Owned by Flipkart On the phone Launched Systematic investment planning For users who want to invest in gold (SIP). Users can use UPI Mode of payment for SIP. According to the company, users can invest a certain amount of money per month in maximum purity 24K Gold And save it in an insured bank-grade locker operated by PhonePe’s partners, MMTC-PAMP and SafeGold.
According to the company, launching this Gold SIP is a one-time operation, and all subsequent payments will be fully automated. Users can opt out of SIP at any time and payments will come directly to their bank account. They can also choose to redeem their gold SIP in the form of gold coins or bars and have it delivered to their home.
How to set up UPI SIP for Gold on PhonePe:
Step 1: Tap Wealth on the bottom strip of your PhonePe app’s homepage.
Step 2: Tap Gold under the Investment Ideas section.
Step 3: Start depositing gold / Select Buy more gold.
Step 4: Select a provider and then, under Monthly Investment (SIP), enter the amount you want to invest each month and enter the date of investment.
Step 5: Proceed to select ‘Pay and Set AutoPay’ and confirm with your UPI PIN.
Your UPI Gold SIP has been successfully set up.