Frequently Asked Questions

How Tortoise works

What is a Tortoise savings plan?

  1. Tortoise savings plans allow you to plan and save for all your future purchases and earn additional rewards.

    In a world pushing you towards loans, credit and EMIs, we are trying to introduce a better way to make all your purchases. Saving up as per a plan best suited for your needs and buying later means additional rewards, no debt, credit, or fees.

    Saving up for large purchases has been a timeless practice, ingrained in our culture of thoughtful consumption. Tortoise aims to leverage technology in order to make this practice easier and more rewarding for you.

Why should I start a savings plan with Tortoise?

  1. There are several benefits to saving with Tortoise:
  2. Additional rewards, over and above your savings goal (in the form of the additional purchase value, additional discounts or cash rewards)
  3. Better control over your personal finances. You decide how much, and when you want to save.
  4. Avoid taking loans and EMIs to make your purchases.
  5. Greater flexibility and freedom. Sudden change in plans? No problem! Unless explicitly specified otherwise, Tortoise allows you to cancel your savings plan anytime for instant 100% refunds without any hidden charges.

What can I start a savings plan for?

  1. You can start a savings plan for any of the partner brands/ merchants listed on our app, under the “Explore Goals” section

How can I create a savings plan on Tortoise?

  1. Step 1. Pick the brand or product you want to save for
    Step 2. Set your goal amount and duration
    Step 3. Make your first deposit to start your goal, and you’re all set!

Goal management and cancellation

Where can I track and manage my ongoing goals?

  1. You can find all your ongoing saving plans under the “My Goals” section of our app

Can I change my goal amount?

  1. Currently, the goal amount cannot be changed for ongoing goals in the app. However, if you still wish to do so, please call or WhatsApp us at +917411787030

Can I change my goal duration?

  1. Currently, the goal duration cannot be changed for ongoing goals in the app. However, if you still wish to do so, please call or WhatsApp us at +917411787030

Can I change the brand/ merchant for my goal?

  1. You cannot change the brand/ merchant for an ongoing goal. If you wish to do so, you will have to first cancel your ongoing goal, and then start a new goal for the brand/ merchant you wish to switch to. All your deposits from your existing plan will be instantly refunded to the source account once you cancel your original goal.

Can I cancel my goal?

  1. We offer instant, 100% refunds on all our saving plans, with no hidden charges. This way, you are always in complete control and can choose to withdraw your deposits at any point. However, any rewards you may have earned will be forfeited in case of cancellation of a goal.

Can I skip a payment or pause my goal?

  1. Yes, you can, so long as your goal duration does not exceed 1 year from the date of your first deposit. Go to the plan you want to pause under the “My Goals” section of our app

Can I complete my goal before my selected duration?

  1. Yes, you can pre-pay any balance amount and complete your goal anytime after 3 months from the date of your first deposit.

Deposits and Payments

How can I make deposits?

  1. You can make your deposits using UPI or NetBanking.

What is AutoPay?

  1. AutoPay ensures that you never miss a deposit by automating payments from your bank account to your savings plan. Also, there are additional rewards to be earned for setting up AutoPay

How can I set up AutoPay?

  1. Step 1. Select the relevant goal you wish to set up AutoPay for, under the “My Goals” section of our app
    Step 2. Click on the ‘Set up AutoPay’ option
    Step 3. Enter your UPI ID. You can choose the UPI app of your choice.
    Step 4. Authorise the payment from your selected UPI app, and you’re all set!

Goal completion and redemption

What happens once I complete my savings goal?

  1. Once you complete your goal, you will have to redeem your goal in order to be able to make your purchase. The option to redeem your goal will appear on the goal page, once your goal is complete.

How long do I have to redeem my goal?

  1. You have to redeem your goal within 1 year from the date of your first deposit. For example,
  2. If you made a savings goal with a 6-month duration, you will have 6 months from the date of completion of your goal to redeem it
  3. If you made a savings goal with a 3-month duration, you will have 9 months from the date of completion of the goal to redeem it

What happens if I do not redeem my goal after completion?

  1. If you do not redeem your goal, your deposited funds will be automatically transferred back to your source account. Additionally, any Tortoise rewards you were eligible for will stand forfeited.

How long do I have to complete my purchase?

  1. For Apple saving plans
    ‍You have 30 days from the date of goal redemption to complete your purchase. If you do not make a purchase within 30 days from the date of goal redemption, any Tortoise rewards you were eligible for will stand forfeited.

    For all other saving plans
    The exact validity of the voucher issued to you varies by the merchant but is usually 1 year from the date of issuance of the voucher. Please check the detailed terms and conditions of each savings plan for additional information around voucher validity for that particular merchant/ brand.

Where can I make my purchase?

  1. You can make your purchase at any of our partner stores. The relevant partner stores for each savings plan are listed under the plan listing in the “Explore Goals” section of our app

Tortoise rewards

What rewards can I earn on my savings plans?

  1. The exact amount and nature of rewards vary by brand/ merchant. You can find all the details about rewards on a specific plan by clicking “See Details” on the plan listing under the “Explore Goals” section of our app

How will my rewards be calculated?

  1. For Apple saving plans
    Your rewards are calculated on your goal amount or your actual invoice value, whichever is lower.
    1. If you make a goal of Rs. 50,000 but end up making a purchase for Rs. 60,000, your rewards will be calculated on Rs. 50,000
    2. If you make a goal of Rs. 50,000 but end up making a purchase for Rs. 25,000, your rewards will be calculated on Rs. 25,000
    ‍
    For all other saving plans
    Your rewards are calculated on your goal amount.

How will I receive my rewards?

  1. For Apple saving plans
    Step 1. Once you complete your goal, we will transfer your deposited amount back to your bank account
    Step 2. Purchase your Apple product at any of our partners’ stores
    Step 3. Upload your invoice on the Tortoise app
    Step 4. Once your invoice is verified, the rewards will be transferred directly to your bank account
    ‍
    For all other saving plans
    Once you complete your goal, you will receive a voucher worth your total deposited amount and your additional earned rewards. You can redeem this voucher at the merchant’s online or offline stores.

When will I receive my rewards?

  1. For Apple saving plans
    Your rewards will be transferred to your bank account within 15 days of your invoice being verified.
    ‍
    For all other saving plans
    You will receive your rewards immediately on redemption of your goal.