Money Magnets
Effective: 6 October 2026
Last updated: 6 October 2026
Applies to: Website, app, advisory and investment services
Money Magnets helps people invest. To do that we have to know who you are, what you earn and what you want your money to do. This policy explains what we collect, why we collect it, who we share it with and how you stay in control of it.
In this policy, “Money Magnets”, “we” and “us” mean [Registered legal entity name], registered at [Registered office address]. We provide financial investment services, which may include mutual fund distribution, portfolio and advisory services, and an online platform for tracking and placing investments.
For the data described here, we are the “Data Fiduciary” under India’s Digital Personal Data Protection Act, 2023 (the “DPDP Act”). Where you live elsewhere and other privacy laws apply to you, we honour those as well.
Our regulatory registrations: [SEBI / AMFI / other registration numbers].
We collect only what we need to open and run your account, meet the law and serve you well. The table lists each category, with examples.
| Category | Examples | Where it comes from |
|---|---|---|
| Identity | Name, date of birth, photograph, signature, PAN, proof of address, the last four digits of Aadhaar where required | You, and KYC registries when you consent |
| Contact | Mobile number, email address, postal address | You |
| Financial profile | Income range, occupation, source of funds, tax residency, bank account details, nominee details, investment goals, risk appetite | You, through onboarding and suitability questionnaires |
| Transactions | Orders, SIP mandates, redemptions, folio and holding details, payment references | Your activity, and fund houses, registrars and banks |
| Device and usage | IP address, device model, operating system, app version, pages viewed, session times, crash logs | Your device, automatically |
| Communications | Support chats, emails, call recordings, survey responses, consent records | You, and our own systems |
We do not ask for your net banking password, card PIN or OTP. Anyone asking for them in our name is not us. Please report it to us immediately.
We do not sell your personal data. We do not use your holdings or transaction history to advertise third-party products to you.
We share data only when there is a clear reason, and only the part that is needed.
Asset management companies, registrars and transfer agents, depositories, custodians, exchanges, clearing corporations, payment gateways and your bank.
SEBI, RBI, the Income Tax Department, the Financial Intelligence Unit, KYC registration agencies, courts and other authorities who have a lawful right to ask.
Cloud hosting, identity verification, SMS and email delivery, analytics, customer support tools, auditors and legal advisers. These providers act on our instructions under written contracts that require confidentiality and security.
If Money Magnets merges with, or is acquired by, another business, your data may move to the new owner. We will tell you first, and the same protections will continue to apply.
We use cookies and similar tools on our website and app.
You can control non-essential cookies from your browser settings or from the consent banner. Blocking essential cookies will stop parts of the platform from working.
Your data is encrypted in transit and at rest. Access inside Money Magnets is limited to staff who need it for their role, and is logged. We use multi-factor authentication for sensitive actions, run regular security testing and review our vendors.
No system is perfectly secure. If a breach affects your personal data, we will notify you and the Data Protection Board of India as the law requires, and tell you what happened and what you can do.
You can help by using a strong, unique password, keeping your phone and email secure, and never sharing OTPs.
We keep personal data for as long as you have an account with us and for the period that securities, anti-money-laundering, tax and company laws require after that, which is generally at least five years. After that we delete it or anonymise it.
Marketing preferences and analytics data are kept for shorter periods. Data we no longer need is removed on a regular schedule.
Under the DPDP Act and similar laws, you can:
Some data we must keep by law, even if you ask us to delete it. We will tell you which data this covers and why. We reply to requests within 30 days. Withdrawing consent does not affect what we did lawfully before you withdrew it.
To make a request, use the contact details in section 12. We may ask you to verify your identity first.
Most of our data is stored in India. Some service providers may process data in other countries. When that happens, we transfer data only to countries and providers permitted under Indian law, and we require the same level of protection by contract.
Our services are for adults. A person under 18 can hold an investment account only through a parent or legal guardian, who must give verifiable consent and who manages the account. We do not knowingly collect a child’s data for advertising or tracking.
We update this policy when our services, our providers or the law change. The effective date at the top always shows the current version. If a change is significant, we will tell you by email or in the app before it takes effect and ask for fresh consent where the law requires it.
For privacy questions, data requests or complaints, write to our Grievance Officer.
Name: [Grievance Officer name]
Email: [privacy email address]
Phone: [phone number]
Address: [Registered office address]
Hours: [Days and hours]
If we do not resolve your complaint, you can approach the Data Protection Board of India. For complaints about investment services you can also use SEBI’s SCORES platform.
Investments are subject to market risks. Read all scheme-related documents carefully before investing. This policy explains how we handle your data and is not investment advice.
