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Product Details
Name of Bank

Punjab National Bank

Maximum Loan Amount

INR 25 Lakhs

Interest Rate


Loan to Value Ratio


Maximum Loan Tenure

Upto 12 Months

Demand loan – Bullet repayment 
Demand Loan - EMI BASED 

Demand loan – Bullet repayment
Demand Loan - EMI BASED

Fees and Charges

Loan Processing Charges- Rs. 500 + GST
Prepayment Interest / Foreclosure Charges- and 2% of the outstanding loan amount.
Late Payment Penalty: Rs. 100 per day
Penal Interest- no info. available
Legal And Other Charges: Actual charges

Minimum CIBIL Score

Not required


A person resident of India, being  an individual in his capacity as  individual or on behalf of minor  child, or jointly with another  individual.  Trust, HUF, Charitable  Institutions and University.

Fees and Eligibility
Concession and Features
Special Concession


Special Features



The interest rates are typically lower than other types of loans. The loan amount is based on the value of your gold jewellery, so you can usually get a higher loan amount than with other types of loans. The repayment period is typically longer than other types of loans, so you have more time to repay the loan. You can get the loan quickly and easily, without having to go through a lot of paperwork.


You have to risk losing your gold jewellery if you are unable to repay the loan.

Pros & Cons
How to Open?

Application process: Visit any Punjab National Bank branch. Collect and fill out the application form. Attach the required documents. Submit the completed application form and documents to the bank official. The bank official will assess the gold jewellery/gold ornaments and determine the loan amount. Once the loan amount is finalized, the bank official will generate a loan agreement. Sign the loan agreement and receive the loan amount.

Documents Required

Documents required: Application form Two passport size photographs Proof of identity (Aadhaar card, Voter ID card, Passport, Driving License) Proof of address (Aadhaar card, Voter ID card, Passport, Driving License, Utility bills) PAN card (if applicable) Gold jewellery/gold ornaments to be pledged

Account Opening and Procedure
Indian Bank

Indian Bank Jewel loan provides two loan schemes
1. Bullet Repayment
2. Monthly Repayment
The interest rate varies from 8.65% to 9.00% which is moderate as compared to different banks offering gold loans. However, the LTV Ratio is low i.e., only 65-70%, the other banks in the market offer higher LTV Ratio on the gold loans. Therefore, before applying for such loan check the terms and conditions properly and compare different banks offering gold loans.

Abhijeet Saxena

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

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