Groww App Review – A 2 Minute Read To Answer All Questions

Groww App Review

Do you still keep your money in banks and feel it is safe? Let me tell you it’s not safe from inflation.

Are you afraid of investing in mutual funds and stocks because you have a lot of doubts about online investing apps like Groww.

This Groww App Review article will solve all your doubts about online investments. 

Returns on bank savings accounts, FD’s and RD’s are decreasing day by day but still a lot you might be keeping all their savings in the banks 

fearing that mutual fund and stock investments are very risky as you cannot trust these various new online platforms.

I am writing this article to clear a lot of doubts around one of such online investment platforms called Groww App.

Millennials in 2021 are aware that to multiply money in the long run the only option left is equity or you can say the stock market.

As per this article, the mutual fund investments in stock markets increased by 4 times this year.

Once investing in the stock market was a very difficult, time-consuming process that kept a lot of investors away from the markets.

A few years back investing in stocks or mutual funds was considered as an investment option for elite or financial experts.

If a common man wanted to invest in equity then he had to go through relationship managers and also do frequent visits to banks.

But thanks to the digital revolution that made it so easy that investing in the stock market and mutual funds are now at your fingertips.

One of the India-based apps which are at the forefront of this digitization of investing is Groww.

In this article, we are going to do an in-depth Groww App Review and Analysis and try to solve your all queries and doubts around this app.

You will not have any more fears or doubts around online investments and can go ahead to leverage technology to grow your money in the long term.

What Is Groww App?

Groww App is a totally India-based online investing platform that has its headquarters in Bangalore developed by 4 Flipkart employees. 

In 2016 Harsh Jain, Lalit Keshre, Ishan Bansal, and Neeraj Singh quit their job to start a venture called Groww which became operational in December 2017.

Since then Groww has had an amazing growth trajectory and has increased its customer base to 10 million.

There is no doubt that apps like Groww have contributed a lot in attracting the common man and employee class into mutual funds and stocks in recent years because of user-friendliness and ease of account and investing.

Is Groww App Safe?

Is Groww App Safe

The biggest doubt you might have is

Is Groww app trustworthy? 

Let me tell you that Groww is SEBI Registered advisor which is under the name Finvantage Investment Adviser Private Limited.

You can find their Registration Certificate on the Groww website. 

Also, they have mentioned that they maintain total security to user data and use bank-level security on their platform. What that means is Groww is 100% safe.

What If Groww App Shuts Down?

That’s a very valid question, everything is going well now people are investing through Groww but who knows the future, and what if Groww App shuts down tomorrow what will happen to our hard-earned money.

Groww implements BSE Star MF (BSE Limited Platform for Allotment & Redemption of Mutual Fund Units) Process Flow for all its transactions.

What If Groww App Shuts Down


That means that all transactions that you do on Groww are direct with respective Mutual Funds AMC’s and Groww is just a platform to facilitate these transactions.

So even though the Groww App shuts down in the future you can continue your investments with Mutual Fund AMC’s directly.

Groww App Investment Options

Groww provides various investment options into both Mutual Funds as well as directly into Stocks.

The Groww dashboard is very simple and easy to use with clear options and menus.

Groww Mutual Funds

Once you register into Groww App by default you can start investing in Groww Mutual Funds.

You need below to register to Groww:

  1. Mobile No.
  2. Adhaar Card
  3. PAN Card
  4. Bank Details
  5. Phone Camera

Please note Groww account opening and KYC verification is completely digital, you have to upload documents and do the digital signature.

However, the entire process is very easy and step by step not a very tedious task.

After registration, you can search different mutual funds, look through their details and performance over the year and invest.

Features

  1. SIP/ Lumpsum/ STP Investment
  2. Invest More Into Existing Fund
  3. Redeem From An Existing Fund
  4. Switch From Regular To Direct Fund
  5. STOP/ CANCEL An Existing SIP

Groww Demat Account For Stocks

Recently Groww has started opening demat account as well which too is a complete online process.

Features

  1. Buy/ Sell Stocks
  2. Futures and Options
  3. Apply For IPO’s

This means Groww is no more just a mutual fund investment app but also a full-fledged equity investment platform too.

You can have all your investments in one place including FD, Mutual Fund, Stocks, F&O, and with the recent inclusion of US Stocks, it’s a complete portfolio platform.

Groww App Charges

Mutual Funds: Free

Investments into Mutual Funds are completely free on Groww.

Account opening Charges = 0

Transaction Charges = 0

Groww App Charges

Groww Stocks: Charges apply

As you can see below no account opening charges or account maintenance charges but Groww brokerage charges on equity and F&O transactions are as below.

Account Opening Charges = 0

Account Maintenance Changes =

Equity Brokerage = Rs. 20 or 0.05% per executed order

Future & Options Brokerage = Rs. 20 per executed order

Groww Demat Account

Is Groww Really Free?

Is Groww really free

From the above charge structure, you can say it’s free but also not free.

If you are using Groww to invest in Mutual Funds then it’s completely free whereas if you are using Groww for Stocks or Trading then you have to pay some charges.

Mutual Funds = Free

Stocks/ Trading = Charges Apply

How Does Groww App Earn?

Mutual fund investments are completely free for customers on Groww,  so might be making some commissions from mutual fund companies but that revenue could be not that much.

Groww has created a customer base of more than 10 lakhs and now they have come up with Stock buy/ sell and Intraday paid services.

I think Groww will try to monetize this huge customer base with new services as customers usually like to use various services on one platform and are reluctant to change investing platforms frequently due to small charges.

Also as Groww is the digital platform they can leverage technology to keep their operational cost low and increase their customer base which in turn will increase the revenue.

Which App Is Better Zerodha Or Groww?

Which app is better Zerodha or Groww

I have heard about some positives of both apps from people. Few like the look and feel of Zerodha whereas others like the simplicity of Groww.

I will give you a comparison between the two and you can decide which fits better for your needs.

 ZerodhaGroww
First Discount BrokerNew In Discount Broking
Customer Base40 lakh+10 lakh+
ChargesAccount Opening = Rs. 300/ YearAccount Maintenance = Rs. 300/ YearAccount Opening = Rs. 0Account Maintenance = Rs. 25/ Month = Rs. 300/ Year
BrokerageMax Rs. 20/ TransactionMax Rs. 20/ Transaction
DP ChargesRs. 13.5Rs. 13.5
Margin5x – 20x5x – 8x
Investment OfferingsStocks
Mutual Funds
F&O
IPO
StocksMutual Funds
F&O
IPO
US Stocks
Gold
FD

My Groww App Review

Groww is one of the well-known apps for mutual funds and stock investment. It is totally safe and secure. I am sure you will like and enjoy the simplicity of this app.

Another reason why I prefer Groww for Mutual Fund investment is Groww’s Wallet. You can keep some money in your wallet and wait for opportunities in the market.

And when time is right directly transfer money from Growwwallet to the fund you want to invest in a single click without having to transfer money from the bank to Groww through NEFT which might take some time.

Investing has never been this easy, you can invest your money easily at your fingertips from anywhere anytime, and absolutely.

This was a complete Groww App Review, so go ahead and start your investment journey by creating an account with Groww.

Click on the button below to open a Groww account with my Referral Code and earn Rs. 100 instantly.

If you want to know how to select and start investing in mutual funds as a beginner then do read the article here.

Also, let me know if you have any queries then do comment below and I will try my best to solve the same.

Frequently Asked Questions

Does Groww app charge commission on mutual funds?

No, Groww offers commission free mutual fund investments for investors.

How good is Groww app?

Groww is very good and a clean investment platform. Very easy to use. It is one of the fastest growing investment platform in India.

Groww app is safe for investment?

Groww app is 100% safe and secure for investments. They are SEBI registered. Your investments are directly with AMC’s, Groww is just a platform to make the transactions easy.

Is Groww app safe for stocks?

Yes, it is completely safe. All your transactions are with NSE and BSE, Groww is just a platform to make this transactions easy.

Groww account opening charges

There is no account opening or maintenance charges on Groww.

Is Groww app free?

Account opening, maintenance and mutual fund investments are totally free for investors. However, there are brokerage charges that apply only on stock trading.

How to do STP in Groww

To do STP you first have to transfer your fund to any debt fund of the same AMC in which you want to do STP.
Then you will find an option in debt fund itself to Start STP, follow the step select the fund to start STP into and done.

What if Groww shuts down?

There is no issue if Groww app shuts down. All your mutual fund investments are safe with respective Asset MAnagement Companies and stocks are safe with NSE and BSE.

Conclusion

I hope you enjoyed this post about the Groww App. Now you know a lot more about this app and hopefully you will be able to use it to grow your investments.

If you have any questions about the Groww app, please feel free to comment below.

Also Read

How To Invest In Mutual Funds For Beginners In India

You Will Never Ask Again How To Achieve Financial Freedom

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