Rupeek Gold Credit Card Against FD

Benefits of the Rupeek Gold FD Card

The major benefits of the Rupeek Gold Credit Card are:

1. Designed for Diverse Financial Profiles: Whether you are a salaried professional, self-employed individual, homemaker, retiree, or freelancer, the Gold FD Card ensures access to credit without the need for traditional income verification.
2. Financial Freedom for Small Business Owners: Secure working capital to purchase inventory, manage payroll, or invest in expansion. The Rupeek Gold FD Card provides a reliable cash flow solution, allowing businesses to thrive without disruptions.
3. Empowering Homemakers with Instant LiquidityManage household expenses, emergency needs, or personal financial goals with ease. Without requiring income proof, homemakers can access funds conveniently.
4. A Reliable Backup for Retirees: Convert gold assets into accessible funds without monthly income declarations. Retirees can use the Gold FD Card for healthcare needs, travel, or supporting family members.
5. A Financial Cushion for Freelancers: With irregular income streams, freelancers often struggle with traditional loans. The Gold FD Card offers a flexible credit line to manage expenses without rigid repayment schedules.
6. Credit-Building Tool for Young Professionals: Establish a strong credit history by using the Gold FD Card responsibly. This financial product helps young individuals gain financial literacy while enjoying access to credit.
7. Cost-Efficient Alternative to Personal Loans: With interest rates as low as 0.89%, the Rupeek Gold FD Card is a far more affordable option than traditional credit cards or personal loans, ensuring minimal financial strain.
8. Preserve Your Gold While Accessing Funds: Unlike selling gold, this card allows you to retain ownership of your asset. Repay the credit and reclaim your gold, preserving its long-term value.

Features of the Rupeek Gold FD Card

These are some of the important features of Rupeek Gold Credit Card:

1. Maximum Credit Limit Based on Gold’s Value: Get a credit limit equivalent to 75% of your pledged gold’s worth. For instance, if your gold is valued at Rs.10 lakhs, you can avail up to Rs.7.5 lakhs in credit.
2. Flexible Credit Scaling: Increase your available credit by pledging additional gold. This feature adapts to your financial needs, making it a scalable and reliable credit solution.
3. Zero-Interest Transactions for 45 Days: Enjoy an interest-free period of up to 45 days on transactions, making it a cost-effective solution for managing urgent expenses such as medical bills, home renovations, or festival shopping.
4. Seamless and Paperless Application: Skip the lengthy paperwork and income proof requirements. Simply provide Aadhaar and PAN for a quick and hassle-free approval process.
5. Secure Gold Storage with Full Transparency: Your gold is stored in high-security vaults, protected by seven-layer security protocols. The assets remain insured throughout the tenure, ensuring maximum safety.
6. Flexible Repayment Options: Choose between bullet repayments or interest-only payments to avoid rigid EMI structures. This feature allows you to manage repayments based on your financial convenience.

How to Apply for the Rupeek Gold FD Card

Applying for the Rupeek Gold FD Card is a simple and hassle-free process. Follow these steps to get started:

• Download the Rupeek App or Apply Online
  • Visit the Play Store or App Store and download the Rupeek app.
  • Register with your details and select the Gold FD Card option.
  • Alternatively, visit the Rupeek website and apply directly from your browser.
• Schedule an Appointment for Gold Appraisal
  • After submitting your application, a Rupeek loan manager will be assigned to assist you.
  • You will visit the bank with the loan manager for gold appraisal and KYC verification.
  • The process is quick, transparent, and requires minimal documentation.
• Complete KYC Verification
  • Provide basic KYC documents such as Aadhaar and PAN for verification.
  • No income proof or credit history is required, making the process simple and accessible.
• Get Instant Approval and Card Activation
  • Once your gold is appraised and verified, your application is processed for approval.
  • Upon approval, your Rupeek Gold FD Card is instantly activated as a virtual card.
  • You can start using your credit limit immediately for online transactions, purchases, and bank transfers.

How to Get Your Gold Back After Repayment

Follow the steps given below to get your gold back after repayment:

1. Step 1: Repay the Full Loan Amount - Make sure the entire outstanding balance is paid in full, including the principal, interest, and any applicable charges.
2. Step 2: Loan Closure Confirmation - After the final payment is processed, the lender will verify the transaction and officially close your loan account.
3. Step 3: Identity and Document Verification - You will be required to provide valid identification and supporting documents, such as your loan receipt or pledge certificate, for verification.
4. Step 4: Schedule a Collection Appointment (if needed) - Some lenders may require you to book an appointment to visit the storage facility or designated branch for gold collection.
5. Step 5: Visit the Storage Location - Go to the specified branch or secure facility with your documents to collect the pledged gold.
6. Step 6: Secure Gold Handover - After successful verification, your gold will be returned to you in a secure and supervised environment. There are no extra fees for reclaiming your gold, provided that all loan-related dues have been cleared.

How is my card limit calculated?

Your Rupeek Gold FD Card limit is determined by the value of the gold you pledge. Typically, you can access up to 75% of your gold’s market value as a credit limit. This makes it a flexible and powerful way to unlock funds without selling your gold. You can increase this limit anytime in the future by pledging additional gold, and your card limit will be updated accordingly. This flexibility allows you to scale your credit based on your evolving financial needs.

Example:

Let’s say you pledge gold jewellery weighing 100 grams with a purity of 22 karats.

1. If the current market price of 22 karat gold is Rs.5,500 per gram,the total market value of your gold would be: 100 grams × Rs.8,327 = Rs.8,32,700
2. With an LTV ratio of 75%, your eligible credit limit would be: 75% of Rs.8,32,700 = Rs.6,24,525

So, you will be able to use Rs.4,12,500 as a credit limit on your Rupeek Gold FD Card, without selling your gold.

The following factors play a role in calculating your card limit:

• Purity of Gold: Only gold jewellery with a purity of 18 karats or more is eligible. The purer the gold (for instance, 22 karats), the higher the valuation.
• Weight of the Jewellery: The heavier your gold, the more valuable it is, and the higher the credit limit you can receive.
• Market Rate of Gold: Rupeek uses the current market price of gold on the day of appraisal to assess the value.
• Net Gold Content: Only the gold portion is considered; stones or other decorative elements are excluded from the value.
• Loan-to-Value (LTV) Ratio: You are eligible for up to 75% of the calculated value of your gold. This LTV is set to ensure both financial safety and compliance with RBI guidelines.

Comparison: Rupeek Gold FD Card vs Traditional Credit Cards /Personal Loans

The table below compares the Rupeek Gold FD card with credit cards and personal loans:

Credit cards make payments easy for all expenses online and offline while offering various benefits

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