How to start SIP in PhonePe step by step 2026: Hello friends, in today’s article we are going to learn how you can start your SIP through the PhonePe app. Yes, now you can start your SIP using your payment app, because understanding and using this app will be a habit for you, so you won’t face any problems. So let’s understand. Please read complete article.
Why Phonepe Matters
In today’s digital age, there are many apps available in the market where you can start investing and SIPs (Systematic Investment Plans). My purpose in explaining how you can start a SIP on PhonePe is simply because PhonePe is a trusted company and user-friendly, so you can give it a try.
Read More: how to start investing in the stock market with 1000 rupees in India
What You’ll Learn in This Guide
- How to navigate PhonePe’s Wealth section
- Understanding different types of mutual fund categories
- How to analyze and select the best funds
- Complete SIP setup process with auto-pay
- Using SIP calculators to plan your wealth
- Managing your portfolio like a pro
Let’s start How to start SIP in PhonePe step by step
Step 1: Getting Started with PhonePe Wealth
Open PhonePe and Navigate to Wealth Tab
When you open the PhonePe app, you’ll see the main interface with several options at the bottom: Home, Credit, Insurance, Wealth, and History.
Click on the “Wealth” option. This is your gateway to the world of mutual fund investments!
Step 2: Exploring Investment Ideas
Understanding Investment Categories
Once you’re in the Wealth section, scroll down to find the “Investment Ideas” section. Here’s what you’ll find:
Best SIP Funds
- High Growth Potential: Funds selected by PhonePe’s research team
- No Lock-in Period: Withdraw anytime you want
- Perfect for Beginners: Easy to understand and invest
- Long-term Investment: Ideal for building wealth over time
Tax Saving Funds (ELSS)
- Save up to Rs 46,800 in taxes under Section 80C
- High growth potential
- 3-year lock-in period applies
- Popular choice for tax planning
Three-in-One Funds (Hybrid Funds)
- Invest in Equity, Debt, and Gold simultaneously
- Balanced risk approach
- No lock-in period
- Good for moderate risk-takers
Start with Rs 100
- Invest in India’s top 100 companies
- Large-cap funds with lower risk
- Minimum investment: Just Rs 100 per month
Understanding Mutual Fund Categories
| Fund Category | Market Cap Range | Risk Level | Return Potential | Best For |
|---|---|---|---|---|
| Large Cap Funds | Rs 20,000+ Crore | Low Risk | Moderate Returns | Conservative investors |
| Mid Cap Funds | Rs 5,000-20,000 Crore | Medium Risk | High Returns | Moderate risk-takers |
| Small Cap Funds | Below Rs 5,000 Crore | High Risk | Very High Returns | Aggressive investors |
| Index Funds | Tracks Index (Nifty 50, etc.) | Low-Medium Risk | Market Returns | Passive |
Step 3: Using Filters to Find the Perfect Fund
Exploring All Funds with Smart Filters
Click on “Explore All Funds” to see the complete list of available mutual funds.
Read Also: Top 7 Mutual Funds With the Highest Allocation to AI Stocks in 2025
Available Filter Options:
1. Category Filter
Select fund type: Equity, Debt, Hybrid, or Others
- Equity Funds: Flexi Cap, Large Cap, Mid Cap, Small Cap, Multi Cap, Tax Saving
- Debt Funds: Corporate bonds, government securities
- Hybrid Funds: Mix of equity and debt
2. AMC (Asset Management Company) Filter
Search by fund house name:
- Aditya Birla, Axis, DSP, Edelweiss, GROW
- HDFC, ICICI Prudential, Nippon India
- SBI, UTI, and many more
3. Risk Level Filter
Choose based on your risk appetite:
- Low Risk
- Moderately Low Risk
- Moderate Risk
- Moderately High Risk
- Very High Risk
4. Returns Filter
Sort by returns: High to Low
5. Fund Size Filter
Sort by AUM (Assets Under Management): High to Low
6. Minimum Investment Filter
Sort by entry amount: Low to High
Step 4: Understanding Fund Categories in Detail
Large Cap Funds
What are they? Funds that invest in companies with market capitalization of Rs 20,000 crore or more.
Examples: Reliance, TCS, HDFC Bank, Infosys, ITC
Risk: Very Low
Returns: Moderate but stable
Best for: Investors who want safety and don’t want to take much risk
Mid Cap Funds
What are they? Funds investing in companies with market cap between Rs 5,000-20,000 crore.
Growth Potential: High chances of becoming large cap companies
Risk: Medium to High
Returns: Higher than large caps
Best for: Investors willing to take moderate risk for better returns
Small Cap Funds
What are they? Funds investing in companies with market cap below Rs 5,000 crore.
Growth Potential: Can become future mid cap or large cap companies
Risk: Very High
Returns: Potentially highest returns
Best for: Aggressive investors with long investment horizon
Index Funds
What are they? Funds that mirror a specific market index like Nifty 50 or Sensex.
How they work: If you invest in a Nifty 50 Index Fund, your money is invested in all 50 companies of Nifty in the same proportion.
Example: If TCS has 4% weightage in Nifty 50, then 4% of your Rs 1 lakh investment goes to TCS.
Risk: Low to Medium
Returns: Match market performance
Why called Passive Funds: No active fund manager decisions – just follows the index
Step 5: Using SIP and Wealth Calculators
SIP Calculator
Want to know how much wealth you can create? Use the SIP Calculator!
Example Calculation 1:
- Monthly Investment: Rs 10,000
- Time Period: 15 years
- Expected Return: 15% per annum
- Total Investment: Rs 18,00,000
- Returns: Rs 43,63,600
- Final Amount: Rs 61,63,600
Example Calculation 2:
- Monthly Investment: Rs 25,000
- Time Period: 15 years
- Expected Return: 15% per annum
- Total Investment: Rs 45,00,000
- Returns: Rs 1,09,09,000
- Final Amount: Rs 1,54,09,000
Wealth Calculator
Set a target amount and find out how much to invest monthly!
Example:
- Target Wealth: Rs 50,00,000
- Time Period: 15 years
- Expected Return: 15% per annum
- Required Monthly SIP: Rs 8,122
- Total Investment: Rs 14,61,960
- Returns: Rs 35,38,040
Step 6: Analyzing a Mutual Fund Before Investing
Understanding Fund Details
Let’s take Nippon India Growth Fund as an example to understand how to analyze any fund.
Read About 5 Best Mutual Funds 2026 In India According To Microsoft Copilot AI
Key Details to Check:
| Parameter | Details | What It Means |
|---|---|---|
| 3-Year Returns | 26.9% | Average annual return over 3 years |
| 5-Year Returns | 24.9% | Average annual return over 5 years |
| Since Launch Returns | 22.58% | Average return since October 7, 1995 |
| Fund Size (AUM) | Rs 24,365 Crore | Total money invested in the fund |
| Launch Date | October 7, 1995 | When the fund started |
| Lock-in Period | Zero | Can withdraw anytime |
| Risk Level | Very High | Suitable for risk-takers only |
| Fund Category | Equity – Mid Cap | Type of fund |
| Expense Ratio | 1.67% | Annual management fee |
| Current NAV | Rs 3,262.27 | Price per unit |
| Exit Load | 1% (if redeemed within 30 days) | Penalty for early withdrawal |
Understanding NAV (Net Asset Value)
What is NAV?
NAV (Net Asset Value) is the price at which you buy mutual fund units.
Simple Example:
Suppose you invest Rs 10,000 in a fund with NAV of Rs 200.
Units you get: 10,000 ÷ 200 = 50 units
After 1 year, if NAV increases to Rs 250:
Your investment value: 50 units × Rs 250 = Rs 12,500
If you redeem with 1% exit load:
Exit load: Rs 250 – (250 × 1%) = Rs 247.50
Final amount: 50 × Rs 247.50 = Rs 12,375
Step 7: Starting Your First SIP Investment
Complete SIP Setup Process
Choose Investment Type
You have two options:
- One-Time Investment: Lump sum amount invested once
- Monthly SIP: Regular monthly investments (Recommended for beginners)
For Monthly SIP:
- Enter Amount: Minimum Rs 100 (we’re using Rs 1,000 as example)
- Click: “Proceed to Invest”
- Choose SIP Date: Select monthly deduction date
- Salary on 1st? Choose 5th
- Salary on 5th? Choose 10th
- Salary on 10th? Choose 15th
- Confirm Amount: Enter your monthly SIP amount
- Click: “Invest Now”
Step 8: KYC and Personal Details
Complete Your KYC Process
Enter Following Details:
- PAN Number: Your permanent account number
- Click: “Let’s Begin”
- Confirm PAN Details
- Email ID: Your email address
- Father’s Name
- Date of Birth
- Gender: Male/Female
- Annual Income: Select your income bracket
- Relationship with Nominee
- Nominee Name
- Marital Status: Married/Unmarried
- Check all three boxes
- Click: “Proceed”
✓ OTP Verification: You’ll receive a 5-digit OTP on your mobile number
✓ Enter OTP and Submit
✓ Your KYC is Complete!
Step 9: Setting Up Auto-Pay (Mandate)
Enable Automatic Monthly Payments
Auto-Pay Setup Process:
- Receive Second OTP: Another OTP will be sent to your mobile
- Enter OTP and Submit
- Choose Bank Account: Select the bank account for auto-debit
- Click: “Apply”
- Click: “Invest and Start SIP”
- Enter UPI PIN
- Click: “OK”
Congratulations!
- Payment Complete
- Auto-Pay Set for monthly deduction
- Your SIP has started successfully!
FAQs
Q1: What is the minimum SIP amount on PhonePe?
Minimum varies by fund; many funds accept ₹100 as minimum. Always check the fund page.
Q2: Can I set SIP via UPI on PhonePe?
Yes. PhonePe supports UPI Autopay for SIP mandates.
Q3: How to switch from Regular to Direct plan?
You cannot change an existing investment’s plan. For direct plan benefits, start a new SIP with the Direct option or invest through platforms that allow Direct plans.
Q4: Where do I cancel a SIP?
Cancel from PhonePe SIP details or revoke the UPI mandate from your UPI/Bank app (if it was set up via UPI).
Q5: Is PhonePe safe for mutual funds?
PhonePe acts as a distributor/aggregator for mutual funds; the funds are held by AMC/registrar. Always confirm details on the fund page and keep records.
Disclaimer: All things I tell you in this article is only from internet based you visit official website of phonepe for more information and we are not responsible for any loss.
Ajay Yadav is a financial writer who simplifies money, savings, and investing for everyday readers. He creates easy-to-understand content that helps people make smarter financial decisions and build long-term wealth.
