Punjab Gramin Bank Gold Loan Approval Process


I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Punjab Gramin Bank Gold Loan Approval Process

Punjab Gramin Bank Gold Loan Features

Punjab Gramin Bank Gold Loan Approval Process

Punjab Gramin Bank (PGB) is sponsored by Punjab National Bank (PNB), which is a pioneer banking institution in the country. The bank provides financial services and products to customers like personal loans, gold loans, loans against property and many more. In general, gold loan credit is available at a relatively much lower interest rate. Moreover, the reason behind this is that the gold loan comes in the category of secured loans. Gold loans can be availed of to fulfil any kind of financial requirements. There are no restrictions applicable on how you wish to spend the loan amount granted to you.

You can visit Dialabank for more information about gold loans.

Punjab Gramin Bank Gold Loan Eligibility

Minimum and Maximum Age
21 Yrs – 60 Yrs
Note: However, many banks require a minimum age of 23 years
Loan Amount
Up to ₹ 2 Cr. Some banks restrict maximum eligibility to ₹ 20 Lakh
Interest rates are lower for a higher loan amount
Employment Type
Salaried and self-employed both are eligible
Businessmen are increasingly taking gold loans to meet their working capital requirements.
In fact, housewives, senior citizens who are not eligible for other loans because they have no income proofs can easily avail of gold loans.
Quality of Gold
Gold ornaments should range in between 18 to 24 Carats
An average gold price of 22-carat gold for the preceding 30 days is adjusted down for purity. So, the price of 20 Carat jewellery can be estimated by multiplying the price of 22 Carat jewellery by a factor of 20/22
Banks do not check CIBIL score for granting a gold loan
However, your repayment track record for a gold loan is counted towards your CIBIL score and hence, can be instrumental in building your CIBIL score
Gold ornaments that can be used for availing loan
Gold bars and coins
Gold with 18-24 carat purity
Employment track record and income proofs
Banks do not check your job stability or business stability to sanction you a gold loan. Gold loans are granted without income proofs. You only need to submit your basic KYC documents such as address proof, identity proof, and an Aadhaar card to avail of this loan.

Punjab Gramin Bank Gold Loan Documents Required

At the time of application the following documents are required:

  • Proof of the citizenship of India
  • Duly filled application form
  • 2 passport-sized photographs
  • Applicant’s KYC documents to establish Identity and Address
  • Salary/ Income Proof
  • Witness Letter in case of illiterate borrowers
  • In the case of Agriculture Loan of more than Rs. 1 lac, land proof
  • Certificate by the Jewel Appraiser (Bank will arrange)

At the time of disbursement the following documents are required:

  • Demand Promissory Note & Demand Promissory Note Take Delivery Letter
  • Gold Ornaments Take Delivery Letter
  • Arrangement Letter

Punjab Gramin Bank Gold Loan Approval Process

Punjab Gramin Bank Gold Loan Approval Process is mostly carried out offline. You can follow these steps to avail of a gold loan:

  • You can visit any branch of the bank.
  • Fill up the gold loan application form.
  • Have your eligibility confirmed and gold ornaments valued.
  • Discuss the terms of the loan with the bank representatives.
  • Your loan will then be approved.

If you wish to avail of a Punjab Gramin Bank Gold Loan online, you can visit Dialabank for the best service.

FAQs on Punjab Gramin Bank Gold Loan Approval Process

How much Gold Loan can I get per gram in Punjab Gramin Bank?

The Punjab Gramin Bank Gold Loan per gram amount varies according to the purity of the pledged gold and current market gold rates. On average, this loan amount starts at ₹2500 for 1 gram of gold.

✅ What is the service charge and processing fee for a gold loan?

The service charge for gold loans in Punjab Gramin Bank is variable upon the scheme and the processing fee for the loans is 0.85% of the loan amount.

✅ What is the Punjab Gramin Bank Gold Loan preclosure charge?

The Punjab Gramin Bank preclosure charge is up to 2% of principal outstanding if done before three months. No preclosure charges are applicable after three months.