How Do I Cancel a Gold Instalment on Pluang?

To cancel a gold instalment on Pluang, open the Gold asset page, tap your gold balance (vault) icon, tap Installment, choose the instalment and tap Cancel Installment, then confirm with YES. Think it through first, because cancelling has a cost: a 10% cancellation penalty applies and the down payment is forfeited. Whatever remains of what you have paid goes back to your Rupiah balance, but if the penalty and the down payment add up to more than you have paid so far, nothing is returned. The confirmation pop-up shows the exact amounts before you confirm, and once the cancellation is processed it cannot be reversed. A cancelled instalment also gives you no gold, because the gold is only added to your balance when the status is Completed.

Steps to cancel a gold instalment

• Go to the Gold asset page and tap your gold balance (vault) icon.
• Tap Installment to open the Gold Installment menu.
• Tap the instalment you want to cancel.
• Tap Cancel Installment.
• Read the confirmation pop-up, which shows the Cancellation Fee and the Refunded Funds, then tap YES to cancel.

What is deducted. Two things are taken when you cancel: the 10% cancellation penalty and the down payment, which is forfeited. There is no admin fee and no late fee on gold instalments, and the cancellation screen shows the full breakdown of what is deducted before you confirm.

What you get back. Refunded Funds are what you have paid so far minus the cancellation fee, and they go to your Rupiah balance. If the penalty plus the down payment is larger than what you have paid, the refund is zero.

Related questions:

Q: Can I get my down payment back after cancelling a gold instalment?
No. When a gold instalment is cancelled, the down payment is forfeited, and a 10% cancellation penalty applies on top. Only what remains of the other payments you have made comes back to your Rupiah balance, and that can be nothing if the penalty and down payment exceed what you paid. The confirmation pop-up shows the Refunded Funds figure before you tap YES, so check it first.

Q: Can I undo a gold instalment cancellation?
No. Once a cancellation has been processed it cannot be reversed, and the plan cannot be restored. If you still want gold on instalment afterwards, you would need to create a new instalment, which starts again with a new 8% down payment and the buy price at that moment. That is why the pop-up shows every amount before you confirm: read it carefully before tapping YES.

Q: What if I just stop paying instead of cancelling?
Letting payments lapse does not avoid the cost. After 2 consecutive unpaid instalments the system cancels the plan automatically, and the same terms apply: the 10% cancellation penalty and a forfeited down payment. The only difference is that you do not choose the moment. If money is tight for a month, topping up your Rupiah balance before the next 25th may keep the plan running.

Q: Where does the refund from a cancelled gold instalment go?
Any refund goes to your Rupiah balance in the Pluang app, after the 10% penalty and the forfeited down payment are deducted. From there it works like the rest of your Rupiah balance: you can use it to buy gold or other assets in the app, or withdraw it. If you received nothing, the penalty and down payment were larger than what you had paid.