If you need money and you have gold, then there is no need to go to the bank now. Punjab National Bank's (PNB) Digital Gold Loan allows you to take a loan on gold from the comfort of your home. You can take this loan very easily through mobile or internet banking. This is especially good for those who want to arrange money quickly and safely. This loan can be an excellent option for farmers, small traders, or those who need money immediately for some important expense.
There are many loan options available in the market, but choosing the right option can sometimes be difficult. But now you don't need to worry, because PNB's Digital Gold Loan is a great and convenient solution for you. The gold lying with you can now help you!
What is Digital Gold?
Digital gold means gold that you can buy on an online platform, but you do not have that gold in physical form. In return, you get a digital receipt or certificate which confirms the quantity or value of gold you have purchased.
When you buy digital gold, the gold you have purchased is kept in a secure vault or locker, and you have legal rights over it. You can sell it in the future or if you want, you can also order delivery in physical form (like coin or biscuit).
Eligibility For PNB Digital Gold Loan
The eligibility for taking a digital gold loan from PNB is as follows –
- Must be an Indian citizen
- Age should be 18 years or above
- You must have pure gold (jewellery)
- It is necessary to have a bank account
- Mobile or internet banking should be active
- Have the ability to repay the loan
Documents Required For PNB Digital Gold Loan
- Identity proof: Aadhaar card, PAN card, or voter ID.
- Address proof: Electricity bill, water bill, or ration card.
- Income proof: Income certificate, if required.
- Gold jewellery details: Document certifying the weight and carat of your gold.
Interest & Fees For PNB Digital Gold Loan
- Interest rate: Starting from 9.25% per annum
- Processing fee: 0.30% of the loan amount or ₹500 (whichever is higher) + GST
- Document fee: No
- Prepayment fee: No
- Renewal fee: Usually any gold loan is for 11 months only, So after that you have to pay renewal fee again
- GST: 18% GST has to be paid on all expenses,
Benefits Of PNB Digital Gold Loan
- Fast and easy process: Application for this loan can be done online, so you do not need to go to the bank branch.
- Low interest rate: Low interest rates are available on PNB Digital Gold Loan, making this loan affordable.
- Safe and reliable: PNB is a leading and trusted bank, so your gold remains safe.
- Flexible payment: You get flexible options to repay the loan.
- Return of gold: After repaying the loan, your gold is returned.
How to Apply for PNB Digital Gold Loan
Applying for PNB Digital Gold Loan is very easy. You can apply online by following the following steps:
- First of all, go to the official website of PNB website or app
- Click on the Digital Gold Loan option available on the website.
- Fill in your details and upload the required documents.
- Provide the weight and carat of your gold jewellery.
- After the application process is complete, the bank will evaluate the value of your gold and approve the loan.
- Once the loan is approved, the amount will be transferred to your account.
Conclusion
If you are looking for a reliable gold loan, PNB Digital Gold Loan is a great option for those who need money immediately. There is no need to go to the bank and the process is easy. The interest rate is also reasonable. It is a safe, fast and reliable way to get a loan against gold. If you have any question regarding this post, then you can tell us by commenting in the comment box given below. Your feedback and suggestions are welcome as always. Thank you.
