Goldmoney Maximizer Loans

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Canadian Goldmoney Personal and Business users who have Verified Accounts are eligible to borrow select currencies against their fully-reserved gold balance with the Goldmoney Maximizer loan tool. 

Goldmoney Maximizer is currently available to Canadian users residing in Alberta, British Columbia, Manitoba, Newfoundland and Labrador, Northwest Territories, Nunavut, Ontario, Prince Edward Island, and Yukon. We plan to extend the offering to additional provinces and countries globally in the future.

In accordance with our fully-reserved nature, no customer assets are used for lending activities. Loans are advanced to users by Goldmoney Inc. from our balance sheet and are not funded by client metal. 
Users can borrow up to 85% of their settled gold balance value in the Toronto Vault to purchase more gold in the Toronto Vault or load selected currencies to their Goldmoney Mastercard. Gold purchase loans are available in the following currencies: USD, GBP, EUR, CHF, and CAD. Standard limits and fees apply when loading your Goldmoney Mastercard, which are currently offered in the following currencies: USD, EUR, GBP, and CHF. Users may only select card loads in currencies that correspond with cards connected to their account.

A maximum of two loans per account can be outstanding at any given time - one Goldmoney Mastercard loan and one gold purchase loan. Please note that the standard 0.5% transaction fee will apply for each gold purchase loan or Goldmoney Mastercard loan. The gold amount against which you have borrowed will be held in reserve until the loan is paid off. 

Maximizer loans are interest-free for the first 30 days of the loan, after which the rate of 12% per annum (1% monthly) shall be applied to the outstanding loan balance with interest accruing daily. Your credit score is not impacted by Goldmoney Maximizer loans.

You can repay loans in full or incrementally at any time with your available balance of gold stored in the Toronto Vault by selecting the “More” option next to the loan in your Dashboard. Please note that the standard 0.5% transaction fee will apply for each repayment transaction. Once the principal loan amount has been paid off, any accrued interest will be automatically deducted from your Toronto vault. 

If your Loan Balance exceeds 90% of the fiat value of your total vault balance (this includes the principal loan amount, accrued interest, and the remaining balance of gold held in the Toronto vault), the loan will automatically close out and the required amount of gold will be sold from your account to repay the corresponding fiat value of the loan and any accrued interest. This limit ensures that the amount you owe will never be greater than your presently owned gold balance. 

You can easily monitor how close you are to reaching the limit using the Loan Limit gauge displayed with your loan. You will also be sent monthly statements noting your original loan amount and your current balance owed (including interest) via email.

You can click here to learn how to make a gold purchase using a Maximizer loan, or here to learn how to load your Goldmoney Mastercard with a Maximizer loan.

Please note: Any borrowing activity carries with it risks. Though the Goldmoney Maximizer loan product is a fully secured loan extended from Goldmoney Inc. equity to customers that have settled gold and to a threshold that leaves a safety cushion against reserved gold, we still advocate to our valued customers to tread carefully with loans.
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