"Groww is one of India's fastest-growing platforms and undoubtedly the best platform for brokerage-free Direct mutual funds investment. They have a strong customer base of 90+ lakh users as of Nov 2020. It is also one of the highest-rated App (4.5+) in the Google Play Store and App Store."
Why Groww?
- Groww charge Rs.20 per executed order or 0.05% of order value (whichever is lower) for delivery trade.
- Equity intraday trade at Rs. 20 or 0.05% (whichever is lower)
- Groww provides mutual funds investment at Zero Fees, No transaction charges,
- 100% paperless online Demat account opening
- 128 bit SSL Encryption
- Get complete stock analysis with company financials like P&L, Balance Sheet, etc & pick your best shares to buy free of cost
- No DP charges on buy.
- Highly rated Groww mobile App
- Facility to invest in US Stocks
Positives
- Free research services
- No DP charges on buy & low brokerage.
- Commission Free mutual fund investment
- Free Demat & Trading account, No charges on account opening
- Zero Clearing Charges
- Zero Demat AMC Charges
- Option to invest online in gold etfs, SGBs & gold funds
Needs Improvement
- Does not provide a 3in1 account facility.
- Does not provide commodity Trading
- Does not provide trading options: Bracket, GTT orders, etc
- does not provide Margin trading facility
- No Call and Trade services
- No Margin against shares
- Does not offer NRI Trading
 |
|
| Year of Incorporation | 2016 |
| Products | GROWW MOBILE APP |
| Demat Services | No |
| Active Exchange Memberships | NSE and BSE |
| Website | https://groww.in/ |
| Contact Details | - |
| Total Number of Clients | 9,185,024 |
| Total Number of Branches | - |
Groww was launched in 2017 by former Flipkart executives Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal. Groww started as a platform for buying direct mutual funds. Currently, It has over 6 million registered users and caters to investors across more than 800 cities. It is backed by some of the marquee investors, which include Sequoia, Ribbit, YCombinator, and Mukesh Bansal, among others.
Groww offers investments in Direct mutual funds without any commission or charges, the same happens without paperwork and within minutes. Groww has also taken a community-based approach by starting various groups and channels on the App, keeping in mind that people find it easier to invest when they consult their peer groups.
Incorporated in 2016, Initially, Groww was offering only a direct mutual fund investment platform. Last year around the mid-2020s, Groww started expanding its offering to include Equity trading as well. The company also offers Digital gold, US Stocks, and Fixed Deposit as other investment options for its customers
Groww offers a paperless and completely online account opening process that hardly takes 15 minutes and is free of cost. Groww additionally doesn't have AMC charges for trading & Demat accounts which helped them to grow much faster than their competition. Currently, they have >3Lacs, Active clients, that they acquired in a couple of months.
Groww is one of India's fastest-growing brokers with a strong customer base of 30+ Million as of June 2022. It is also one of the highest-rated App (4.6+) in the Google Play Store and App Store. Groww offers both Web & mobile trading platforms for seamless trading & investment experience and is secured by 128-bit encryption
Groww is known in the industry for its low-cost brokerage and Zero account opening charges. Groww has a simple pricing structure. They offer equity delivery trades and Intraday trades at a brokerage of 0.05% or ₹20/trade whichever is lower
Groww provides a different- different calculators to their clients like SIP calculators, EMI Calculator, NPS Calculator, Mutual Fund Return Calculator, and FD Calculator to help them in taking a better decision
Groww Affiliation Details
- CIN : Nextbillion Technology Pvt Ltd : U74997KA2016PTC092879
- Groww SEBI registration No : INZ000203082
- Groww DP ID: IN-DP-CDSL-417-2019
- Grow AMFI Registration no: ARN-111686
Customer's Service options offered by Groww
Groww does not offer multiple communication channels to its clients for using the customer's service. We have not seen a live chat facility, customer support email id, or phone number.
- Phone Number :
- Customer Support:
- 91-91-0880-0604
- Customer Support:
- Email Support: [email protected]
- Corporate Office :
Next billion Technology Pvt Ltd,
1A-206 Caldra, Divyasree Elan,
Sarjapur Road, Bangalore,
Bangalore KA 560035 IN.
Active Client Details Of Groww
- 9185,024+ Clients.
- No Branch Office
Groww Account Opening Charges
Groww Does not charge anything for online account opening for Trading & Demat account. There are no AMC charges on the Trading and Demat account, which means account opening and account maintenance with Groww is completely free
| Type | Account Opening (One Time) | Annual Maintenance Fees (Yearly) |
|---|---|---|
| Groww Equity Trading Account | Free | Free |
| Demat Account | Free | Free |
Groww Equity Delivery | Intraday Charges
Please find below Groww Brokerage charges for Delivery Trade & Intraday Trades. Groww provides Delivery trade at Rs.20 per executed order or 0.05% of the order value and Groww charges for Intraday are 0.05% or Rs.20/Trade whichever is lower Per Order.
| Groww Charges | Equity Delivery | Equity Intraday |
|---|---|---|
| Brokerage | 0.05% or Rs.20/Trade whichever is lower | 0.05% or Rs.20/Trade whichever is lower |
| STT | 0.1% ON BOTH Buy & Sell | 0.025% On the Sell-side |
| Transaction / Turnover charges | NSE : 0.00325%, BSE: 0.00275% each on buy trade & sell trade | NSE : 0.00325%, BSE: 0.00275% each on buy trade & sell trade |
| SEBI Charges | 15 Rs/Crore | 15 Rs/Crore |
| GST | 18% on (Brokerage + Transaction Charges) | 18% on (Brokerage + Transaction Charges) |
| Stamp Duty | 0.015% | 0.03% |
Groww F&O Brokerage Charges
Please find below the Brokerage Charges list for Equity Futures and Equity Options charged by the Groww. Groww provides Equity future Trading & Options Trade at a Flat ₹20/executed.
| Charges | Equity Future | Equity Option |
|---|---|---|
| Brokerage | Flat ₹20 per executed order | Flat ₹20 per executed order |
| STT | 0.01% On the Sell-side | 0.05% On the Sell-side (ON PREMIUM) |
| Transaction / Turnover charges | 0.002% | 0.053% |
| SEBI Charges | 0.00005% (₹5/Crore) | 0.00005% (₹5/Crore) |
| GST | 18% on (Brokerage + Transaction Charges) | 18% on (Brokerage + Transaction Charges) |
| Stamp Duty | 0.002% | 0.003% |
Groww Mutual Fund Fee Structure
At The Time of Buying
| For SIPs | Nil | Nil |
| For Lumpsum Investment | Nil | Nil |
At The Time of Selling / Switching
| For SIPs | Nil | Nil |
| For Lumpsum Investment | Nil | Nil |
Groww Margin Exposure
Groww margin for intraday trading is up to 20% of trade value (max 5x leverage) based on the stock. Groww F&O intraday trading margin is 1.3x across Equity, Currency, and Commodity trading at BSE, NSE, and MCX. There is no additional margin offered for Groww F&O carry forward positions and equity delivery trades.
| Segment | Margin | Leverage |
|---|---|---|
| Equity Delivery | 100% of trade value | 1x |
| Equity Intraday | Up to 20% of trade value | 5x |
| F&O (Equity, Currency, and Commodities) | 100% of NRML margin (Span + Exposure) | 1x |
How to open an account online with Groww?
The accounting opening process with Groww is completely online and Paperless with an E-sign option to complete the account opening. Groww also does not charge anything for account opening
Below are the steps that need to be followed to open a Groww account online:
- Login to Groww web/app.
- Register with your mail id and mobile number.
- Provide your identity details, bank details, and personal details like occupation, income, parent's name, and trading experience.
- Take Picture and Upload your signature on white paper.
- E-sign based on your Aadhar to complete the account opening process.
In case your mobile number is not linked to your Aadhar number, you can choose to download the AOF and send a physical copy of the AOF to the broker's office for verification.
The Final Thoughts about Groww
Groww has all the things to serve their clients well from Brokerage free trading for Delivery trade, attractive brokerage on Intraday trade, Zero Commission direct mutual fund investment, all kind of trading platforms, MF Investment, Facility to invest in US Stocks but they have to provide all kind of trading facility be it Currency or commodity trading to attract more clients or traders.
Free Equity Delivery Trading and Mutual Funds
- Brokerage-free Equity Delivery and flat Rs 20 per trade for Intraday & F&O +
- Brokerage-free Direct Mutual Fund investment +
- Trade with the best trading platform in India.
This is a limited-time offer. Open Instant Zerodha Account online and start trading today.
Frequently Asked Questions:
-
1. Who is better Zerodha or Groww?
Zerodha & Groww both are discount broking firms providing flat fees brokerage and do not provide trading tips & stock recommendations. The answer to this question lies in seeing the comparative analysis of their offerings and Charges.
- Experience: Nithin Kamath, founder, and CEO of Zerodha established the company in the year 2010, Zerodha headquarter is situated in Bengaluru, Karnataka. Groww founded in 2016 and had initially started as a direct mutual fund investment platform for users. By the time they have created immense popularity among users in the mid-2020s, Groww expanded its product offering to include Equity trading. Harsh Jain is the Co-Founder & COO of Groww and is also based in Bangalore, Karnataka.
If we analyze Zerodha has >10 years of experience in the stockbroking field whereas Groww is quite new and has started equity broking services in the mid-2020s only.
- Active Client Base: Zerodha is currently number 1 in terms of Active Clients base in India and has more than 36,14,054 active clients as of April 2021 whereas Groww has about 7,54,919 active client list but it is worthwhile to note that Groww reached such number in less than a years time which shows its growing popularity.
- Account Opening & Charges: Zerodha & Groww both provide online, paperless account opening within minutes. There are no Account opening charges as well as AMC charges for Groww means it provides completely free account opening, whereas Zerodha does charge a one-time fee of Rs.200 for equity and Rs.300 for (Equity, FNO, Currency, commodity) and Rs.300 AMC.
- Brokerage: Zerodha brokerages are lower than Groww, Zerodha offers free equity delivery trades, whereas Groww charges Rs.20 or 0.05%.Zerodha is charging a little lower as they charging Rs.20 or 0.03% whereas Groww is charging Rs.20 or 0.05% for Intraday & F&O Trades.
- Call & Trade Facility & Charges: Call and trade charges are Rs.50 for Zerodha, whereas no call and trade facility provided by Groww as of now.
- Trading Services: As of now you can only trade and invest in stocks (equity delivery) & Equity FNO segments at Groww, Commodity, Currency segments are yet to be launched, whereas with Zerodha you can trade and invest in all segments.
- Investment Services: With Groww you can make investments in Gold, Fixed deposits, US stocks such as Apple, Amazon, Google, etc. online using the Groww platform whereas no such facility with Zerodha as of now.
- Trading Platforms: Zerodha has an extremely good trading platform for desktop/web/mobile app, you can do fundamental as well as technical analysis quite easily, and is much better than Groww platforms. It is also worthwhile to note that Groww does not provide a desktop trading platform. Overall Zerodha in comparison to Groww trading platform offers a much better user interface as well as they have many other services integrated within the platform such as Sensibull, small case, tickertape, streak, etc.
Special Offer: Brokerage free equity delivery trading (no commission) + Flat Rs 20 Intra-day and F&O trades. Get the offerIf you ask My opinion Groww vs Zerodha who is better?
I would Say as of Now Zerodha as it offers all required services in one place offer better trading experience with technologically advanced trading platforms & tools and at comparatively lower brokerage and have the trust of more than 3.6m active clients.
In my opinion, Groww still needs to do a lot to fulfill the stockbroking requirements such as allowing currency and commodity trading. Moreover, from a trading perspective, they need to come up with a dedicated desktop platform for their users.
Having said that, I like their key USP of allowing clients to invest in US stocks, their strength in financial data for fundamental analysis, Free mutual funds investments.
- Experience: Nithin Kamath, founder, and CEO of Zerodha established the company in the year 2010, Zerodha headquarter is situated in Bengaluru, Karnataka. Groww founded in 2016 and had initially started as a direct mutual fund investment platform for users. By the time they have created immense popularity among users in the mid-2020s, Groww expanded its product offering to include Equity trading. Harsh Jain is the Co-Founder & COO of Groww and is also based in Bangalore, Karnataka.
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2. Which is better Zerodha or Groww for Mutual fund?
Zerodha and Groww both are providing direct mutual fund investment via Zerodha Coin and Groww Mobile app at Zero commission. The answer to this question of who is better for mutual fund investment Zerodha vs Groww lies in seeing the comparative analysis of their offerings and Services.
- Pre-defined Bouquet of Mutual Funds: A key feature that is provided by Groww and is missing in the Zerodha Coin app, the readymade bouquet of Mutual funds in which you can find funds based on your investment needs such as “High return”, “Better than FD”, and “Top companies”. This is helpful for users who do not have much knowledge of investing. It guides users to these groups of mutual funds based on their investment goals.
- Mutual Fund Comparision: Groww also provides their user and an important feature in which it provides a comparison of different mutual fund schemes. This is very useful for a user who does not have an idea of which mutual fund he or she should invest. This feature allows them to compare returns over a period of time and lets them add up to three different funds.
- Dashboards and analytics: Groww provides useful dashboards and analytical tools which provide good infographics on the various options to invest in. The dashboards provide users a historical analysis of their funds’ performances and returns on investments.
- Xperts: Groww also provides an option to seek expert guidance on how to invest. This section contains tips and tricks from some of the biggest names in the industry, enabling users to make a well-informed decision.
- Tracking external investments: The Groww app also lets users combine the tracking of external investments along with their current investments. This enables the user to track and monitor all their funds from a single space using the Groww platform. Zerodha Coin, however, does not have this feature as it requires users to create a Demat account with Zerodha, thus limiting the view on the app to just the investments made using that Demat account.
- Need of Demat Account: The biggest differentiator between the two apps is that the Groww app does not need a user to have a Demat account and just needs a user to complete their KYC on the app. Zerodha, however, requires a user to have a Demat account, offering an extra hurdle for users to register and start using the app.
- Customer Support: The Groww app does not have a call center number for users to dial into in case of any issues that users need to resolve. Zerodha, on the other hand, has calling support, and users can immediately have their issues addressed by talking to a customer care executive, giving Zerodha the advantage of customer support.
Special Offer: Brokerage free equity delivery trading (no commission) + Flat Rs 20 Intra-day and F&O trades. Get the offerIf you ask My opinion Groww vs Zerodha who is better for Mutual fund investment?
I would Say as of Now Groww as The features mentioned above definitely give the Groww app a slight edge over the Zerodha Coin app.
The Zerodha Coin may be helpful for users who are experienced with investments and know precisely what they want to do. Still, the Groww app offers a lot more value to a user – experienced and inexperienced alike, making it a better investment platform.
-
3. Is Groww app good for mutual funds?
Groww provides you an opportunity to invest in a direct mutual fund via the Groww Mobile app at Zero commission. The answer to this question is Groww app good for mutual funds lies in seeing what Groww offers to their clients.
- Pre-defined Bouquet of Mutual Funds: A key feature that is provided by Groww, the readymade bouquet of Mutual funds in which you can find funds based on your investment needs such as “High return”, “Better than FD”, and “Top companies”. This is helpful for users who do not have much knowledge of investing. It guides users to these groups of mutual funds based on their investment goals.
- Mutual Fund Comparision: Groww also provides their user and an important feature in which it provides a comparison of different mutual fund schemes. This is very useful for a user who does not have an idea of which mutual fund he or she should invest. This feature allows them to compare returns over a period of time and lets them add up to three different funds.
- Dashboards and analytics: Groww provides useful dashboards and analytical tools which provide good infographics on the various options to invest in. The dashboards provide users a historical analysis of their funds’ performances and returns on investments.
- Xperts: Groww also provides an option to seek expert guidance on how to invest. This section contains tips and tricks from some of the biggest names in the industry, enabling users to make a well-informed decision.
- Tracking external investments: The Groww app also lets users combine the tracking of external investments along with their current investments. This enables the user to track and monitor all their funds from a single space using the Groww platform.
- Need of Demat Account: The biggest differentiator is that the Groww app does not need a user to have a Demat account and just needs a user to complete their KYC on the app.
Special Offer: Brokerage free equity delivery trading & Mutual Fund Investment + Flat Rs 20 Intra-day and F&O trades. Get the offerThe Groww offers a lot more value to a user – experienced and inexperienced alike, making it a better investment platform for Mutual funds.
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