What is Groww App?

What is Groww App?

Mutual funds  have now because the go to saving and investment option across India.
This can be attributed several factors including rising awareness due to popular " mutual funds sahi hai"  campaign, red internet penetration, rise of equity markets and so on.

Having understood the benefits of investing regularly in mutual funds, people are exploring and looking out for best platform and advisers to invest in mutual funds.

Groww app is a platform which helps you invest in more than 3000 mutual funds from a single place.

You can not only just invest in mutual funds but track your portfolio online using it's platform.

In this post, let us explore Groww mutual fund investing  App through some of the common question. You may have in your mind.

How does Groww App  in make money?

The first and foremost question which may come because anyone's mind is how does Groww app make money? 

A business can't survive without making profits right? 

It is important to note that Groww app does not charge or get commission directly from the mutual fund as direct funds ( and not regular fund)  where commission are offered to the advisers or agent  are available on the platform.

Groww app makes money by offering advisory services and add on premium features to its users.

How is Groww app compared to Kuvera? 

 Groww App and Kuvera both platform offer almost similar feature and both are free to use platform allowing investment in direct plans of mutual funds.

On a personal level, I find the user interface of Kuvera more intuitive as compared to that of Groww.

Having said that, this is a personal opinion and other individuals may find the UI of Groww better than Kuvera.

I would recommend you to sign up on both the platform , explore them and then select any platforms based on your liking.

What is the commission structure of Groww and charges? 

As mentioned earlier, Groww app provides direct mutual funds which do not  any fees or commission .

It doesn't charge any fees or commission from its users as well for availing their service or using the platform.

Groww app may however charge  for add on services like portfolio / investment advisory, premium features on the platform etc.

Is Groww sebi registered?

Yes, Groww is sebi registered adviser in the name of finvsntage investment Adviser private limited bases out of Bangalore.

Their registration number is INA20008981 .

I can check out their certification of registration with AMFI and BSE.

Is Groww App safe ?

Groww App is fully safe and secure. Groww App has mentioned on their website that the user's data is 100% safe and their employ bank grade security features in their platform.

It users BSE star MF platform for transaction.

All your investment are directly with the respective mutual fund AMC. So in case of any unfortunate reasons, if Groww shuts down, you can still continue your investment redeem or maintain a relationship directly with the AMC

Groww App is just a platform.

Best way to invest in mutual funds

Almost every financial year, a lot of people plan to start mutual fund investment or think of managing their investment portfolio, but get too intimidated by the complex invested world and traders.

For anyone who is looking for easy and quick investing options, the app world offers plethora of mobile apps to dispel any investment woes. 

We bring you the best app, which make investments uncomplicated and ensure that money management remains in your hand.

Now let's check the Groww App.

👉 First you need to install the Groww App from the PlayStore/ app store 

👉 After installing the Groww App you need to complete some e-by-c verification in which you will need to give your pan card, aadhar card, bank details and signature.

👉 No need to do any pagework also you don't need any agent for verification.

👉 After the verification process complete you can start investing now.

👉 When you open the App, it will ask the security check to open the app if you set any passcode, now enter in this app without your permission.

👉 In handpicked collection :- I'll see : Too Tax saving funds. If you invest in ELSS then you can save up to rupees 45000.

👉 Top low risk funds.
     Top high return funds.
     Balance return and risk.
     Top large cap funds.
     Top small and mid cap funds.

👉 If we broadly classify mutual funds these are three types:-
Equity, Dept and balance fund. 

Overall which are performing better you will see in their handpicked collection.

👉 Let's open one of popular funds and check top high return funds.

👉 On the top you will see the highest return blank. After opening that bank you will see a graph which shows the fluctuation of NAV, these are presets available such as 6 months, 1year and 3 years.

👉 If you fixed deposit in bank then you will get return of 7% to 8%. If you invest in gold or properties then you'll need more money to invest but in this you can start investing with a small amount.

👉It will also shows you the fund size. Below you will also see there is a SIP calculator , let say it I invest Rs 2000 per month and then I'll choose the duration 1 year, it will show the historical return below.

👉The user interface of this app is excellent, you can simply see the pros and cons of the fund also you can see the comparison , with other funds within this app.

👉It will shows the top 10 holdings , below you will also mention the name of the fund manager it you want to research about the manager.

👉Now let's click on invest now, it will give you two options such as SIP and one time.

👉If you choose SIP then then you can invest every month, same if you choose one time then you can do one time investment .

👉You can enter the amount and click proceed then the amount will be debited from linked bank according through net banking.

That's all your investment done.

👉 This app also give you the option to search other funds that are available by simply clicking on the search icon.

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April 11, 2021 at 11:10 AM ×

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