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HomeKnowledge UtilityThere is also a credit card in which there is no annual...

There is also a credit card in which there is no annual and application charge, know other features of this card

Gold has to be pledged to take this card.

The interest free period for this card is 37-45 days. However, if the payment is not made on time, interest is also charged on it like a normal credit card. After the interest free period, the company charges an interest rate of 30 per cent annually i.e. 2.5 per cent monthly.

Recently Reserve Bank of India has introduced Credit Card (credit cardA new guideline has been issued regarding this. Still, the Reserve Bank has not allowed fintech companies to issue credit cards. However, credit cards can be launched with the help of tie-ups with banks. On the same lines, Fintech company Rupeek has launched a credit card which is a secured card. Usually all credit cards are unsecured due to which they charge very high interest rates. name of this card Rupeek Prime is kept. This can also be called gold card because it is issued only when you pledge gold with the company.

Rupeek’s credit card is a secured card. In this, the customer has to pledge the jewelery and gold. The credit card limit will be up to 75% of the value of your holding. The company has tied up with RBL Bank to issue credit cards. This card uses the domestic RuPay network. The maximum limit of this card has been given 50 lakh rupees.

The facility of this card in limited cities

At present, the facility of this card is available in limited cities of India. It is available in cities like- Hyderabad, Mumbai, Pune, Chennai, Kolkata, Jaipur, Rajkot, Vadodara, Chandigarh, Ahmedabad, Surat, Bangalore. The card can be used both online and offline. Online application facility is also available for this card. The card is available in both physical and virtual form.

No application fees and annual charges

Company’s Vice President Deepak Singhal said that people who work or have retired and own gold are liking this card. This card is used as an emergency fund. It works just like a credit card. There is no application fee for this card. Apart from this, there is no annual charge of any kind.

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The entire limit can be withdrawn as cash

The interest free period for this card is 37-45 days. However, if the payment is not made on time, interest is also charged on it like a normal credit card. After the interest free period, the company charges an interest rate of 30 per cent annually i.e. 2.5 per cent monthly. The special thing is that the credit card holder can also withdraw the entire limit in the form of cash. There is a processing fee of 1% for this. For other credit cards, this fee is very high.

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