Table of Contents
Is PhonePe mutual funds safe?
They offer higher returns than a bank account and are the safest mutual fund investments which are suitable for short term savings.
Does PhonePe charge for mutual fund?
No, you will not be charged an additional fee when you invest in mutual funds through PhonePe. However, as per the new regulatory norm, you will be required to pay a stamp duty of 0.005\% (of your investment amount) when you invest in mutual funds through any platform, including PhonePe.
Can I invest in SIP through PhonePe?
Tap Investments at the bottom of your PhonePe app home screen. Tap Start a SIP or select the mutual fund you want to invest in under the Mutual Funds Categories section. Enter the amount you wish to invest each month. Select Monthly SIP as the investment type and set the investment date.
What is Tax Saving fund in PhonePe?
PhonePe has the perfect solution for you. Tax Saving Funds are an Equity Linked Savings Scheme (ELSS) with a 3 year lock-in period, which is the minimum among all eligible investment products under Section 80C. These funds are also known to deliver higher long-term returns compared to other 80C investment options.
Which is the best app for mutual fund in India?
Best Mutual Fund App in India – List of Top 10 Mutual Funds App for Direct SIP
Rank | Mutual Fund Apps |
---|---|
1 | Zerodha Coin App |
2 | Groww App |
3 | ET Money App |
4 | CAMS App |
How do I withdraw money from my PhonePe mutual fund?
To sell the units you’ve invested in or withdraw your funds:
- Tap Investments at the bottom of your PhonePe app home screen.
- Tap My Portfolio.
- Choose which fund you want to redeem.
- Tap Withdraw.
- Select Withdraw all under Amount.
- Tap Withdraw.
- Tap Confirm in the pop-up.
Is PhonePe free to invest in?
As of now, PhonePe is offering investment services to its users free of cost. The Flipkart-owned company forayed into financial products in 2018 with gold buying and selling option followed by tax-saving funds in March 2019. Currently, the platform offers only three equity-linked savings schemes (ELSS) and will offer one liquid fund.
What is PhonePe’s liquid fund investment offering?
Digital payments company PhonePe on Wednesday announced that it will launch liquid fund investment through its app. It has tied up with Aditya Birla Mutual Fund for this offering, giving the app’s close to 175 million users the option to invest their idle money into a liquid mutual fund.
What is PhonePe deposits and withdrawals?
Deposits and withdrawals can be done in a few taps and in under five minutes. As of now, PhonePe is offering investment services to its users free of cost. The Flipkart-owned company forayed into financial products in 2018 with gold buying and selling option followed by tax-saving funds in March 2019.
What is PhonePe’s wealth services?
PhonePe aims to tap the growing base of millennials looking looking to manage their wealth. Co-founder and CEO Sameer Nigam told TOI the company has set up a new entity, PhonePe Wealth Services, for this business.