Everyone keeps gold as an asset, as an investment, for a rainy day. When the rainy day arrives, they either sell it altogether, or some try the much better option: opting for a gold loan. In the high-interest environment of 2026, where gold reigns popular over all the investments, the cost of borrowing is a critical factor for every household. While private banks and NBFCs offer speed, Public Sector Undertakings (PSUs) like Punjab National Bank (PNB) offer affordability, something that could be a lot better for most.
With gold prices stabilising at record highs this February, the borrowing power of your jewellery has never been stronger.
Current Gold Price (22K): ~₹14,950 per gram
For borrowers who prioritise lower interest rates over instant gratification, the PNB Gold Loan is a financial fortress. Whether you are looking to fund a business expansion or cover a medical emergency, PNB leverages its massive deposit base to offer some of the lowest lending rates in the market.
Read on to learn more about the PNB gold loan rate per gram today, the specific benefits of their digital lending platform, and how the 2026 economic shifts have made their Sovereign Gold Bond (SGB) advances a strategic tool.
PNB Gold Loan Rate Per Gram 2026
The pnb gold loan per gram is determined by the daily market value of gold and the Loan-to-Value (LTV) cap set by the RBI (typically 75%). PNB is known for offering high LTVs to eligible customers, maximising the cash you can extract from your ornaments.
Based on the market rates of February 13, 2026, here is the estimated valuation:
| Gold Purity | Market Price (Est. / Gram) | PNB Loan Per Gram (Est.) |
| 22 Carat (Standard) | ₹14,920 | ₹11,185 – ₹11,195 |
| 20 Carat | ₹13,560 | ₹10,170 – ₹10,180 |
| 18 Carat | ₹12,210 | ₹9,155 – ₹9,165 |
Note: The PNB gold loan per gram is calculated on the net weight of the gold. Stones, lac, and other non-gold attachments are excluded from the valuation.
Why PNB Stands Out in 2026
The financial landscape of 2026 has introduced new variables that make PNB’s offerings particularly relevant.
1. Advantage of the SGB Advance
The Union Budget 2026 altered the tax landscape for Sovereign Gold Bonds, making secondary market sales taxable. PNB has a dedicated scheme for Advance against Sovereign Gold Bond.
The Strategy: Instead of selling your SGBs and paying tax, you can pledge them with PNB. Since SGBs are government securities, PNB offers highly competitive rates and a seamless lien marking process, allowing you to retain ownership and the 2.5% interest income while accessing liquidity.
2. Digital Gold Loan Integration
PNB has aggressively modernised its infrastructure. The PNB Digital Gold Loan facility allows customers to initiate the process via the PNB One app or corporate website. This hybrid model digital application plus quick branch verification reduces the turnaround time significantly compared to the traditional PSU banking experience.
Also Read: Loan Against Gold
PNB Gold Loan Interest Rates and Charges
The primary reason to choose a PNB Gold Loan is the interest rate. PNB links its rates to the Repo Linked Lending Rate (RLLR) or Marginal Cost of Funds Based Lending Rate (MCLR), ensuring transparency.
1. Interest Rates (2026 Estimates)
- Retail Gold Loan: Rates typically range from 8.75% to 9.50% p.a., which is significantly lower than the 11-15% charged by private competitors.
- Agriculture Gold Loan: For farmers, rates can start as low as 7.00% p.a. (subject to government subvention norms).
2. Processing Fees
- PNB is known for minimal charges.
- Fee Structure: Usually ranges from 0.50% to 0.75% of the loan amount, with a cap on the maximum fee. During festive campaigns, PNB often waives these fees entirely.
3. Margin
PNB maintains a margin of approximately 25%. This means if your gold is worth ₹1 Lakh, the bank will lend you up to ₹75,000, keeping the remaining value as a buffer against price fluctuations.
Also Read: Gold Deposit Schemes
Types of PNB Gold Loan Schemes
PNB offers specialised products catering to different borrower needs:
- Loan Against Gold Jewellery: The standard scheme for personal needs (education, marriage, medical). Repayment can be structured as EMIs or a bullet payment at maturity.
- Advance against Sovereign Gold Bond (SGB): A specialised facility where dematerialised or physical SGB certificates are used as collateral. This is ideal for investors who want to monetise their paper gold without liquidating it.
- Agriculture Gold Loan: Designed for short-term crop production or investment credit for allied activities. This scheme often carries the lowest pnb gold loan per gram today, interest burden due to priority sector lending status.
Budget 2026 and Effect on Gold Loans
The Union Budget 2026 has fundamentally altered how Indian households view their assets. While the focus was on ‘Viksit Bharat’, the fine print regarding capital gains has made PNB Gold Loans a strategic financial tool rather than just a distress option.
1. Liquidity Without Tax Liability
The 2026 Budget introduced stricter capital gains taxation on various asset classes. Selling assets (like mutual funds or secondary market SGBs) to raise cash now triggers a tax event, reducing your net-in-hand amount.
The PNB Advantage: Taking a gold loan is not a sale; it is a pledge. Therefore, it triggers zero capital gains tax. You get the liquidity you need without losing a chunk of your wealth to the exchequer, making it the most tax-efficient way to raise short-term capital in 2026.
2. The SGB ‘Lock-in’ Restrictions
With the new tax rules removing exemptions for Sovereign Gold Bonds (SGBs) sold before maturity in secondary markets, investors are ‘locked in’ if they want to save tax.
The Solution: PNB’s Loan against SGB facility allows you to monetise these bonds without selling them. You retain the bond ownership (and the 2.5% interest income it generates) while accessing cash at a low interest rate, effectively bypassing the liquidity crunch caused by the new tax regime.
3. High Prices = Higher Leverage
The budget’s focus on infrastructure and digital currency has kept the Rupee under pressure, indirectly supporting domestic gold prices (~₹14,950/g).
Impact: This high valuation means your existing jewellery now commands a much higher loan sanction from PNB compared to last year. You can unlock significant capital by pledging minimal ornaments, keeping the bulk of your family heirlooms unencumbered.
PNB Gold Loan Eligibility and Documentation
To access the pnb gold loan per gram today, the criteria are straightforward:
- Applicant: Individuals (Salaried/Self-employed), Farmers, and Proprietorships.
- Age: 18 years to 70 years.
- Asset: Gold ornaments of 18K-24K purity or SGBs issued by the Government of India.
- Documents:
- ID Proof: Aadhaar/PAN/Passport.
- Address Proof: Utility Bill/Voter ID.
- Agriculture Proof: Land records (only for Agri loans).
- Photos: Two recent passport-sized photographs.
How to Apply for PNB Gold Loan
PNB has streamlined its process to compete with private players.
Step 1: Digital Initiation
Log in to the PNB One App or visit the PNB website under the “Digital Gold Loan” section. Fill in your details and the estimated weight of gold to get a provisional sanction.
Step 2: Branch Visit
Visit your selected PNB branch with the gold and the provisional sanction reference.
Step 3: Valuation
The bank’s approved assayer will verify the purity and weight of the jewellery. For SGBs, the lien is marked in the depository system.
Step 4: Disbursal
Once the pledge is created, the loan amount is credited directly to your PNB savings or current account.
Also Read: SBI Gold Loan Rate Per Gram | BOB Gold Loan Rate per Gram | HDFC Gold Loan Rate per Gram
Conclusion
In February 2026, the PNB Gold Loan represents the most cost-effective method to monetise your household assets. With a per-gram rate hovering around ₹11,190 and interest rates starting below 9%, it offers a distinct financial advantage over NBFCs and private banks.
For the smart investor holding Sovereign Gold Bonds, PNB’s specific advance facility against SGBs is a tactical tool to manage liquidity without triggering the new tax liabilities introduced in the 2026 Budget. Whether digital or physical, PNB ensures your gold works for you at the lowest possible cost.
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