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| PURPOSE | NON-AGRI (RETAIL) GOLD LOAN: Advance be granted against the security of gold Jewellery/ ornaments for personal needs and for non-agricultural purposes only (meeting medical, educational, marriage expenses and other unforeseen expenses etc.). PNB SWARNIM (AGRI. GOLD LOAN): To meet the short-term production / investment credit for: Crop production/ allied agriculture activities. Acquiring farm machinery, irrigation equipment, taking up horticulture activity, transport vehicle for transporting of agri. produce etc. Repayment of loans availed from non-institutional lenders. All other agriculture activities which are permitted to be classified under agriculture as per RBI/GOI/NABARD guidelines. |
| Eligibility | NON-AGRI (RETAIL) GOLD LOAN: An individual person resident of India PNB SWARNIM (AGRI. GOLD LOAN): All farmers; Individuals/ Agri. entrepreneurs including Tenant farmers, Oral lessees and Sharecroppers. Any person engaged in any agriculture or allied activities as well as persons engaged in activities permitted by RBI to be classified under agriculture. |
| QUANTUM OF FINANCE | NON-AGRI (RETAIL) GOLD LOAN: Min. Amount of Loan – Rs. 0.25 lakh Max. Amount of Loan – Rs.25.00 lakh PNB SWARNIM (AGRI. GOLD LOAN): Min. Amount of Loan – Rs. 10000/- Max. Amount of Loan – Rs.25.00 lakh |
| NATURE OF FACILITY | NON-AGRI (RETAIL) GOLD LOAN: The repayment period for the Demand Loan with Bullet Repayment is a maximum of 12 months. For the Demand Loan on an EMI basis, the maximum repayment period is 36 months. The Overdraft facility is sanctioned for a period of 12 months only and is subject to annual review. PNB SWARNIM (AGRI. GOLD LOAN): The Demand Loan with Bullet Repayment will be sanctioned for a maximum tenor of 12 months. In the case of a Demand Loan on an EMI basis, the loan will be sanctioned for a maximum tenor of 36 months, with repayment made on a monthly basis. The Overdraft facility will be sanctioned for a period of 12 months only and will be subject to annual renewal. |
| SECURITY | NON-AGRI (RETAIL) GOLD LOAN: Pledge of Gold Jewellery/ ornaments. PNB SWARNIM (AGRI. GOLD LOAN): Pledge of Gold Jewellery / Ornaments / Coins. No loan to be sanctioned against bullion, primary/ smuggled gold. In case of ornaments with jewel fittings, infilling, net weight as certified by assessor shall be considered for determination of quantum of loan. |
| MARGIN | NON-AGRI (RETAIL) GOLD LOAN: DL-Bullet 32% TL- EMI 28% OD 28% PNB SWARNIM (AGRI. GOLD LOAN): 15 % |
| RATE OF INTEREST | PNB SWARNIM (AGRI. GOLD LOAN): The rate of interest for Demand Loan, Demand Loan (EMI), and Overdraft is RLLR + 0.50% for loans up to ₹2.5 lakh and RLLR + 0.75% for loans above ₹2.5 lakh. NON-AGRI (RETAIL) GOLD LOAN: The rate of interest for Demand Loan, Demand Loan (EMI), and Overdraft is RLLR + 0.85% for loans up to ₹10 lakh and RLLR + 0.90% for loans above ₹10 lakh. |
| CHARGES | NON-AGRI (RETAIL) GOLD LOAN: Processing Fee/Upfront Fee- 0.30% of loan amount + GST or Rs. 500 + GST, whichever is higher. Documentation Charges- NIL Other Charges: CIC (CIBIL, Equifax etc.) charges as applicable (presently Rs 100 + GST.) Valuation Charges (Appraisal charges): – Applicable Gold Appraiser Fee should be borne by the customer. The valuer will be paid Rs. 5/- per thousand with minimum of Rs. 500/- and maximum Rs.1200/-. Re-appraisal Charges: – The appraiser will be paid Rs.150/- per pouch at the time of revaluation of Jewellery. Safe keeping charges: – Rs. 100/- per month or part thereof to be charged and to be recovered after the expiry of the prescribed tenure of gold Loan for every type of loan facility (Currently 12/36 months respectively) as Safe Keeping charges after closure of loan facility. PNB SWARNIM (AGRI. GOLD LOAN): The upfront fee is NIL for loans up to ₹50,000. For loans above ₹50,000 and up to ₹2.50 lakh, the upfront fee is ₹500 + GST. For loans above ₹2.50 lakh, the upfront fee is 0.25% of the loan amount + GST, subject to a maximum of ₹5,000 + GST. The documentation charges are NIL. |
| REPAYMENT | NON-AGRI (RETAIL) GOLD LOAN: The Demand Loan with Bullet Repayment has a maximum repayment period of 12 months. The Demand Loan on an EMI basis has a maximum repayment period of 36 months, with repayment through monthly EMIs. The Overdraft (OD) facility has a maximum repayment period of 36 months, subject to annual review. PNB SWARNIM (AGRI. GOLD LOAN): The Demand Loan with Bullet Repayment has a maximum tenor of 12 months, with payment of both interest and principal at maturity. The Demand Loan on an EMI basis has a maximum repayment period of 36 months, with regular servicing of interest and principal as and when levied. The Overdraft (OD) facility is sanctioned for a period of 12 months only, subject to annual renewal, with servicing of interest as and when due and levied. |
| DISBURSEMENT | NON-AGRI (RETAIL) GOLD LOAN: The disbursement of the Demand loan should be by way of credit in the Saving Bank / Current account of the borrower maintained with us or any other bank. PNB SWARNIM (AGRI. GOLD LOAN): No cash disbursement. The proceeds of the loan are to be credited to the Saving a/c or KCC a/c or saving account with other bank of the borrower. |
| Method of Valuation | Method of Determination of Net Weight / Purity of Gold Touch Stone Method Nitric Acid Test Method Specific Gravity Method |