You are reading this review means you have taken one step ahead for investment or you already have the account with other company and you are just comparing that with groww.
This app is for trading stock,mutual fund,gold,bonds etc.
Groww found in year 2017,this banglore based startup offer paperless and discounted brokeing service.In the beginneing groww only offer mutual fund investment service.Now they are offering stock investment option,mutual fund investment,debt bond investment.
Groww now going with full fledged for offering all service which is offer by other competitor. Currently it have more than 1.5 crore user across 900+ cities in India.
Groww App Features
Groww app is user friendly and anybody can operate easily.They have web platform also where you can log in and check your investment details.Following are the key feature of groww app.
Fingerprint scanner unlock feature: Now every phone come with advance security option for their user such as finger lock,face lock,pattern lock.This security system help the user to secure the data from other. Groww also implement this security system for their user.This app have fingerprint scanner unlock feature. This help to investor to secure their data from others.
Option to choose between stock and mutual fund :- Once you logged in , the user can switch between stock and mutual fund tab. This helps investor to track their investment separately in stock as well as mutual fund. With help of this investor can track all profit and loses.
Suggestion of Mutual fund and stock :- When you log in dashboard of Groww app then in mutual fund tab you will see top perfoming mutual from all catogaries.This helps to the new investor for investmnet.This is same for stock also.
Payment option :- Groww have various payment option for investor such as UPI, Net banking, add money in groww wallet so you can invest any time from that wallet.
Groww Brokerage Charges
Now we will see the charges at groww app which is they are charging.
Below are different charges.
One of the biggest benefit of using groww is its competitive charges.
|Type of charges||Charges applied|
|Equity delivery||Free on Groww|
|Equity intraday||Rs.20 per executed order or 0.05% of order value (whichever is lower)|
|AMC (Account maintenance charges)||Free on Groww|
|DP charges – Sell order||Rs.8 + Rs.5.50 (CDSL charges) per ISIN (company/ETF) per day on Groww regardless of quantity sold|
|DP charges – Buy order||Free on Groww|
|Transaction Charges||– 0.00325% of order amount on NSE– 0.003% of order amount on BSE (applicable on both buy and sell)|
|Clearing Charges||Free on Groww|
|Stamp Duty||Maximum of 0.018% (but different for each state)|
|SEBI turnover charges||0.00%|
|Securities Transaction Tax (STT)||– 0.1% of the order amount in case of equity delivery– 0.025% of the order amount in case of equity intraday|
|Payment gateway charges||Free on Groww|
|GST||18% applied on charges wherever applicable|
Upcoming updated in Groww.
In upcoming days or year groww will launching deposits, US stocks, sovereign gold bond, futures and options and other derivatives products. Financial education is the a critical focus of groww. They are planning to launch financial education for the investors.
Groww have large customer base in short period of time.They have great customer care facility on phone as well as on email.Groww always focus on the customer comfort when it comes to investment and user experience on app as well as on website.
If you are new into stock market , mutual fund and you also not tech savvy then you can consider this app or website as it is user friendly. And those already have account with other company they can try this app as a new experience.