FAQs - GalaxyCard Next

What is GalaxyCard Next?

GalaxyCard Next is a P2P investment that is running in partnership with an RBI-regulated P2P NBFC which allows select members to get returns up to 15% per annum by lending their money to approved GalaxyCard borrowers.

Why invest in GalaxyCard Next?

GalaxyCard Next provides a better alternative investment option that gives much higher returns than the savings account, Fixed Deposits and PPF. We provide better returns to multiply your money much faster than the money kept in your savings account or investing in fixed deposits or PPFs which offer returns as low as 3-6% per annum.

How does GalaxyCard Next work?

The money invested by the members is lent to borrowers selected by GalaxyCard through a machine learning-based approval process. The interest paid by the borrowers is shared with the investors to provide the investors up to 15% returns on their investment per annum.

How does GalaxyCard Next make money?

GalaxyCard Next makes money only when you do. GalaxyCard Next takes the excess of interest, if any, from the interest paid by the customers and after accounting for the loss due to defaults.

What are the risks? How is the risk managed?

As with any investment, there are some risks. Even Fixed Deposits come with risks. GalaxyCard Next uses a machine learning process to weed out customers with the likelihood of defaults. Your investments are diversified across multiple borrowers to minimize the risk of default from a smaller set of customers. GalaxyCard Next also helps with recoveries from defaulters up to the extent allowed by the RBI and the law. If a borrower ends up defaulting even after the recovery process is initiated, P2P NBFC and GalaxyCard Next will earn no income till you get your indicated return back.

Are the 15% returns assured?

While GalaxyCard Next cannot guarantee fixed 15% returns, our portfolio performance over the last 2 years gives us statistical confidence in our underwriting and recovery process. We leverage this to calculate the interest rates to be charged to the borrowers to recover any losses that may arise due to defaults, while still ensuring up to 15% returns per annum for the lenders.

How to withdraw your investment?

There is a lock-in period linked with every investment, however it comes with the flexibility to withdraw before your lock-in commitment. In case of withdrawals before lock-in period will reduce the interest rate by 3%.

Withdrawal withing first month of investment date will be charged an exit load of 1% along with reduced interest by 3%. Interest payout will be given at time of withdrawal or lock in completion, whichever is earlier.

For any withdrawal request just write us on next@galaxycard.in and we’ll process it within 48-72 working hours.