Groww Review

Groww is a popular, SEBI registered investment adviser. All personal information entered on the platform is stored using 256-bit encryption. Also, all transactions are done through Asset management companies (AMCs) for mutual funds & Bombay Stock Exchange (BSE) for stocks, which means that at no stage does your money reach the company itself.

The Demat account and trading account opening charges with Groww are free. The annual maintenance charge is also free. Additionally, there is no margin money requirement. 

Groww charges an Rs.20 per order or 0.05% whichever is low for Equity Delivery, Equity Intraday, Equity Futures, Equity Options. Commodity & Currency trading is presently not available with Groww.

Groww is a discount broker which is aimed at providing modern online-based financial solutions to its clients at a minimal cost.

Groww is a SEBI registered member under the name of NextBillion Technology Private Limited.
 

The Groww app is quite popular among investors and traders who wish to invest in mutual funds, SIPs and stocks. The app is popular on Google play store as well and has got a good rating, with many positive reviews from its customers. Additionally, Groww is a technologically advanced mobile application. They have adopted all the safety measures of digital investment, which makes them a safe investment platform for all the existing as well as new investors and traders.

Groww offers services to investors and in-turn charge additional fees like account opening charges, account maintenance charges, brokerage charges, transaction charges, clearing charges, etc. Apart from these, there are other associated charges like taxes (GST, STT), SEBI charges etc, which are often overlooked by investors. It is important to remember that some of these charges depend upon the transaction value.

Click the link  to know more about the Groww Brokerage Charges.

You can withdraw money from the Groww app, as well as the Groww website by following the below steps:

Step 1: Login to Groww and tap on ‘You’. After this, tap on your ‘Groww balance’

Step 2: Tap on ‘Withdraw’

Step 3: Enter the amount you want to withdraw and then click on ‘Withdraw’

After this, the withdrawn money will be credited to your account instantly. Please note that if the amount is more than Rs 25,000 then it will process along with the bank working hours.

Yes, it is possible to permanently delete an account on Groww, but only through the offline process. 

You can follow these steps to close your demat account:

1. Download the ‘Account Remove/Close’ form (the form is available at the app & website both).

2. Fill the required details like client id and other necessary details.

3. Send the same to their head office.

4. Your account will be closed in 10-12 business days.

In case any mutual fund brokers such as Groww shuts down, your account will still be active with the corresponding mutual fund house. This way, you can directly reach out the mutual fund house and enquire about the current status of your account and investments with them.

After following all the necessary steps to open a demat account on Groww, you will see a success screen that says ‘Signed successfully‘, followed by ‘ you can start investing now’. Click on ‘Let’s start’ to proceed. You will be directed to the home screen. Please note that it might take a few hours for the verification of your account opening form, which will be completed within 24 hours.

For starting out in the stock market and begin trading and investing, one of the first things that you will need is a ‘Demat account’. A Demat or a dematerialized account is an account for traders which is used to hold shares and securities in electronic format. It is similar to a bank account; the only difference being, a bank account holds cash and the Demat account holds shares and other securities.

Hence, for using any investment app like Groww, an investor must have a demat account.

Yes, Groww demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). Groww acts as only an intermediary between the customer and the central depository.

To withdraw money from your Groww account, proceed with the following steps:

1. Log in to your Groww account, click on “You” and then click on “Groww Balance”.

2. Tap on “Withdraw”.

3. Enter the amount you wish to withdraw and click on the “Withdraw” button.

The withdrawal amount will be credited to the user’s account within 24 hours.

Yes, you can transfer your existing mutual fund investments to Groww. You can do this by importing your investments from your existing platform. To do this, follow these steps:

1. Go to your Groww profile and click on "You".
2. Click on "Track Existing Investments".
3. Enter the email address that is linked to your mutual fund investments and click on "Request Report".
4. You will receive an email from MFCentral with a link to your investment report. Click on the link and download the report.
5. Go back to Groww and click on "I have mailed".
6. Upload the investment report that you downloaded from MFCentral.

Once you have uploaded the report, Groww will import your investments within 10-15 minutes.

Please note that you cannot transfer a SIP from another platform to Groww. However, you can stop your SIP from the platform you have invested in and then start a SIP on Groww.

Yes, your money is safe with Groww. Groww is a registered SEBI broker and AMFI registered mutual fund distributor. This means that it is regulated by the Securities and Exchange Board of India (SEBI), the government body that regulates the Indian securities market. SEBI has a number of rules and regulations in place to protect investors, and Groww is required to comply with all of them.

Yes, Groww provides IPO and FPO services. You can use Groww to apply for IPOs and FPOs online. To do this, you need to have a demat account with Groww. If you don't have a demat account, you can open one for free on Groww.

To apply for an IPO or FPO on Groww, follow these steps:

1. Go to the Groww app or website and log in to your account.
2. Click on the "IPO" tab.
3. Select the IPO or FPO you want to apply for.
4. Enter the number of shares you want to apply for and the price you are willing to pay.
5. Click on "Apply".

Groww will submit your application to the exchange on your behalf. If your application is successful, you will be allocated shares in the IPO or FPO.

Yes, you can set up a SIP (Systematic Investment Plan) on Groww. To do this, follow these steps:

1. Go to the Groww website or app and log in to your account.
2. Click on the "Mutual Funds" tab.
3. Select the mutual fund you want to start a SIP in.
4. Click on the "Invest Now" button.
5. Select the "SIP" option.
6. Enter the amount you want to invest each month and the start date for your SIP.
7. Click on "Invest".

Groww will automatically debit the amount you have specified from your bank account each month and invest it in the mutual fund you have selected.

You can also set up a step-up SIP on Groww. This means that you can gradually increase the amount you invest each month. To do this, follow the steps above and then click on the "Add Step-Up" button. Enter the amount you want to increase your investment by each month and the start date for your step-up SIP.

Yes, there is a minimum investment amount on Groww. The minimum investment amount varies depending on the type of investment.

• Mutual funds: The minimum investment amount for mutual funds on Groww is ?100 for both lump sum investments and SIPs.
• Stocks: The minimum investment amount for stocks on Groww is ?100.
• ETFs: The minimum investment amount for ETFs on Groww is ?100.

Please note that these are the minimum investment amounts required by Groww. Some mutual funds and ETFs may have a higher minimum investment amount.

To contact Groww's customer support team, please send an email on support@groww.in and they would resolve your issue at the earliest. You can also call at customer care number +91-9108800604. Groww's customer care support team is available 24*7.

• Equity Delivery: Rs. 20 or 0.1% per order, whichever is lower. A minimum charge of Rs. 2 applies.
• Equity Intraday: Rs. 20 or 0.1% per order, whichever is lower. A minimum charge of Rs. 2 applies.
• F&O: Rs. 20 per order.

You can use Groww's Brokerage Calculator to get an accurate estimate of the charges for your specific trade. This calculator takes into account all the applicable charges, including brokerage, taxes, and other fees.

Currently, Groww does not offer any specific plans or discounts to reduce brokerage charges. However, you can minimise your charges by placing fewer orders and opting for delivery-based trades instead of intraday.

Groww offers a simple and transparent pricing structure for equity trading:

• Rs. 20 per order or 0.1% of the traded value, whichever is lower.
• A minimum charge of Rs. 2 per order applies.

For F&O trading, Groww charges a flat fee of Rs. 20 per order.

Apart from brokerage, there are other charges that may apply, such as:

• Securities Transaction Tax (STT): A government-imposed tax on securities transactions.
• Exchange Transaction Charges: Fees charged by stock exchanges like NSE and BSE.
• SEBI Turnover Charges: A fee levied by the Securities and Exchange Board of India (SEBI).
• Stamp Duty: A state government-imposed tax on various financial transactions, including stock trading.
• GST: Goods and Services Tax on the total brokerage and other applicable taxes.

Groww offers a free demat account. There are no annual maintenance charges (AMC) for the demat account.

Groww is committed to transparency and there are no hidden charges. All charges are clearly outlined and can be calculated using Groww's brokerage calculator.

For a detailed breakdown of all charges and a precise calculation, you can use Groww's Brokerage Calculator.