PhonePe Mutual Fund Investment 2024

• Share.Market Review
• Demat Charges
• Trading Platforms
• IPO
• Mutual Fund
• Account Opening
• Product & Services
• FAQs
• Active Customers

PhonePe Wealth Broking Ltd (PPWB) is an AMFI registered mutual fund distributor to provides mutual fund investment facility to its customers. To invest in mutual funds with PhonePe, all you need to do is complete KYC registration process and once done, you can start a SIP in any mutual fund scheme of your choice. PhonePe app is a dedicated mutual fund platform to purchase and sell the mutual fund scheme of your choice. PhonePe mobile app has thousands of equity, debt, and hybrid MF schemes available to choose from.

Let's quickly review PhonePe mutual fund app features, how to start mutual fund SIP using the PhonePe app, MF brokerage charges, and more.

PhonePe Wealth Mutual Fund KYC Registration

You must be a KYC compliant to invest in mutual funds with PhonePe Wealth. KYC registration is a one-time process and you can do it online. If you have not yet registered KYC, when you buy any mutual fund plan on PhonePe app, the app will ask for KYC registration.

How to register KYC for mutual fund investment with PhonePe;

1. Log in to PhonePe app.
2. Select your choice of scheme.
3. Enter order details for SIP or lumpsum based on your preferred mode of investment.
4. Now, enter your PAN card number and verify it.
5. Tap Start KYC to re-verify your PAN details, and click on Proceed.
6. Enter your aadhaar card number and validate it with OTP to proceed with DigiLocker KYC.
7. Allow access to PhonePe to fetch your aadhaar card and e-PAN card from your DigiLocker account.
8. Click and upload a Selfie, fill in personal details, and upload your signature.
9. Tap Next and enter your aadhaar card number and OTP to digitally sign KYC application.
10. Link a bank account to PhonePe Wealth for mutual fund transactions (purchase or redemptions).
11. Provide UPI details and accept the mandate sent to your UPI App to make payment.
12. It's done, you have successfully registered mutual fund KYC and also your investment is successful.

To check your KYC Status on PhonePe, login to the PhonePe app >>> Wealth >>> My Portfolio >>> My account, and your KYC verification status will be displayed.

How to invest in Mutual Funds with PhonePe Wealth?

PhonePe Wealth offers mutual funds on its PhonePe app. So, you can buy and sell any mutual fund scheme of your choice using the PhonePe Mobile App. Its Share.Market app and web platform do not have mutual funds available.

PhonePe is the first broker to offer a UPI-based AutoPay facility for auto-debit of mutual fund SIP installments.

How to start SIP in mutual funds on PhonePe?

1. Login to the PhonePe App.
2. Tap on the "Wealth" option in the bottom.
3. Select your choice of mutual fund scheme.
4. Select the investment type as "Monthly SIP" or "One-time".
5. Choose "Monthly SIP" option to invest via SIP mode.
6. Enter the SIP investment amount, select a date, and tap on "Invest Now".
7. Enter your UPI or bank account details, and click "Pay and set autopsy"
8. Enter your UPI PIN to setup monthly SIP investment.

How to do lumpsum mutual funds investment in PhonePe App?

1. Login to the PhonePe mobile App.
2. Tap on the "Wealth" option.
3. Select mutual fund, you want to invest for.
4. Select the investment type as "One-time" for lumpsum investment
5. Enter the investment amount and click "Invest Now" button.
6. Enter your UPI or bank account details and hit Pay.
7. Upon payment, you've successfully invested in mutual fund.

PhonePe Wealth Mutual Fund Brokerage

No brokerage, yes, PhonePe Wealth does not charges any brokerage fee on mutual fund investment. You can buy and sell any mutual fund across categories – equity, hybrid, debt, and ELSS tax-saving schemes using PhonePe app.

PhonePe Wealth only offers regular mutual fund schemes that have 1-1.5% higher expense ratio than direct mutual funds. This commission is being paid to the broker by AMC which results in lower returns on investment.

But, when you buy direct plans, you will get 1-1.5% extra returns and which may be huge in long-run. So, if you are only looking to invest in mutual funds only, then top discount brokers, Groww and Zerodha are the best brokers that allow investment in direct mutual funds for free.

PhonePe Mutual Fund Investment App Platform Features

PhonePe app is a dedicated platform by PhonePe Wealth for mutual fund investment. Here are the features available;

• Tie-ups with 21 mutual fund houses, including HDFC, ABSL, DSP, Axis, ICICI, Kotak, Tata, SBI, etc
• Invest across equity, debt, hybrid, and other MF categories
• Discover Investment Ideas like Best SIP Funds, Tax-Saving Funds, Top Performing Funds, Top Companies Funds, etc.
• Start SIP wit as low as Rs 100 per month
• Flexibility to invest, stop, and withdraw your mutual fund investment anytime on PhonePe App.
• Zero mutual fund brokerage charges
• Invest in ELSS tax-saving schemes and save tax upto Rs 46,800 a year.
• Instant, paperless, and hassle-free mutual fund investment process
• Invest via SIP or One-time lumpsum mode
• UPI enabled AutoPay facility for SIP investment

PhonePe Mutual Fund Investment Disadvantages

• PhonePe app does not provide direct mutual funds.
• PhonePe has limited availability of Funds from 21 Mutual Fund companies, however, leading discount brokers like Groww platform has 5000+ MFs from 35+ AMCs, and Zerodha provides Direct MFs from 40 + AMCs.