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Punjab National Bank’s sovereign gold schemes are designed to offer convenience and act as a reliable investment in gold. PNB offers special gold schemes that help to generate healthy returns on gold. Investors can purchase the yellow metal directly from the bank. PNB is one of the banks that have been authorized to issue Sovereign Gold Bond scheme. The gold scheme bonds are issued by the Reserve Bank of India (RBI) on behalf of the Government of India.
PNB gold scheme bonds are issued only at select branches of the bank, post offices and through agents. PNB also offers loans against gold schemes which is customized to enable investors to opt for a loan to meet their unique financial objectives.
About Punjab National Bank Gold Deposit Schemes
Some of the key features of sovereign gold bonds offered by PNB are as follows:
Benefits of PNB Sovereign gold bond 2015 are as follows:
Some of the key features of sovereign gold bond 2016 offered by PNB are as follows:
Key benefits of these bonds are as below:
The following documents are required to be furnished by investors as proof of identity while applying for a PNB loan. Both, original as well as the photocopy of documents have to be presented at the time of loan application.
1. What is Sovereign Gold Bond and who issues these?
SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank on behalf of the Government of India.
2.Are PNB Sovereign Gold Bonds available online?
No, Punjab National Bank does not allow online applications for gold loans. However, investors can make instalment payments through online mode.
3.Is there any risk associated with PNB Sovereign Gold Bonds?
There may be a risk of capital loss if the market price of gold declines. However, the investor does not lose in terms of the units of gold which he has paid for.
4.When will I be issued a Holding Certificate?
Certificate of Holding is issued on the date of issuance of the SGB. Certificate of Holding can be collected from the issuing banks/SHCIL offices/Post Offices/Designated stock exchanges/agents or obtained directly from RBI on email if the email address is provided in the application form.
5. What do I have to do if I want to exit my investment?
In case of premature redemption, investors can approach the concerned bank/SHCIL offices/Post Office/agent thirty days before the coupon payment date. Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date. The proceeds will be credited to the customer’s bank account provided at the time of applying for the bond.
Punjab National Bank’s sovereign gold bond is a convenient and reliable investment in gold. The bank offers special gold schemes that are designed to generate healthy returns on gold. Investors can buy the yellow metal from the bank directly.
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