Groww app review is our today’s topic. Groww App is one of the fastest-growing investment platforms in India. It started in 2016 as a direct mutual fund platform, but now investors can invest and trade in the stock market and mutual funds. With over 9 million customers, Groww is definitely showing its strong market presence. The mobile app is available in both Android and IOS and is safe due to its 128 bit high-level SSL encryption. The App is very intuitive with a simple and clean user interface that makes any operations fast and smooth. It is obvious, that technology is everyone’s prime priority. So do Groww, everything is electronic and online. Also, the way they provide financial solutions to customers is really fast, easy, and transparent.
Contents Summary
Groww App Features
1. User-friendly, simple and clean UI.
2. Information kept secret via safe and secured App.
3. Completely paperless and fast account opening.
4. One-click order placement.
5. Candlestick charts to show price movements and historical performance.
6. Complete information on all listed Indian companies.
7. Real-time market updates.
8. Feature to chat with customer helpdesk.
9. Latest news and information, resources, videos, and content related to financial markets.
Benefits
1. Simple design and clean user interface helps in trading easily.
2. Fast trading allows one-click order placement.
3. Secured trading with modern encryption technology.
4. No separate login for mutual funds investments.
5. Users can directly invest in mutual funds, SIP for free with zero commission, and tracking of the invested mutual funds are also available.
Investment possibilities
Any fund investment (SIP or One time)
Users can invest in any type of fund, whatever they choose from the given AMC. The options offered are to make a lump-sum payment or a Systematic Investment Plan (SIP). It can be done on any of the funds wherein the fixed predecided amount would be debited directly from your linked bank account every month.
Add more in existing fund
If any user has already invested in the mutual funds, they can make further investments in the same portfolios via Groww.
Redeem in one click
Redeeming the accumulated units of money in mutual funds can be done in one single click in Groww App. The amount will be to the linked bank account.
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Cancel Running SIP
Someday due to a financial emergency, one might want to cancel or stop ongoing SIP in any mutual fund scheme. It is possible here.
Switching to direct mutual funds
If anyone has invested in regular mutual funds before and would like to switch to regular funds, Groww App offers this feature also.
Extra Features
1. Users can invest via UPI, this feature was added newly and got quickly accepted. Today, more than half of transactions in Groww App take place in this method.
2. Users can check their investment portfolio performance by the ‘Portfolio Insight’ feature.
3. Users can compare various mutual funds(upto 3 mutual funds at a time) before investing.
4. The SIP process is so transparent that users can view their payment history through the ‘SIP Journey’ feature.
Advantages
1. Discount of brokerage.
2. Trading platform available for multiple devices.
3. Easy account opening.
4. High exposure.
5. Quick response to queries.
Disadvantages
1. Groww lacks some financial instruments like IPO investments, market depth, scanners, stock alerts, etc.
2. Groww App doesn’t provide research and advisory services.
How to open an Demat Account
Required documents,
I. Aadhar Card.
II. PAN Card.
III. Bank details(with net banking facility).
Once you have all the documents readily available with you, register yourself with some basic details. Once you provide your phone number, you will get an OTP. Put it and proceed. Fill in all information required and upload your documents. The help desk team will call and guide you. Do the eKYC and proceed. After the verification, you will receive the login details via email.
Charges
The App is absolutely free, with zero charges applicable for account opening and maintenance. Users only need to pay brokerage charges, Demat charges, and regulatory charges like GST, exchange transaction charges, stamp duty, stocks, STT, etc.
I. Equity Delivery charges – Rs. 20 or 0.05% (which is low) of trade value.
II. Equity Intraday charges – Rs. 20 or 0.05% (which is low) of trade value.
III. Demat account Annual Maintenance Charge(AMC) – Nill.
IV. Trading account Annual Maintenance Charge(AMC) – Nill.
V. Margin – 75%.
Conclusion (Groww App Review)
The Groww App is fully secure and reliable as they employ bank-grade security features on their platform. Groww operates the Bse Star MF transaction platforms, ensuring that all the transactions directly fund AMC. Also, it is registered with SEBI under the name Finvantage Investment Advisor Private Limited. The best part is no charge is required to use the platform. As it eliminates the requirements of middlemen and allows direct dealing with the AMCs, thus helps in bringing down the costs for customers. Every individual who wishes to invest in mutual funds should try this platform once, as it will make the entire investment process simple and hassle-free.