Invest in Gold easily and systematically with UPI SIP on PhonePe
Indians love Gold. So, it is no surprise that Indians buy over 700 tonnes of gold in the form of jewelry, coins and bars every year! PhonePe, thus, offers its users an opportunity to invest in 99.99% pure 24K Gold in a hassle-free manner in just a few clicks. Users can choose to store the purchased Gold safely in lockers managed by PhonePe’s partners, MMTC-PAMP and SafeGold or can have the Gold delivered right to their doorstep in the form of coins and bars.
Gold Investments made easy with UPI SIP
Now, PhonePe has announced the launch of UPI SIP for Gold investment to make investing in Gold easy and systematic. Users can now invest in the highest purity 24K Gold of a specified amount every month, and accumulate their Gold in insured bank-grade lockers.
The advantage of starting a Gold SIP on PhonePe is the convenience of UPI. The user has to just select the Gold provider, mention the monthly investment amount, authenticate with the UPI PIN and it’s done! Setting up a Gold SIP is a one time, hassle-free process and all subsequent investments are completely automated. Users will have complete control of their Gold investments and can sell the Gold at any time and get a direct credit to their bank account. They can also choose to redeem their Gold in the form of Gold Coins and Bars, which will be delivered to their doorstep.
Advantages of investing in Gold via UPI SIP
PhonePe users can now invest in Gold systematically and reap the following benefits as well:
1. Buy 24K Gold with just Rs 100 per month:
Through the Gold SIP, users can begin investing in the highest purity 24K Gold with as low as Rs 100 per month and continue to invest small amounts regularly to build their Gold savings gradually.
2. No need to worry about price movement
Since Gold SIP is a periodic investment, users don’t need to continuously track Gold prices in order to make an investment decision. Investing a fixed sum of money towards Gold at specific intervals could reduce the user’s average cost of investment in the long run.
How to set up UPI SIP for Gold on PhonePe
To set up UPI SIP for Gold on PhonePe, you can follow these steps:
Step 1: Tap ‘Wealth’ on the bottom strip of your PhonePe app homepage.
Step 2: Tap ‘Gold’ under the ‘Investment Ideas’ section.
Step 3: Select ‘Start Accumulating Gold’/’Buy More Gold’.
Step 4: Select a provider and then, under ‘Invest Monthly (SIP)’, enter the amount you wish to invest every month and the date of investment.
Step 5: Proceed to select ‘Pay and set Autopay’ and confirm with your UPI PIN.
And you’re done! Your UPI Gold SIP is set up successfully.