can we buy gold on credit card in india?
Yes, you can buy gold using a credit card in India, but there are a few things to keep in mind:
General Purchase:
- Most jewellery stores accept credit cards as a form of payment. However, some may have minimum purchase limits for credit card transactions.
- Interest rates and charges: Be aware of the interest rates and charges associated with using your credit card for gold purchases. Some cards may have higher interest rates for purchases of precious metals, or they may charge additional fees.
- Reward points: Not all credit cards offer reward points on gold purchases. Check your card’s terms and conditions to see if you’ll earn any points on your gold purchase.
EMI Options:
- Some jewellers and credit card issuers offer EMI (equated monthly instalment) options for gold purchases. This can be a good way to spread out the cost of your purchase over time, but be sure to compare interest rates and fees before entering into an EMI agreement.
Additional Points:
- Cashback offers: Some credit cards offer cashback on jewellery purchases. This can be a good way to save some money on your gold purchase.
- Government regulations: The Indian government has implemented regulations on cash transactions for gold purchases. This means that you may need to provide your PAN card or Aadhaar card for purchases exceeding a certain amount.
