Is Phonepe SIP Safe?

[Hema Kulkarni]

Thinking of doing SIP via phonepe since majority of my UPI Transactions happen there only. Has anyone tried before? Is it Safe?

 

[Abhishek s Jain]

Yes, it is safe. Here phone pe works like a platform only. Once you start an sip on phone pe all your transaction happen with AMC only.
If you comfortable with phone pe service you can go for it!
Safety tip - please check your email regularly for all your transaction for sip that you received an confirmation mail from AMC.

 

[Nihal Singh]

Using PhonePe for SIP (Systematic Investment Plan) is a convenient way to invest in mutual funds, especially if you frequently use the app for UPI transactions. PhonePe is a widely used digital payments platform in India, and it offers mutual fund investment services in collaboration with various mutual fund houses. However, like any financial transaction, it's important to consider the safety aspects.

 

[Hema Kulkarni]

Yes, it is safe. Here phone pe works like a platform only. Once you start an sip on phone pe all your transaction happen with AMC only.
If you comfortable with phone pe service you can go for it!
Safety tip - please check your email regularly for all your transaction for sip that you received an confirmation mail from AMC.

Thank you for reply. Any idea about their fees? Is it expensive or cheaper than established players like Zerodha, Groww, etc

 

[Abhishek s Jain]

Thank you for reply. Any idea about their fees? Is it expensive or cheaper than established players like Zerodha, Groww, etc

No, phone pe doesn't charge you anything. Because here phone pe is acting as a platform only. They connect to AMC only.

 

[Ram J]

Thank you for reply. Any idea about their fees? Is it expensive or cheaper than established players like Zerodha, Groww, etc

Hema, do check out whether they offer Direct Mutual funds / Regular MF’s. Direct MF’s are better since the commissions in those are less and you reap more benefits. Secondly, your investment in MF’s is secured as the money that you invest goes to the respective Asset Management Companies (AMC) while PhonePe / Paytm / Zerodha / Upstox earn a commission on your investment since the investment goes through their platform.