FAQs
Index 🗂️
General 💼
Are my investments insured on Pluto Money?
Investments made through Pluto Money are subject to market risks and are not insured. It is essential for users to review the risk disclosures and understand the potential risks associated with different investment options.
Can I track the performance of my investments on Pluto Money?
Yes, Pluto Money provides a user-friendly dashboard where users can track the performance of their investments in real time. Users can view detailed reports and analytics to assess the progress of their portfolio.
Is Pluto Money available for international users?
As of now, Pluto Money is available for users within India. It may expand its services to other countries in the future.
What types of financial services does Pluto Money offer?
Pluto Money offers a range of financial services including one-time investments and SIPs. Users can choose between different investment options such as digital gold, digital silver, Pluto Plus, and Pluto Fixed. Additionally, Pluto Money provides tools for tracking investment performance and making informed decisions.
How can I create an account on Pluto Money?
Creating an account on Pluto Money is simple. Users can download the Pluto Money app from the app store, sign up with their email or phone number, and follow the guided steps to complete the registration process.
Is Pluto Money a secure platform for investments?
Yes, Pluto Money prioritizes security and uses encryption and other security measures to safeguard users' personal and financial information. The platform complies with industry standards to ensure a secure and trustworthy environment for investments.
Is Pluto Money a financial institution?
No, Pluto Money is not a financial institution. It is a financial technology company that collaborates with authorized financial entities to provide investment services and solutions to its users.
How does Pluto Money work?
Pluto Money operates by granting access to diverse investment choices and tools for optimizing and monitoring investments effectively.
What is Pluto Money?
Pluto Money is a financial technology company that offers a user-friendly platform for individuals to manage their finances, make investments, and achieve their financial goals.
Investment 📈
What are the expected returns on different investment options?
The potential returns across different investment choices can fluctuate depending on market conditions and instruments. Pluto Money offers historical performance records and forecasts, aiding users in making well-informed investment choices.
Are there any fees or charges for using Pluto Money's investment services?
Pluto Money may charge a nominal fee during the investment transaction. This may include payment gateway charges and external processing fees. Details are displayed during the process of investment.
What is the minimum and maximum investment amount allowed?
Pluto Money offers flexibility in investment amounts. The minimum investment amount is ₹100, while the maximum amount that you can invest is Rs.90,000 as of now which may increase in the near future.
How can I start investing with Pluto Money?
To start investing with Pluto Money, you need to create an account, complete your profile, and set an amount and confirm payment. Once done, rest is automatically handled for user by the Pluto app.
Can I choose my risk appetite for investments?
Yes, Pluto Money allows users to define their risk appetite and investment preferences. Based on the user's risk tolerance and financial objectives, the platform suggests suitable investment options.
What are the investment options available on Pluto Money?
On Pluto Money, users can invest in digital gold, digital silver, Pluto Plus, and Pluto Fixed, offering diverse investment opportunities. These options provide users with flexibility and convenience, allowing them to build a well-rounded investment portfolio. With choices ranging from precious metals to fixed-income investments, Pluto Money caters to various investment preferences.
Digital Gold 🪙
Is digital gold safe and secure to invest in?
Certainly, purchasing digital gold via Pluto Money ensures safety and security. The platform collaborates with trusted gold providers like Augmont and follows RBI guidelines, ensuring the gold is securely stored in insured vaults, mitigating any risks of loss or theft.
Can I set up recurring investments in Digital Gold through the Pluto Money app?
Yes, Pluto Money offers the option to set up recurring investments in Digital Gold, allowing investors to automate their investment strategy and build their holdings over time. Investors can choose from monthly, weekly, or daily recurring deposits to suit their preferences and financial goals.
Is there a minimum or maximum investment amount for Digital Gold through Pluto Money?
The minimum investment amount starts from 100, while the maximum amount is capped at 90,000. Pluto Money aims to provide flexibility to investors, allowing them to invest according to their preferences and financial goals.
What are the advantages of investing in Digital Gold through Pluto Money?
Investing in Digital Gold through Pluto Money offers advantages such as convenience, liquidity, and the ability to invest small amounts at a time.
Is Digital Gold backed by physical gold?
Yes, Digital Gold is typically backed by physical gold stored in secure vaults. Each unit of Digital Gold represents ownership of a certain amount of physical gold.
How do I invest in Digital Gold through the Pluto Money app?
To invest in Digital Gold through the Pluto Money app, simply create an account, deposit funds, and choose between SIPs or one-time investments to purchase gold at the current market rate.
What fees are associated with investing in digital gold through the Pluto Money app?
There are typically minimal to zero fees associated with investing in digital gold through the Pluto Money app. These may include GST, which is transparently displayed before you make any investment decisions.
Are there any tax implications for investing in digital gold?
Tax implications for investing in digital gold may vary depending on your jurisdiction and individual circumstances. Generally, gains from selling digital gold may be subject to capital gains tax. It's advisable to consult with a tax professional for personalized guidance.
How is the price of digital gold determined?
The price of digital gold is based on the prevailing market rates of gold. It fluctuates in real-time, reflecting changes in gold prices. Pluto Money provides live updates on the digital gold price, enabling users to make informed investment decisions.
What happens to my digital gold investment in case of a market crash or economic downturn?
During a market crash or economic downturn, the value of digital gold may experience fluctuations, similar to other investments. However, gold is often considered a safe-haven asset, so its value may remain relatively stable or even increase during such periods.
What are the advantages of investing in digital gold over traditional gold investments?
Investing in digital gold offers several advantages, including lower transaction costs, accessibility, and the ability to start with smaller investment amounts. Additionally, digital gold eliminates the need for physical storage and provides greater liquidity compared to owning physical gold.
Can I convert my digital gold to physical gold in Pluto Money?
Pluto Money will soon offer users the ability to convert their digital gold holdings into physical gold. Through the app, users will be able to redeem their digital gold units and request the delivery of gold coins or bars to their doorstep. Our team is currently in the process of developing this feature, which will be made available in the near future.
What Returns can I expect on digital gold if I invest through Pluto Money?
Similar to the stock market, gold can have fluctuations in the short term, but historically it has provided an average annual growth rate of approximately 12% over extended periods.
Can I sell my digital gold anytime, and how will I receive the funds?
Yes, users can sell their digital gold holdings at any time. When they decide to sell, the equivalent amount is credited to their Bank account based on the gold selling price at that moment.
Is there any Minimum Lock in period in digital Gold on Pluto Money app?
You're not tied to any minimum lock-in period when you invest in Pluto Digital Gold. You have the flexibility to sell any portion of your gold at the current selling price whenever you choose to.
Do I have to pay any taxes when I sell gold to withdraw money into my account in Pluto Money app?
Yes, capital gains from selling gold, whether short-term (within 3 years) or long-term (after 3 years), are taxed differently. Short-term gains are added to your annual income and taxed at the highest income tax slab. Long-term gains are taxed at 20% with applicable surcharge and education cess.
What is digital gold, and how does it differ from physical gold?
Digital gold represents ownership of gold in electronic form, while physical gold refers to tangible gold items like bars or coins. With digital gold, you own a portion of physical gold stored securely by a trusted entity like Augmont, accessible through digital platforms like the Pluto Money app.
How does the price of digital gold fluctuate, and how is it determined?
In India, digital gold prices fluctuate with market demand and supply, like physical gold. They're influenced by global conditions and can be tracked on platforms like Pluto Money. Prices are typically based on the international gold price index, such as the LBMA gold price.
What are the storage and safety measures in place for digital gold investments in Pluto Money?
Your digital gold investment is securely stored by our partner Augmont in insured vaults. These vaults adhere to strict security protocols, including 24/7 surveillance and advanced encryption technology, ensuring the safety of your investment.
How does the volatility of digital silver compare to other asset classes?
The volatility of digital silver may vary, but historically it has exhibited lower volatility compared to some other asset classes like stocks. While it can experience price fluctuations, silver is generally considered less volatile than equities.
Can I earn dividends or interest on my digital silver investments?
Digital silver investments typically do not generate dividends or interest. However, you may benefit from potential price appreciation over time as the value of silver fluctuates in the market.
Are there any storage or maintenance costs associated with holding digital silver?
There are typically no storage or maintenance costs associated with holding digital silver through the Pluto Money app. Your silver holdings are securely stored in insured vaults, and there are no additional fees for storage.
What is the liquidity of digital silver investments?
Digital silver investments offer high liquidity, allowing you to buy or sell your silver holdings at any time during market hours in India. Typically, the market hours for commodities like silver range from 9:00 AM to 5:00 PM Indian Standard Time (IST) on weekdays, excluding market holidays. This provides investors with ample opportunities to execute trades and manage their investments effectively.
Are there any minimum or maximum investment amounts for digital silver in Pluto Money app?
The minimum investment in digital silver via the Pluto Money app is usually Rs. 100, while the maximum can reach up to Rs. 90,000. Invest any amount that aligns with your budget and investment objectives.
Can I set up recurring investments in digital silver through the Pluto Money app?
Yes, you can set up recurring investments in digital silver through the Pluto Money app. This allows you to automate your silver investments and build wealth over time through regular contributions.
Is digital silver in Pluto Money backed by physical silver reserves?
Yes, digital silver is backed by physical silver reserves held by our partner Augmont. Each unit of digital silver represents ownership of a corresponding amount of physical silver stored securely in insured vaults.
How does digital silver fit into a diversified investment portfolio?
Digital silver can serve as a hedge against inflation and economic uncertainty, making it a valuable addition to a diversified investment portfolio. Its low correlation with other assets may help reduce overall portfolio risk.
What happens to my digital silver investment in case of a market crash or economic downturn?
During a market crash or economic downturn, the value of digital silver may experience fluctuations, similar to other investments. However, silver is often considered a store of value, so its price may remain relatively stable or even increase during such periods.
Can I redeem my digital silver investment for physical silver if needed?
Pluto Money will soon offer users the ability to convert their digital Silver holdings into physical gold. Through the app, users will be able to redeem their digital silver units and request the delivery of silver coins or bars to their doorstep. Our team is currently in the process of developing this feature, which will be made available shortly.
Are there any tax implications for investing in digital silver?
Tax implications for investing in digital silver may vary depending on your jurisdiction and individual circumstances. Generally, gains from selling digital silver may be subject to capital gains tax. It's advisable to consult with our expert for personalized guidance.
How can I Invest digital silver through the Pluto Money app?
You can easily Invest in digital silver through the Pluto Money app by navigating to the 'one time' or 'Start savings' in digital silver section. Simply select the desired amount to invest, and complete the transaction securely within the app.
What are the storage and safety measures in Pluto money app in place for digital silver investments?
Your digital silver investment is securely stored in insured vaults by our partner Augmont. These vaults maintain strict security protocols, including 24/7 surveillance and advanced encryption technology, ensuring the safety of your investment.
How transparent is the pricing and trading of digital silver on the Pluto Money app?
The pricing and trading of digital silver on the Pluto Money app are transparent and real-time. Digital silver prices in India are typically tracked using indices such as the LBMA Silver Price, providing investors with accurate and up-to-date information.
What are the risks associated with investing in digital silver?
While digital silver investments offer opportunities for wealth accumulation, they also carry risks. These risks may include price volatility, economic factors, and regulatory changes. It's important to assess your risk tolerance and diversify your investments accordingly.
What is digital silver, and how does it differ from physical silver?
Digital silver represents ownership of silver in electronic form, while physical silver refers to tangible silver items like bars or coins. Digital silver is stored securely by a trusted entity and can be bought and sold digitally.
How does Pluto Money ensure the security and privacy of investors' funds and information in Pluto Plus?
Pluto Money employs advanced security measures to protect investors' funds and personal information in Pluto Plus, including encryption, secure servers, and regular audits.
Can I reinvest returns automatically in Pluto Plus?
Yes, Pluto Plus offers the option to automatically reinvest returns, allowing investors to compound their earnings over time and potentially increase their overall returns.
What are the benefits of investing in peer-to-peer lending through Pluto Plus?
investing in peer-to-peer lending through Pluto Plus offers several benefits, including potentially higher returns compared to traditional investments, diversification of investment portfolios, and the opportunity to support borrowers in need of financing while earning interest on invested funds.
How transparent is the investing process in Pluto Plus?
The investing process in Pluto Plus is transparent, with detailed information provided about investment opportunities, including processing fee, risk assessment, and potential returns.
Is my investment in Pluto Plus protected against defaults?
While measures are in place to mitigate risk, investments in Pluto Plus are not guaranteed against defaults. Diversification and careful investment selection can help manage this risk.
How can I start investing in Pluto Plus through the Pluto Money app?
To begin investing in Pluto Plus via the Pluto Money app, complete KYC verification by providing your Aadhaar and PAN card details. Once verified, explore investment options, select investments, deposit funds, and confirm your choices. Then, monitor your investments through the app for performance updates.
Are there any tax implications for investing in Pluto Plus?
Tax implications for Pluto Plus investments may vary depending on your jurisdiction and individual circumstances. Consult a tax professional for personalized advice.
Is there a minimum or maximum investment amount for Pluto Plus?
Pluto Plus typically allows investments starting from Rs. 100, with a maximum investment amount currently capped at Rs. 90,000, although this limit may increase in the near future. Investors have the flexibility to start with small amounts and gradually build their portfolio over time.
What are the fees associated with investing in Pluto Plus through the Pluto Money app?
There may be minimal to zero fees associated with investing in Pluto Plus through the Pluto Money app. Any applicable fees are transparently disclosed before investing.
What are the potential returns and risks associated with investing in Pluto Plus?
Pluto Plus offers the potential for attractive returns, but it also carries risks such as borrower defaults and economic downturns. Nonetheless, our NBFC partner has implemented multiple risk management measures, including comprehensive diversification, rigorous credit checks, and strong reserves to absorb downturns and market fluctuations.
How does peer-to-peer lending work, and what role does Pluto Plus play in it?
Peer-to-peer lending involves individuals lending money to others without the involvement of a traditional financial institution. Pluto Plus serves as a platform where investors can fund loans for borrowers.
What is Pluto Plus, and how does it differ from traditional investments?
Pluto Plus by Pluto Money is an investment option that allows users to invest in peer-to-peer lending opportunities facilitated by Lendbox, an NBFC. It differs from traditional investments by providing access to the peer-to-peer lending market.
What are the eligibility criteria for investing in Pluto Fixed?
Typically, investors must meet certain age and residency requirements and comply with applicable laws and regulations.
How does Pluto Money ensure transparency and fairness in Pluto Fixed investments?
Pluto Money maintains transparency and fairness in Pluto Fixed investments by providing clear and comprehensive information about investment terms, risks, and potential returns. Investors can make informed decisions based on this information.
Is there a minimum investment amount for Pluto Fixed?
Pluto Fixed may have a minimum investment amount required to open an account or purchase a fixed-term deposit. This amount varies depending on the specific terms and conditions of the investment.
Can I reinvest my returns automatically in Pluto Fixed?
Yes, Pluto Money offers the option to automatically reinvest returns from Pluto Fixed investments, allowing investors to compound their earnings over time.
How can I monitor the performance of my investments in Pluto Fixed?
Investors can track the performance of their Pluto Fixed investments through the Pluto Money app, which provides real-time updates on investment status, interest accrual, and maturity dates.
Are there any fees associated with investing in Pluto Fixed?
Pluto Fixed may have fees such as early withdrawal penalties, depending on the terms of the investment. It's important to review the fee structure before making an investment.
What are the different investment terms available for Pluto Fixed, and how do they affect returns?
Pluto Fixed offers various investment terms ranging from short to long durations. Generally, longer-term investments may offer higher interest rates but require a longer commitment from investors.
Can I withdraw my investment from Pluto Fixed before the maturity date?
Pluto Fixed investments are typically locked in for the duration of the agreed-upon term, and early withdrawal may not be permitted. However, specific terms and conditions may vary, so it's essential to review them before investing.
What are the risks associated with investing in Pluto Fixed, and how are they managed?
Pluto Fixed offers the potential for attractive returns, but it also carries risks such as borrower defaults and economic downturns. Nonetheless, Our NBFC partner has taken multiple measures to keep risks at bay such as comprehensive diversification, rigorous credit checks, strong cushioning to absorb bad times, and tolerance to market fluctuations.
Is my investment in Pluto Fixed protected, and what measures are in place to safeguard it?
While investments in Pluto Fixed are not guaranteed, Lendbox, the partner NBFC, follows regulatory guidelines and prudent risk management practices to safeguard investors' funds to the best of their ability.
What are the potential returns investors can expect from Pluto Fixed?
The potential returns from Pluto Fixed are upto 14%. These rates are typically set based on market conditions and the duration of the investment term.
What are the key features of Pluto Fixed, and what makes it attractive to investors?
Pluto Fixed offers fixed returns on investments for a specified period, providing investors with certainty and stability. It is ideal for those seeking predictable returns and willing to commit their funds for a fixed term.
How does Pluto Fixed work, and what is the investment process?
Pluto Fixed allows investors to deposit funds for a fixed period at a predetermined interest rate. The investment process involves selecting the desired term and amount, after which the funds are locked in for the duration of the investment period.
What is Pluto Fixed, and how does it differ from other investment options?
Pluto Fixed is an investment product offered by Pluto Money in collaboration with Lendbox, an NBFC. It provides investors with the opportunity to earn fixed returns on their investments, typically through fixed-term deposits or bonds.
What should I do if I encounter an issue or error with a transaction in the Pluto Money app?
If you encounter an issue or error with a transaction in the Pluto Money app, contact customer support immediately for assistance. Provide as much detail as possible about the transaction and the nature of the problem.
Are there any transaction processing times or delays to be aware of in the Pluto Money app?
While most transactions in the Pluto Money app are processed promptly, occasional delays may occur due to factors such as network issues or bank processing times. Contact customer support for assistance with any delays.
Can I set up alerts for transaction activity in the Pluto Money app?
Yes, you can set up alerts for transaction activity in the Pluto Money app to receive notifications for incoming and outgoing payments, account balances, and more.
Can I track my transaction history in the Pluto Money app?
Yes, the Pluto Money app provides a transaction history feature where you can view details of past transactions, including dates, amounts, and transaction statuses.
Can I schedule recurring transactions in the Pluto Money app?
Yes, you can schedule recurring transactions in the Pluto Money app for added convenience and efficiency.
How long does it take for transactions to be processed in the Pluto Money app?
In the Pluto Money app, most transactions are processed within minutes to a few business days.
Is it safe to conduct transactions through the Pluto Money app?
Yes, Pluto Money employs advanced security measures to protect your transactions, including encryption, multi-factor authentication, and regular security audits.
Taxation 🏦
Does Pluto Money provide tax filing assistance?
Pluto Money does not directly provide tax filing services. However, you can easily access all necessary investment details and statements to help with your tax filing process.
How are taxes calculated on different investment returns?
Taxes on investment returns depend on the type of investment and the holding period. For example, long-term capital gains on equity investments are tax-free up to a certain limit.
Security 🔐
Are there any additional security features like two-factor authentication?
Yes, Pluto Money provides finger print unlocking as an additional security layer for your account, adding an extra level of protection to your login process.
What security measures are in place to protect against cyber threats?
Pluto Money employs multi-layered security protocols to safeguard against cyber threats, such as firewalls, intrusion detection systems, and regular security audits.
Is my data encrypted on the platform?
Yes, all user data on Pluto Money is encrypted using advanced encryption algorithms, ensuring the confidentiality of your information.
How does Pluto Money ensure the security of my personal and financial information?
Pluto Money employs industry-leading security measures, including data encryption, to protect your personal and financial information from unauthorized access.
Support 📲
How long does it typically take to resolve customer queries?
Pluto Money aims to resolve customer queries within 24 to 48 hours. However, complex issues may require additional time for thorough resolution.
Can I get assistance with investment decisions from the support team?
Yes, Pluto Money's support team is available to assist you with investment-related queries and provide guidance to help you make informed decisions.
What are the working hours of Pluto Money's support team?
Pluto Money's support team operates from Monday to Friday, 11:00 AM to 8:00 PM (IST), excluding weekends and public holidays.
How can I contact Pluto Money's customer support?
You can reach out to Pluto Money's customer support through the app's built-in chat support or by sending an email to support@plutomoney.in
Account and Payment 🙍♂️
How long does it take for withdrawals to be processed?
Withdrawal processing time may vary depending on your bank and payment method. Typically, it takes 1 to 7 business days for the funds to reflect in your bank account.
Are there any charges for adding or withdrawing funds?
Pluto Money does not charge any fees for adding or withdrawing funds from your account. However, some banks may impose transaction charges, which will be applicable.
How can I add or withdraw funds from my Pluto Money account?
You can add funds to your Pluto Money account through UPI, or other supported payment methods. To withdraw funds, you can request a withdrawal through the app.
Can I link multiple bank accounts to my Pluto Money account?
As of now, you cannot link multiple bank accounts to your Pluto Money account. However, in the near future, this feature will be available, allowing you to manage seamless fund transfers and transactions across different bank accounts.
Privacy and Data Usage 🪪
Can I delete my account and data from Pluto Money?
Yes, you have the option to delete your Pluto Money account and request the removal of your data from their systems. However, note that account deletion may affect your investment records. You can mail us at Support@plutomoney.in to delete your account.
How is my personal information used on the platform?
Your personal information is used to facilitate account management, and investment activities, and provide customer support. Pluto Money employs strict security measures to protect your data.
What information does Pluto Money collect from users?
Pluto Money collects basic personal information such as name, email, and contact details to create and manage your account. Additionally, it may collect financial data required for investment purposes.
Pluto Money takes user privacy seriously and does not share your data with any third parties without your explicit consent. Your information is kept confidential and used solely for providing financial services.
What should I do if I encounter any issues or delays with KYC verification in the Pluto Money app?
If you encounter any issues or delays with KYC verification in the Pluto Money app, please contact customer support for assistance. Provide as much detail as possible about the problem for prompt resolution.
What information is required for KYC verification in the Pluto Money app?
The information required for KYC verification in the Pluto Money app may include your Father's Name and government-issued identification documents.
Is there a fee for KYC verification in the Pluto Money app?
No, there is typically no fee for KYC verification in the Pluto Money app. It is a standard process required for account activation and compliance purposes.
Can I start using the Pluto Money app before completing KYC verification?
Some features of the Pluto Money app may be accessible without completing KYC verification, but certain assets, such as Pluto plus and Pluto Fixed, may require verified KYC status.
Is my personal information secure during the KYC process in the Pluto Money app?
Yes, Pluto Money employs advanced security measures to protect your personal information during the KYC process, including encryption and secure data storage.
What documents are accepted for KYC verification in the Pluto Money app?
Accepted documents for KYC verification in the Pluto Money app may include a Pan card and Aadhaar card.
Is KYC mandatory for using the Pluto Money app?
Yes, KYC verification is mandatory for all users of the Pluto Money app for the assets like Pluto fixed and Pluto plus. It helps ensure the security and integrity of the platform.
Legal and Compliance ⚖️
What are the terms and conditions for using Pluto Money?
The terms and conditions for using Pluto Money's services are outlined in their user agreement, which covers account creation, investment policies, and other essential aspects. Users are encouraged to review these terms before using the platform.
Are there any restrictions on who can use Pluto Money's services?
No, Pluto Money offers its services to every legal and law-abiding citizen of India.
Is Pluto Money regulated by any financial authorities?
Yes, Pluto Money operates under the regulations set forth by relevant financial authorities to ensure compliance with financial standards and protect user interests.