjab and Sind Bank (PSB) Gold loan for 3 months?
Defaulting your Gold Loan would lead to a decrease in credit score, making it difficult to avail of loans in the future. Also, the bank can auction off your gold to recover the money if there is continuous default. Bad debts will discourage banks from offering you loans.
✅ How can I apply for the EMI moratorium on the Punjab and Sind Bank (PSB) Gold loan?
The moratorium means a period wherein you don’t have to repay your loan. This can be applied in person or through the online portal of the bank. You can only do so 5 days before the due date of your EMI payment.
✅ How to pay the Punjab and Sind Bank (PSB) Gold loan through a credit card?
The Reserve Bank of India doesn’t allow loan repayment through credit cards. However, you have many other options such as debit cards, cash, cheques, DDs. PayTM also allows you to repay gold loans.
✅ What is the Overdraft Scheme for Punjab and Sind Bank Gold Loan?
Punjab and Sind Bank does provide an Overdraft Scheme and the overall loan amount will have a Credit/Loan Limit. In Punjab and Sind Bank Gold Loan Overdraft facility, the bank charges interest only on the amount that you will withdraw/utilize.
✅ What is the Punjab and Sind Bank Gold Loan closure procedure?
Once the loan is paid, the bank will close your gold loan immediately.
✅ What is the Punjab and Sind Bank customer care number?
The customer care number for Punjab and Sind Bank is 9878981144.
✅ What is Punjab and Sind Bank Gold Loan Preclosure charges?
The preclosure charges are decided by the bank from time to time.
✅What is the maximum gold loan tenure?
The maximum tenure of Punjab and Sind Bank Gold Loan is up to 36 months.
✅ What is the minimum gold loan tenure?
The minimum tenure of Punjab and Sind Bank Gold Loan is 12 months.
✅ What are the foreclosure charges of the Punjab and Sind Bank Gold Loan?
The bank decides the foreclosure charges from time to time.
