Nowadays everyone is giving priority to investment and savings for their secure future. For which people invest in stock market, mutual funds and gold. Digital payment company PhonePe has announced the launch of Systematic Investment Plan (SIP) for investing in gold. Under this plan, users can now invest a specific amount every month in 24 carat gold. Under this scheme, investors will have complete control over their gold and they can sell it at any time and get money directly in their bank account. Let’s know what is Phone Pe Gold SIP? And how can you start it?
What is Phone Pe Gold SIP?
Phone Pe Gold SIP is a new service launched by Phone Pe. Which was started in the year 2022. Through this, Phone Pe users can do SIP in gold through UPI. Just like people do SIP in mutual funds. In the same way, Phone Pe has provided people a safe and easy way to do SIP in gold. Phone Pe Gold SIP is becoming very popular these days. Which is being liked by the customers due to easy and automatic investment process.
Start with just Rs 100
Through Phone Pe Gold SIP service, customers can start investing in GOLD with just ₹ 100 per month. This investment of theirs will be invested in 100% pure gold 24 carat gold. Of course, customers are being given the facility to invest in gold with this small amount. But this is a safe and regulated process. Which makes big profits after continuing for a long time. This process is very flexible. Which customers can change according to their situation. That is, you can increase or decrease the amount invested per month.
Whenever customers sell the gold invested, they can sell it in a few seconds without any hassle. And all their money will be deposited directly into their bank account.
Advantages and Disadvantages of doing SIP in gold
Gold SIP is such an option of investment, in which investors regularly repeat the process of buying gold continuously with a small amount. It can have many advantages and disadvantages. Let’s know about them.
Advantages of Gold SIP
- Investing in gold is considered a safe investment against inflation. Whenever inflation increases, the value of gold also increases. Due to which your property remains safe.
- In this, you do not invest all the money at once but invest in installments. Due to which the market may give positive or negative signals, but your investment will always be average. Due to which you will have the least chance of incurring loss.
- This is a long-term process. Which always gives profit.
Disadvantages of Gold SIP
- You will not get any regular income by doing Gold SIP. Unless you withdraw your investment.
- Investors have less control over Gold SIP as compared to physical gold.
- The value of gold keeps on increasing and decreasing with the market. So, even if it is less, there is still risk involved.
- When you do SIP in GOLD through PhonePe, some charges are applicable on it. Which can be taken in the form of platform fees etc. Which can also include some percentage of the returns you get.
How to Start Gold SIP with PhonePe?
To start SIP in gold through PhonePe, first click on the Wealth option. And reach Gold Investment. Now here you have to select Gold Provide. And after this, how much do you want to invest per month? Choose that amount and confirm it by entering your UPI PIN. After this, every month that much amount will be automatically invested in gold. This process will continue automatically. Until you stop it.
Conclusion
There are two important factors to buy physical gold compared to digital gold. First, this gold will always be with you, and it can also be used as jewelry. If you have any question regarding this post, then you can tell us by commenting in the comment box given below. Your feedback and suggestions are welcome as always. Thank you.
