How To Invest In Gold Online Phonepe Gold Investment Charges

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How To Invest In Gold Online Phonepe Gold Investment Charges

Digital payments company PhonePe announced that it will launch UPI SIP for investment in gold. Users will be able to invest in high purity 24K gold of a specified amount every month. The gold can be accumulated in their insured bank-grade lockers, maintained by MMTC-PAMP and SafeGold. 

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Learn About Phonepe Gold Investment

PhonePe, a digital payments business, has launched a SIP (systematic investment plan) for investing in gold via UPI. According to the firm, users can now invest in the highest purity 24K gold for a certain sum each month and store their gold in insured bank-grade lockers maintained by PhonePe's partners, MMTC-PAMP and SafeGold. 

The user must select the gold provider, enter the monthly investment amount, and authenticate with the UPI PIN before the contributions are deducted automatically each month.

Digital payments company PhonePe announced that it will launch UPI SIP for investment in gold. Users will be able to invest in high purity 24K gold of a specified amount every month. The gold can be accumulated in their insured bank-grade lockers, maintained by MMTC-PAMP and SafeGold. 

Users have the option to sell their gold at any time and receive a straight credit to their bank account. They can also exchange gold for gold coins and bars, which will be delivered to their door. "As Indians explore innovative ways to buy gold, we are pleased to offer our users the option of setting up a gold SIP using UPI." 

PhonePe's gold SIP will assist customers in building their long-term gold investments in a hassle-free manner by allowing them to purchase the purest 24K gold through small and regular monthly installments," said Terence Lucien, PhonePe's head of Investments.

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"Users do not need to continuously follow Gold prices in order to make an investment decision because gold SIP is a periodic investment. Investing a set amount of money in gold at regular periods could lower the user's average cost of investing in the long term "PhonePe issued a statement.

The initial setup is one-time, and subsequent investments will be fully automatic. Investors do not need to be concerned about the price of gold. The organization added that investing a fixed quantity at regular intervals will lower the average cost of investment in the long run.

How to set up UPI SIP for gold:

  • Go to the ‘Wealth’ tab at the bottom strip of the PhonePe app
  • Tap gold under the Investment Ideas section
  • Select Start Accumulating Gold/Buy More Gold
  • Select a provider
  • Enter the amount you want to invest monthly, along with the date of investment
  • Select ‘Pay and set Autopay’
  • Confirm with your UPI PIN
  • PhonePe is not the first to add this feature. The likes of Paytm, MobiKwik, and KreditBee also offer digital gold investment options.
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Download PhonePe App Now

  • Step1: Use my link to download the app
  • Step2: Register using your mobile number and link your bank account.
  • Step3: Start making 24x7 instant UPI payments for money transfers, recharges, bill payments & more.
  • 30 Crore Indians pay with PhonePe. It's 100% safe & secure.

Download the app now: https://phon.pe/ru_KalpU4Wyt

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