Do you also want to invest?
If you keep yourself away from investing in mutual funds, then, from now on, you will not be able to keep yourself away.
Because we are going to do a Groww mutual fund app review today.
And we will know whether the Groww app is Good or bad for you?
And we will also know What happens if Groww shuts down?
Many of us would not like to make a risky investment.
And this is also true.
We would not like to invest our hard-earned capital the same way.
First of all, let me be clear that this is not a paid post.
Whatever I say in this groww app review
article today, I will say based on my experience.
So if you want to grow your money and that too in a safe way, then a mutual fund is the right option for you.
Many will say, safe investment does not give much return. But that thing is 100% wrong.
You can earn a very good and attractive return by investing safely in mutual funds through Groww mutual fund app.
There are many platforms to invest in mutual funds like Zerodha also.
Of all the platforms, I am going to tell you about the platform that I am using today, whose name is Groww app.
So before doing Groww mutual fund app review, let’s know what is Groww app?
Groww Mutual fund App Review: What is Groww App?
Groww is an investment platform where investors can invest in direct mutual funds as well as stocks.
Groww is not just an app.
If we talk about groww app, Groww started in the year 2016 as a mutual fund investment platform.
The headquarters of Groww is located in Bangalore, Karnataka.
First of all, let me tell you that the Groww app is available for both Android and iOS.
Investors can invest in mutual funds using this app. And now you can also invest in stock.
There is a fairly easy way to invest in mutual funds and free of cost.
Investors only have to buy and sell.
No paperwork will be required.
You can invest in mutual funds directly and also start SIP with zero commission.
The plus point of the Groww platform is transparency.
Groww App KYC
There are 2 methods to invest in the Groww app which are mentioned below:
You can invest through websites. Websites can be easily operated in computer as well as mobile.
If you don’t want to go with a website, no problem.
You can go with Groww Application.
But remember, verifying KYC is compulsory to invest in mutual funds.
If you do not have KYC verified then Groww App will help you to get KYC verified online.
You cannot start investing without KYC verified.
Follow the steps given below to verify KYC:
Step 1: Upload your PAN Card and Address Proof
(Note: But if you are already KYC verified, then you will be required to upload only your PAN card.)
Step 2: After PAN card, you need to upload a bank statement or you can upload a cancel cheque.
Keep in mind that the bank statement or cancel check should be from the same bank from which you are going to invest in the mutual fund.
Who is the Groww app owner?
Nextbillion Technology is the Groww app owner.
As far as the key people are concerned, Harsh Jain, Ishan Bansal, and Lalit Keshre are key people.
All are the formal employees of Flipkart.
So Let’s know about the Groww app features
Groww App Features
Invest in any fund: The entire bucket is presented in front of the investors. Of which, investors can invest in any fund.
In this, if you want, you can invest a lump sum amount together or you can also do a SIP (Systematic Investment Plan).
If you want to keep your SIP fixed then you can keep it.
Your fixed SIP will be debited from your linked account every month through the Groww app.
And any mutual fund you have selected will be added to it.
- Increase portfolio: If you want, you can increase your investment by adding more money to your current portfolios.
- Easy to redeem money: Through the Groww app, you can redeem your invested money with one click.
If you want to stop your SIP in an emergency or for some reason, you can stop or cancel your ongoing SIP if you need money.
- Switched Fund : You can easily switch from regular funds to direct mutual funds through the Groww platform.
Some New Groww App Features:
- Invest through UPI: Now you can invest through UPI (Unified Payments Interface) on Groww app.
- Portfolio Insight: Do you want to know how your investment portfolio is working? You can check using Portfolio Insight Feature.
- Easy Comparison: By comparison in any field, it will be a good habit for us to see which option will prove to be the most beneficial for us. Do you have any?
Here investors can compare various funds before investing in any of the funds.
[ Notes: Investors can compare 3 mutual funds simultaneously.]
- Transparency: Transparency is mandatory in any work. And when it comes to money, there is the issue of transparency first.
Investors can view all their payment history on the Groww app.
All SIP payment history will be seen in a clear way.
Why Groww? What’s so special about the Groww platform?
Investors can use the Groww app through the website and mobile.
Talking about the user experience, there is a great experience on both platforms.
Apart from this, the Groww app is easy to use.
Developers of the Groww app keep updating the daily needs and wants of the users so that the user experience can be enhanced.
Groww answers its investor queries as soon as possible and this is a good thing.
How Groww app make money?
Just like I said, Groww provides mutual fund transactions directly to AMC.
And Groww does not charge a commission from its users.
Now if Groww does not charge the commission then How does Groww app make money?
Groww makes money by providing its premium service.
Groww earns profit through investment and portfolio advisory services.
You Can Also Read:
FAQ on Groww App Review
Is It Safe to Invest Through Groww App?
The Groww App is absolutely safe and reliable.
The Groww app platform includes high grade bank security features.
The Groww Platform is operating the BSE Star Mutual Fund transaction platforms.
Through all transactions, funds are directly allocated to the AMC (Asset Management Company).
Do you know What happens if Groww shuts down??
Suppose that if Groww is closed, what will happen to the investors’ money?
Don’t worry. If Groww is closed, investors can continue their transaction with AMC.
Remember, Groww is a mediator only. All investment by investors is safe and secure.
Groww is registered under SEBI (Security Exchange Board of India) under the name of Finvantage Investment Advisor Private Limited.
Finvantage Investment Advisor Private Limited is registered in Bangalore. And SEBI registration number is INA20008981.
Is Groww app registered with SEBI?
Yes.The Groww app is registered with SEBI. Groww platform is registered under Finvantage Investment Advisor Private Limited
What documents are required to use the Groww app?
So to invest on the Groww app, following documents should be necessary:
1. Pan Card
2. Aadhar Card
3. Internet Banking
4. Bank Details
Which app is better Zerodha or Groww?
Zerodha and Groww are both discount brokers.
Among Zerodha and Groww, Zerodha is slightly ahead of Groww in terms of ratings.
On the comfort and user experience of investors, decide which platform is the best? someone finds zerodha proper, someone likes Groww.
But overall Zerodha is slightly better than Groww. But I am comfortable with Groww.
Is Groww Demat account safe?
Yes. The Groww Demat account is secure and safe
One more thing, this Demat account is held by CDSL (Central Depository Services Ltd). All the shares held by Demat account are held by CDSL, not with Groww.
Is there any hidden charges in Groww app?
No. There are no hidden charges. Groww all is free for mutual fund investment. There is no redemption and transaction charge.
You can also open a free account with no hidden charges.
Conclusion on Groww Mutual fund App Review
In the Groww Mutual Fund App review, you might have found out whether the Groww app is appropriate for you or not?
But to be honest, just by reading the article, you will not feel the user’s experience.
Groww is a safe and secure platform.
If you want to invest in mutual funds, you can grow your investment portfolio through Groww.
I hope you liked this article of mine.
Thank you for your valuable time.