About Punjab Gramin Bank Gold Loan
Punjab Gramin Bank (PGB) is sponsored by Punjab National Bank (PNB) a pioneer banking institution in the country. PGB has come into existence after the amalgamation of three RRBs, i.e., Punjab Gramin Bank, Malwa Gramin Bank, and Sutlej Gramin Bank. Punjab Gramin Bank has most of its branches in rural areas is playing a significant role in the uplifting living standard of rural people by providing various types of deposits and loan schemes and is committed for inclusive growth.
PGB is Committed to Rural Development. The bank is presently having its operations in more than 400 branches across 22 districts of Punjab and is operating on fundamentally sound and robust banking operations. The bank provides financial services to people like personal loan, Gold Loan, and Loan against property and many more.
Punjab Gramin Bank Gold Loan Interest Rate
In general Loan on Gold, the credit is available at a low-interest rate. Moreover, the reason behind that the gold loan comes in the category of secured loans. So the Gold interest rates are less than that of personal loan or any other kind of loans. Though the Gold loan rate keeps on changing with the passage of time as well as person to person. Punjab Gramin Bank Gold Loan is available at 1% per month interest rate.
- Punjab Gramin Bank Gold Loan Interest rate – 10.70 %
- Offer low processing fee – 0.85%
- Pre-closer charges range from 0 – 2 %.
- Tenure minimum six months; maximum five year
- Amount – Thousand to a crore
Punjab Gramin Bank Gold Loan Advantages
- Safety of Gold – The security of your Gold Ornament is more in banks due to the proper security systems, unlike our homes.
- Fast Process – Punjab Gramin Bank Gold Loan is a type of secured loan. Therefore, you can get your gold loan processed in as quick as 30 minutes
- Overdraft Facility – The applicant has the option of overdraft facility that allows the applicant to enjoy cash flow anytime as per the needs.
- Low-Interest Rates – Another feature is the rate of interest is very less in comparison to other services provided by the banks and NBFC’s
- No Processing Charges – Surprisingly, the bank does not charge any extra cost for applying for a Gold Loan.
- Less Documentation Process – The formalities that are to be complete are very less due to the type of service this is.
- Flexible Tenure – Last but not least, the applicant can choose the tenure depending upon the need in Punjab Gramin Bank Gold Loan
Punjab Gramin Bank Eligibility
- The age of the applicant should lie between 18 years to 70 years.
- The applicant should be a citizen of India.
- The quality of gold should be from 18 Carat to 22 Carat to get a loan.
- Another equally essential criteria are the weight of gold which should be more than 10 grams.
- Anyone can apply for a Gold Loan whether you are a salaried applicant or self-employed.
- To avail a Gold Loan on agriculture land, one has to submit the land proof to the bank.
Punjab Gramin Bank Gold Loan Documentation
- An Identity Proof is required. It can be an Aadhar Card/ Voter ID card/ PAN Card/Driving License/ passport.
- One proof of residence is also required while applying for a gold loan; it can also be an Aadhar Card/ Card/ Voter ID card/ PAN Card/Driving License/ passport/Ration Card/Electricity/water bills of last three months with the name of the applicant.
- Two colored photographs.
Punjab Gramin Bank Gold Loan Process
- The bank checks the purity of the gold.
- The bank verifies the market rate for gold and the price of the previous day is take into consideration
- The LTV (Loan to Value) set by the RBI is 75%.
- If you have acknowledged the Gold loan amount and terms, the lender processes the application. The processing fees & other charges deducted from your Gold loan amount.
- After signing the agreement, the loan amount is disbursed to your account.
FAQ’s About Punjab Gramin Bank Gold Loan
Q. How much Gold Loan can I get per gram in Punjab Gramin Bank?
The per gram Gold Loan amount in Muthoot Finance varies according to the purity of your pledged gold and current market gold rates. On average, this loan amount starts at ₹1970 for 1 gram of gold.
Q. What is Punjab Gramin Bank Gold Loan?
Gold Loans is the answer to all your urgent financial needs. You can avail of Gold Loans from Punjab Gramin Bank at attractive interest rates. All you need to do is bring your gold for valuation in the nearest branch and upon agreement of loan terms, the amount will be given to you.
Q. What is the Gold Loan interest rate in Punjab Gramin Bank?
Rate of Interest charged by the bank on Gold Loan depends upon the amount of the loan that is to be borrowed and is less than the rate charged on personal or home loan as it is a fully secured form of the loan The bank also charges low processing fees and no documentation charges.
Q. How to pay Punjab Gramin Bank Gold Loan online?
You can easily pay your Gold Loan with Punjab Gramin Bank through Standing Instructions on your account for automatic deductions in the form of EMIs. For further information, visit the nearest branch of the bank providing the Gold Loan service.
Q. How to apply Gold Loan in Punjab Gramin Bank?
You can apply for a Gold Loan in Punjab Gramin Bank by visiting the nearest branch with your gold ornaments. Karnataka Bank Gold Loan is a quick disbursing loan scheme that helps you finance all your expenses. You can also apply through Dialabank’s digital platform to avail of the best offers.
Q. How to renew Punjab Gramin Bank Gold Loan online?
You can renew your gold loan by visiting the branch and contacting the loan officer in charge of your file for further details on this matter. You can also call the customer care executive on their toll-free helpline number.
Q. How to take Gold Loan from Punjab Gramin Bank?
To take a Gold Loan from Punjab Gramin Bank you will be required to visit the nearest bank branch with your gold and some basic documents. You can also apply online with Dialabank and compare the Gold Loan offers from different banks and finance companies. Dialabank assists you through the entire loan process.
Q. What is Gold Loan in Punjab Gramin Bank?
Punjab Gramin Bank provides loans against gold as security for fulfilling the urgent requirement of funds of the borrowers. The bank gives loans at competitive interest rates and can be used for personal or business use. The bank gives easy repayment options and a renewal facility on the loan as well.
Q. How to get Punjab Gramin Bank Gold Loan?
Get a Gold Loan from Punjab Gramin Bank by simply filling and submitting an application form at the nearest branch. You can also fill an inquiry form at Dialabank and compare offers from different banks and financial companies.
Q. How to check Punjab Gramin Bank Gold Loan status?
You can check the status by emailing the bank’s executive and asking them about your application or by visiting the branch and meeting the loan officer. In most cases, the disbursal of the amount is done on the same day of the approval of the application.
Q. How to close Punjab Gramin Bank Gold Loan?
Closure of the loan takes place once you have paid the total amount that was due for your loan. The bank releases the gold after realizing the value completely and also gives you a No Dues Certificate.
Q. How to renew Punjab Gramin Bank Gold Loan?
Renewal can be done by visiting the branch with all the loan related documents and getting the previously pledged gold revalued. The bank will then decide your new loan terms and renew your loan.
Q. What happens if someone defaults Punjab Gramin Bank Gold Loan?
If someone fails to pay the amount due for the loan on or before the due date, the bank charges a penal fee and if these defaults are continuous the bank has the right to publically auction your gold to recover the amount.
Q. How many branches of Punjab Gramin Bank Gold Loan?
Punjab Gramin Bank has a wide network of branches in the state of Punjab.
Table of Contents
- 1 About Punjab Gramin Bank Gold Loan
- 2 Punjab Gramin Bank Gold Loan Interest Rate
- 3 Punjab Gramin Bank Gold Loan Advantages
- 4 Punjab Gramin Bank Eligibility
- 5 Punjab Gramin Bank Gold Loan Documentation
- 6 Punjab Gramin Bank Gold Loan Process
- 7 FAQ’s About Punjab Gramin Bank Gold Loan
- 7.1 Q. How much Gold Loan can I get per gram in Punjab Gramin Bank?
- 7.2 Q. What is Punjab Gramin Bank Gold Loan?
- 7.3 Q. What is the Gold Loan interest rate in Punjab Gramin Bank?
- 7.4 Q. How to pay Punjab Gramin Bank Gold Loan online?
- 7.5 Q. How to apply Gold Loan in Punjab Gramin Bank?
- 7.6 Q. How to renew Punjab Gramin Bank Gold Loan online?
- 7.7 Q. How to take Gold Loan from Punjab Gramin Bank?
- 7.8 Q. What is Gold Loan in Punjab Gramin Bank?
- 7.9 Q. How to get Punjab Gramin Bank Gold Loan?
- 7.10 Q. How to check Punjab Gramin Bank Gold Loan status?
- 7.11 Q. How to close Punjab Gramin Bank Gold Loan?
- 7.12 Q. How to renew Punjab Gramin Bank Gold Loan?
- 7.13 Q. What happens if someone defaults Punjab Gramin Bank Gold Loan?
- 7.14 Q. How many branches of Punjab Gramin Bank Gold Loan?