Groww is one of the most popular finance apps in India that offers many services like Investing in Stock & Mutual Funds, and UPI. In digital India investment becomes simple and anyone can invest in the stock market with their mobile phones. Most investment/broker apps charge some charges that can be different on every app. So, choosing the right investment app/broker can grow your investment easily at lower charges.
Investing money in stocks and mutual funds is a great option to increase your worth with time. If you have a good knowledge of investment then you can earn a high return from the stock market. Before investing in any stock or mutual fund, make sure to research about it.
In today’s blog post, I am going to review the Groww app. In this review, I will explore the Groww app and will share its pros & cons, safety measures, features, and more.
Groww App Overview
| App Name | Groww: Share Market, Trading, Demat Account, Pay |
| Latest Version | 16.61 |
| Last Update | Dec 21, 2023 |
| Compatibility | Requires Android 5.0 and up |
| Downloads | 50,000,000+ |
| Initial Release | Jan 7, 2018 |
| Offered by | Groww |
Groww is one of the leading broker platforms that offers investment services in the stock market, mutual funds, and more. With its simple user interface, you can manage your holdings easily. Recently Groww added a pay option in their app, in which users can pay bills, recharge phones, pay loans, etc.
Groww is a safe and secure broker app available on the Google Play Store. Here are some most popular services Groww offers:
Benefits of using Groww App
Groww is known as the best brocker platform but without knowing the features or benefits of this app we can’t stay with it. Here are some popular features that made Groww, the best investment partner in the Stock Market:
Groww App Charges & Pricing
Everything can’t be free of millions of users. The company needs funds to offer services and maintain users’ data, so Groww charges a very minimal amount for brokerage charges. Here are the brokerage charges and pricing of the Groww app:
Certainly! Here’s a detailed table summarizing key information about Groww, including account charges, brokerage charges, demat charges, transaction charges, and more:
| Maximum Brokerage | Rs 20 per order |
| Minimum Brokerage (Equity) | 0.05% of transaction value |
| Account Opening Charges | Fees |
|---|---|
| Trading Account Opening Charges | Free |
| Trading Annual Maintenance Charges | Free |
| Demat Account Opening Charges | Free |
| Demat Account Annual Maintenance | Free |
| Brokerage Charges (Equity) | Fees |
|---|---|
| Equity Delivery | Rs 20 per executed order or 0.05% (whichever is lower) |
| Equity Intraday | Rs 20 per executed order or 0.05% (whichever is lower) |
| Equity Futures | Rs 20 per executed order |
| Equity Options | Rs 20 per executed order |
| Currency Futures | NA |
| Currency Options | NA |
| Commodity Futures | NA |
| Commodity Options | NA |
| Demat Charges (Per Debit Transaction) | Fees |
|---|---|
| Demat Debit Transaction Charges | Rs 8 + Rs 5.50 (CDSL Charges) per ISIN |
| Demat Account Opening Charges | Rs 0 |
| Demat Annual Maintenance Charges (AMC) | Rs 0 (Free) |
| Demat + Courier Charges | Rs 150 per certificate + courier charges |
| Remat | Rs 150 per certificate + courier charges |
| Pledge Creation | Rs 20 + Rs 12 per request (CDSL Charges) |
| Pledge Invocation | Rs 20 |
| Failed Transactions | Rs 50 per ISIN |
| Other Charges | KYC Modification – Rs 50 |
| Transaction Charges (Equity) | Fees |
|---|---|
| Equity Delivery | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (each side) |
| Equity Intraday | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (sell side) |
| Equity Futures | NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 |
| Equity Options | NSE Rs 5000 per Cr (0.05%) | BSE Rs 3750 per Cr (0.0375%) (on premium) |
| Currency Options | (on premium) |
| Tax | Rates |
|---|---|
| Securities Transaction Tax (STT) | Various rates for different segments |
| Exchange Transaction Charges | As per the exchange |
| GST | 18% on (Brokerage + Transaction Charge + SEBI Fee) |
| SEBI Charges | 0.0001% (Rs 10/Crore) of the turnover |
| Stamp Duty | On the buy side only; rates vary for different segments |
How to invest in the Groww app?
Now, you are ready to start your investment journey with the Groww Brocker app. Before opening a demat account make sure to read all the charges maintained above. Let’s get started.
Requirements
2. Applicant must have a government-issued ID like a PAN card, Aadhar Card, etc.
3. Read all Terms & Conditions before opening an account.
Steps to start investment with Groww
First of all, you need to download the Groww app from the Google Play Store or any other trusted source. You can use groww.in to open a Demat account with Groww.
If you have already an account you can sign in with Groww otherwise sign up now with our referral link for extra benefits.
To trade or invest in the Groww app your KYC must be completed. Complete your video KYC and if you have any issues in KYC please contact customer support or comment below.
Once you complete your KYC, it will take 2 to 3 days to activate your account. After the account is activated, you can invest in stocks & mutual funds. For Intraday & F&O trading you need to apply with your bank statement.
NOTE
Pros & Cons of Groww App
| PROS | CONS |
|---|---|
| User-friendly Interface. | No Research and Advisory Services. |
| Zero Account Opening Charges. | Limited Tools for Advanced Traders. |
| Low Brokerage Charges. | Limited International Investment Options. |
| Commission-Free Mutual Fund Investments. | |
| No Annual Maintenance Charges (AMC) for Demat Account. | |
| Transparency in Charges. | |
| Good Customer Support. |
Groww App Review
Groww Stocks, Mutual Fund, UPI
Summary
Groww is a user-friendly investment app suitable for both beginners and experienced investors. With a simple interface and flat-fee brokerage, it makes trading easy and affordable. The app offers commission-free mutual fund investing and provides educational resources for better decision-making.
No account opening or annual maintenance charges make it cost-effective. I will recommend new investors to try Groww surely to make your investment journey easy & profitable.