"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 125+ lakh users as of Mar 2026. 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
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✔ What Groww Does Well
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Needs Improvement
✘ Where Groww Falls Short
| ✗ | Delivery brokerage ₹20 or 0.1% — unlike Zerodha's ₹0 |
| ✗ | UPI mandate brokerage is 1% with NO cap — major trap |
| ✗ | NRI accounts NOT available |
| ✗ | GTT orders NOT available |
| ✗ | No research, no stock tips, no advisory at all |
| ✗ | No physical branches — 100% online only |
| ✗ | Customer support is email/chat only — slow response |
| ✗ | Trading terminal less advanced than Zerodha Kite |
| ✗ | No 3-in-1 integrated banking account |
| ✗ | F&O intraday leverage only 1.3x — lower than most brokers |
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GROWW
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Groww Review 2026 — Brokerage Charges, AMC, Platform & Honest AssessmentBy CompareShareBrokers Editorial Team | Last updated: March 2026 | Affiliate disclosure
✔ Verified March 2026 ✔ ₹0 AMC for Life
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Open Free Account →
Free • ₹0 AMC for life
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₹20
All segments incl. delivery
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₹0
AMC — for life
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₹0
Account opening
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₹20
DP charge/scrip (male)
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Direct
Mutual fund plans
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4.0/5
CSB Rating
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| 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 | 12,480,505 |
| Total Number of Branches | - |
Groww has quietly become India's largest stock broker by active clients — a remarkable achievement for a company that only entered equity trading in the early 2020s. Founded in 2016 in Bangalore by four former Flipkart executives — Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal — Groww started as a direct mutual fund investment platform and spent its early years building one of India's most user-friendly apps before adding equity, F&O, IPOs, ETFs, US stocks, and commodities. The founders' e-commerce and product background is visible in every design decision Groww has made: the app feels like a consumer product, not a trading terminal.
What makes Groww genuinely different from every other discount broker in India is a combination that sounds simple but no one else has fully matched: ₹0 AMC for life (no conditions, no BSDA required, no minimum balance), direct mutual fund plans (not regular plans like Angel One and Upstox), and an interface so clean and beginner-friendly that it has attracted a large first-time investor base. As of mid-2025 it serves over 1.4 crore active clients — more than Zerodha.
The trade-offs are real and worth knowing. Groww charges ₹20 or 0.1% brokerage on equity delivery trades — unlike Zerodha which charges ₹0. GTT (Good Till Triggered) orders are not available. There is no research, no tips, and no advisory. NRI accounts are not supported. And there is a specific trap that many users discover too late: if you use UPI Mandate balance to fund trades, Groww charges 1% brokerage with no maximum cap — far higher than the standard ₹20 flat. We will cover all of this honestly so you know exactly what you are getting into.
| Brokerage charges |
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4.1 |
| Trading platform |
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3.9 |
| Mobile app |
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4.5 |
| Customer support |
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3.0 |
| Research & tools |
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2.8 |
| Mutual fund platform |
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4.6 |
| Account opening |
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4.5 |
| Transparency |
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3.8 |
| Overall Rating |
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4.0 |
Ratings based on independent testing, verified user reviews, SEBI complaint data, and platform benchmarking. Updated March 2026.
All charges below are verified against Groww's official pricing page (groww.in/pricing) as of March 2026. Groww's biggest advantage is ₹0 AMC for life — permanent and unconditional. The biggest pricing change since 2024: minimum brokerage raised from ₹2 to ₹5 from June 21, 2025, confirmed by Business Standard and Groww's official page.
| Charge | Amount | What you should know |
|---|---|---|
| Trading account opening | ₹0 Free | 100% online. Takes under 10 minutes with Aadhaar eKYC. |
| Demat account opening | ₹0 Free | Held with CDSL and NSDL. Auto-linked to trading account. |
| Demat AMC | ₹0 — Permanently free | No annual maintenance charge — ever. No BSDA required. No minimum balance. Unlike Zerodha (₹300/yr) and Angel One (₹240/yr). |
| NRI account | Not available | Groww does not offer NRI trading or demat accounts. NRIs should consider Angel One or HDFC Securities. |
| Offline account opening | Not available | Groww is 100% online only. No branches, no offline option. |
| Segment | Brokerage | Notes |
|---|---|---|
| Equity Delivery | ₹20 or 0.1%, min ₹5 | Whichever is lower. Unlike Zerodha (₹0 delivery), Groww charges brokerage on delivery. Min raised from ₹2 to ₹5 from June 21, 2025. |
| Equity Intraday | ₹20 or 0.1%, min ₹5 | Whichever is lower. On ₹5,000 trade: ₹5 (min). On ₹20,000+: ₹20 (max). |
| Equity Futures | ₹20 flat per order | Per executed order regardless of lot size or trade value. |
| Equity Options | ₹20 flat per order | Per executed order regardless of premium or lots. |
| Commodity F/O (MCX) | ₹20 flat per order | Gold, silver, crude, agri — all ₹20 flat. |
| Mutual Funds (Direct) | ₹0 — Zero | Zero commission on direct plan SIP and lumpsum. Lower expense ratios than regular plans offered by Angel One and Upstox. |
| US Stocks | Charges apply | Invest in US-listed stocks directly from Groww app. LRS and remittance charges apply as per RBI guidelines. |
| MTF orders | 0.1% per order | MTF brokerage is 0.1% per order — NOT the standard ₹20 or 0.1%. Different rate structure for margin-funded orders. |
| Charge | Amount | When it applies |
|---|---|---|
| DP charge (male, sell ≥₹100) | ₹20+GST | ₹3.50 (CDSL) + ₹16.50 (Groww). Per scrip per sell transaction. |
| DP charge (female, sell ≥₹100) | ₹19.75+GST | ₹3.25 (CDSL) + ₹16.50 (Groww). Discount of ₹0.25 per debit for female first holders. |
| DP charge (sell <₹100 debit value) | ₹3.50/₹3.25 only | Only CDSL charge. Groww waives its ₹16.50 fee for low-value debit transactions. |
| Auto square-off | ₹50 per position | If intraday positions not closed before market close. Higher than Upstox and Angel One's ₹20. |
| Pledge / Unpledge | ₹20 per ISIN + 18% GST | For pledging or unpledging shares as margin collateral. |
| Delayed payment charge | 0.05%/day incl. GST | Simple interest, compounded monthly. On outstanding debit balance. |
| KYC modification | ₹50 incl. GST | For changes to email, phone, bank, or personal details. |
| DDPI charges | ₹100 + GST | Demat Debit and Pledge Instruction activation. One-time charge. |
| Call & Trade | Not available | Groww does not offer a Call & Trade service. All orders must be placed via app or web. |
Groww MTF lets you buy stocks by paying only 25% of the total value upfront — Groww funds the remaining 75% as a loan at 14.95% per annum interest. The interest is calculated daily and posted as a monthly summary in your ledger (Groww changed from daily to monthly postings in 2025 for cleaner tracking). MTF brokerage is separately charged at 0.1% per order — different from the standard ₹20 flat rate.
| MTF Feature | Groww Details |
|---|---|
| Interest rate | 14.95% p.a. = 0.041%/day on funded amount |
| MTF brokerage | 0.1% per order (NOT ₹20 flat like regular trades) |
| Intraday to MTF conversion | 0.1% per order charged on conversion |
| Leverage | Up to 4x. Pay 25% upfront. Groww funds remaining 75%. |
| Interest posting | Calculated daily, posted as single monthly summary (changed 2025) |
| After Market Orders (AMO) | Available for MTF positions — place orders 24/7 |
| MTF to delivery conversion | Available — convert to hold long-term beyond MTF period |
| Pledge/Unpledge charge | ₹20+GST per ISIN |
| Tax | Equity Delivery | Intraday | F&O (Budget 2026) |
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| STT | 0.1% buy+sell | 0.025% sell | Fut: 0.05% sell Opt: 0.15% sell (premium) Effective April 1, 2026 — Budget 2026 rates. |
| GST | 18% on brokerage + exchange transaction charges + SEBI + IPFT. NOT applied on STT or Stamp Duty. | ||
| Exchange (NSE) | 0.00297% | 0.00297% | Futures: per Groww official page Opt: per Groww official page |
| Exchange (BSE) | 0.00375% | 0.00375% | As per BSE schedule |
| SEBI charges | 0.0001% of turnover (₹10 per crore) | ||
| Stamp duty | 0.015% (buy) | 0.003% (buy) | Fut: 0.002% Opt: 0.003% (buy) |
Groww's app is genuinely the most beginner-friendly trading and investment app in India. The design is clean, uncluttered, and designed for people who are not financial experts. Portfolio tracking, stock search, SIP management, IPO applications, mutual fund investing, and US stocks are all accessible from a single unified home screen. The onboarding experience is so smooth that Groww has attracted a large base of first-time investors who would have found Zerodha Kite or Upstox Pro intimidating. The mobile app ratings on the Play Store and App Store are among the highest of any Indian broker.
For active traders, Groww offers the Groww Terminal (web-based) and the 915 Terminal (915.groww.in) — a more advanced charting and order management platform. The terminal includes TradingView-powered charts with technical indicators, a live option chain view, and basket order functionality. It is capable but does not match Kite's polish or Upstox Pro's Chart360 feature for pure technical analysis depth. The F&O intraday leverage on Groww is also limited at 1.3x — lower than Zerodha and Upstox which offer higher F&O intraday margin.
This is where Groww is genuinely best-in-class. Direct mutual fund plans with zero commission, clean SIP management, NFO tracking, fund comparison, and an excellent screener. Unlike Angel One and Upstox which offer only regular plans (with higher expense ratios), Groww offers direct plans — saving 0.5%–1.5% per year in hidden commission. Over 10–20 years this compounds into a very meaningful difference in final corpus. For mutual fund investors, Groww alongside Zerodha Coin remain the two best options in India.
Groww offers an API for algorithmic trading (groww.in/trade-api). It is functional but less mature and less documented than Zerodha's Kite Connect or Angel One's Smart API. Zerodha charges ₹2,000/month for API access while Groww's is free. For retail algo traders who prioritise cost over documentation depth, Groww API is worth considering alongside Angel One's free API.
Groww account opening is the fastest of any major Indian broker — most accounts activate in under 10 minutes on working days. The process is 100% online and paperless. There is no offline option.
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Download Groww app or open groww.in — Register with email and mobile number. Verify mobile via OTP. Takes 2 minutes. |
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Enter PAN details — Your PAN is verified instantly against the income tax database. |
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Aadhaar eKYC — Enter Aadhaar number. OTP sent to Aadhaar-linked mobile. If mobile not linked, physical form needs to be couriered. |
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Bank details + selfie — Enter IFSC code and account number. Upload selfie for IPV verification. Penny drop verifies bank instantly. |
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Unlock Stocks tab — Mutual fund access is instant. For stocks, click “Complete Setup” under the Stocks tab, confirm charges, e-sign, and you're live. Usually within a few hours on working days. |
- You primarily invest in mutual funds — direct plans with zero commission and the best SIP management interface in India. Over 10+ years the expense ratio saving vs regular plans is significant.
- You are a beginner investor — the cleanest, most approachable app for someone opening their first demat account. Everything in one place without technical complexity.
- You want zero AMC for life — ₹0 permanently, no conditions. Saves ₹300–₹354/year vs Zerodha, ₹240–₹283/year vs Angel One, indefinitely.
- You want US stocks + Indian stocks in one app — Groww is one of the few Indian brokers offering US stock investing alongside Indian equity, MF, and F&O from a single account.
- You invest in SME shares — Groww supports SME share trading. Zerodha does not.
- You are a frequent equity delivery investor — Zerodha offers ₹0 delivery brokerage. Groww charges ₹20 or 0.1% per order on delivery — for regular investors this adds up meaningfully over time.
- You are an NRI — Groww does not support NRI accounts. Consider Angel One or HDFC Securities.
- You use GTT orders — GTT is not available on Groww. Zerodha and Upstox support GTT for automated long-term buy/sell triggers.
- You need research or advisory — Groww provides no stock tips or research. Angel One is the only flat-fee broker offering free research.
- You are an active F&O trader — Groww's F&O intraday leverage is just 1.3x — significantly lower than Zerodha and Upstox which offer up to 5x. The terminal also lacks the depth that heavy F&O traders require.
| Feature | Groww | Zerodha | Upstox | Angel One |
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| Delivery brokerage | ₹20 or 0.1% | ₹0 Free | ₹20/order | ₹20 or 0.1% |
| F&O brokerage | ₹20 flat | ₹20 flat | ₹20 flat | ₹20 flat |
| Demat AMC | ₹0 for life ✔ | ₹300/yr | ₹0 yr1, ₹150/yr after | ₹0 yr1, ₹240/yr after |
| DP charge | ₹20 (male) ₹19.75 (female) |
₹15.34 | ₹20 | ₹20 |
| Direct MF plans | Yes ✔ | Yes ✔ | Regular only | Regular only |
| NRI account | Not available | Offline & poor | Not available | Yes ✔ |
| GTT orders | Not available | Yes ✔ | Yes | Not available |
| US stocks | Yes ✔ | No | Yes | Yes |
| SME trading | Yes ✔ | No | No | No |
Regulatory standing: Groww Invest Tech Pvt Ltd (formerly Nextbillion Technology Pvt Ltd) is registered with SEBI as a stock broker (INZ000301838), Trading Member of NSE and BSE, MCX member (ID 57420), and registered as Depository Participant with both CDSL (DP-417-2019) and NSDL (IN304480). Dual DP registration with both CDSL and NSDL is relatively rare — most discount brokers only have CDSL. Your shares are held in your own demat account, independent of Groww's balance sheet.
Funding and scale: Groww is backed by Tiger Global, Sequoia Capital, Ribbit Capital, and YC Continuity — tier-1 global institutional investors. It has raised over $600 million in funding. This financial backing and scale provide stability that smaller brokers cannot match.
Groww has earned its position as India's largest broker by active clients for good reason. The combination of ₹0 AMC for life, direct mutual fund plans, US stocks, SME trading, and the cleanest app experience in Indian broking is genuinely compelling — particularly for beginners and mutual fund investors.
The key limitations that matter: ₹20 or 0.1% delivery brokerage (Zerodha is ₹0), no NRI accounts, no GTT orders, the UPI Mandate 1% brokerage trap, limited F&O leverage, and slow customer support. None are dealbreakers for casual investors and mutual fund users — but they matter significantly for delivery traders, NRIs, and active F&O traders.
Overall: 4.0/5 — Highly Recommended for beginners, mutual fund investors, and AMC-conscious investors. Zerodha is better for frequent delivery traders and GTT users.
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:
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1. Who is better Zerodha or Groww?
Choose Groww if you want ₹0 AMC for life, invest in mutual funds (direct plans), are a beginner who wants the simplest app experience, want US stocks, or invest in SME shares. Choose Zerodha if you want ₹0 delivery brokerage, GTT orders, Varsity education, direct MF via Coin, or a more advanced trading platform. Both charge ₹20 flat on F&O. Groww wins on AMC; Zerodha wins on delivery brokerage and platform depth.
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2. Is Groww account opening free?
Yes. Both trading and demat account opening is ₹0. Unlike most brokers, Groww also charges ₹0 AMC permanently — no annual maintenance charge ever, for any reason, with no minimum balance requirement.
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3. What is Groww brokerage for equity delivery?
₹20 or 0.1% of trade value — whichever is lower, with a minimum charge of ₹5. This applies after June 21, 2025 when the minimum was raised from ₹2 to ₹5. Note: unlike Zerodha (₹0 delivery), Groww charges brokerage on delivery trades. Verified from groww.in/pricing (March 2026).
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4. Does Groww charge AMC?
No — ₹0 AMC permanently. Groww charges zero annual maintenance charge for both trading and demat accounts, with no conditions, no BSDA conversion required, and no minimum balance. This is permanent — not just for the first year. Confirmed on groww.in/pricing and Chittorgarh.
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5. What is the UPI Mandate brokerage trap on Groww?
If you use UPI Mandate balance (added via UPI Mandate payment method) to place trades on Groww, the brokerage charged is 1% of the order value with no maximum cap — far higher than the standard ₹20. On a ₹1 lakh order that is ₹1,000 in brokerage. To avoid this, always fund your account via NEFT/IMPS and ensure your Groww wallet balance shows under the regular balance, not UPI Mandate balance, before placing orders.
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6. Does Groww offer direct mutual fund plans?
Yes. Groww invests in direct mutual fund plans with zero commission. This is a key advantage over Angel One and Upstox which offer only regular plans. Direct plans have lower expense ratios (typically 0.5%–1.5% lower per year) — over 20 years this compounds into a meaningfully larger corpus.
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7. Does Groww offer NRI accounts?
No. Groww does not offer NRI trading or demat accounts. NRIs should consider Angel One (online NRI accounts available) or HDFC Securities which have dedicated NRI onboarding processes.
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8. What is Groww MTF interest rate?
14.95% per annum = 0.041% per day on the funded amount. MTF brokerage is 0.1% per order (not the standard ₹20 flat). Groww allows 4x leverage — pay 25% upfront, Groww funds the remaining 75%. Interest is calculated daily and posted as a monthly summary from 2025 onwards.
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9. Does Groww offer US stocks?
Yes. Groww allows investing in US-listed stocks (like Apple, Microsoft, Amazon, Tesla) directly from the Groww app. LRS (Liberalised Remittance Scheme) and remittance charges apply as per RBI guidelines. Zerodha does not currently offer US stocks.
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10. Does Groww offer GTT orders?
No. GTT (Good Till Triggered) orders are not available on Groww. This is a significant limitation for long-term investors who use GTT for automated buy/sell at target prices. Zerodha and Upstox both support GTT orders.
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11. Groww vs Zerodha — which should I choose?
Choose Groww if you want ₹0 AMC for life, invest in mutual funds (direct plans), are a beginner who wants the simplest app experience, want US stocks, or invest in SME shares. Choose Zerodha if you want ₹0 delivery brokerage, GTT orders, Varsity education, direct MF via Coin, or a more advanced trading platform. Both charge ₹20 flat on F&O. Groww wins on AMC; Zerodha wins on delivery brokerage and platform depth.
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12. 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.
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13. 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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