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.
How does Pluto Money work?
Pluto Money works by allowing users to create an account by setting their financial goals, add any dependants, and set an amount and confirm payment. The platform ensures the amount set is automatically invested into the best financial plan suiting the User persona.
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.
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.
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.
What types of financial services does Pluto Money offer?
Pluto Money offers effort-less save-to-auto-invest model, where customer sets an amount to invest and that is auto-invested into multiple investment instruments like Digital gold, emergency fund, Peer-to-Peer investing etc.
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 are the investment options available on Pluto Money?
Pluto Money offers a wide range of investment options, including Digital gold, Peer-toPeer investment, Emergency Fund and other asset classes. The right investment instruments are auto-selected for them by Pluto Money App based on their risk profile and information provided.
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.
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.
What is the minimum and maximum investment amount allowed?
Pluto Money offers flexibility in investment amounts. The minimum investment amount is ₹500, while there is generally no maximum limit for investments.
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 fee also. Details are displayed during the process of investment.
Can I set up automatic investments or SIPs with Pluto Money?
Yes, Pluto Money allows users to set up Systematic Investment Plans (SIPs) for regular investing. Users can automate their investments and contribute a fixed amount periodically to their chosen funds.
What are the expected returns on different investment options?
The expected returns on various investment options may vary based on market conditions and individual individual investment instruments. Pluto Money provides historical performance data and projections to help users make informed decisions.
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.
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.
Digital Gold FAQs:
What is digital gold, and how does it work?
Digital gold is a modern and convenient way of investing in gold online. It allows users to buy and own 24k pure gold in a digital form, securely stored in vaults under their name. On Pluto Money, users can purchase digital gold at the click of a button, making it a hassle-free investment option. No making charge has to be paid while buying digital gold.
Is digital gold safe and secure to invest in?
Yes, investing in digital gold through Pluto Money is safe and secure. The platform partners with authorized gold sellers, such as SafeGold, Augmont, or MMTC-PAMP, who store the actual gold in insured vaults, eliminating the risk of loss or theft.
Can I convert my digital gold to physical gold?
Yes, Pluto Money allows users to convert their digital gold holdings into physical gold. Users can request delivery of gold coins or bars to their doorstep by redeeming their digital gold units.
What are the storage options for digital gold on Pluto Money?
The digital gold purchased through Pluto Money is stored in highly secure and insured vaults provided by trusted gold banks. This ensures the safety and authenticity of the gold holdings.
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.
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 a minimum or maximum limit for buying digital gold?
Pluto Money offers great flexibility in buying digital gold. Users can start with as low as 10 units of digital gold, and there is generally no maximum limit for purchasing. This makes it accessible to investors of all budget sizes.
Does Pluto Money provide tax-saving investment options?
Yes, Pluto Money offers various tax-saving investment options such as Equity-Linked Savings Schemes (ELSS) and Public Provident Fund (PPF).
Can I get tax benefits on the investments made through Pluto Money?
Absolutely! Investments in tax-saving instruments like ELSS and PPF can help you avail tax benefits under Section 80C of the Income Tax Act.
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.
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 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.
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.
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.
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.
Support and Customer Service FAQs:
How can I contact Pluto Money's customer support?
You can reach out to Pluto Money's customer support through the app's in-built chat support or by sending an email to firstname.lastname@example.org.
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.
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.
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.
Account and Payments FAQs:
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.
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.
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 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.
Privacy and Data Usage FAQs:
Does Pluto Money share my data with third parties?
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 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.
How is my personal information used on the platform?
Your personal information is used to facilitate account management, investment activities, and provide customer support. Pluto Money employs strict security measures to protect your data.
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 email@example.com to delete your account.
Legal and Compliance FAQs:
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.
Are there any restrictions on who can use Pluto Money's services?
No, Pluto Money offers its services to a every legal and law abiding citizen of India.
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.