Groww Review: Invest in Mutual Funds through Groww App
Smart2Investor last edited by ftForumMod
I am an investor and love to review different trading and investing platforms. So, I just wished to discuss one such investing medium. Let's have a look at GROWW: Features and Review. I have tried to answer few common queries related to Groww App and how to invest in mutual funds through it.
Investment at Your Fingertips:
Internet and globalization has brought the biggest boom in our life. The world has shrunk and fits into a small screen of the mobile phone. With the advent of technology, the mobile phone has turned from a technological tool to a social tool. Everything you need is just a click away.
My father always says, “Discussing about investment and checking opportunities regarding the same was humongous task” during one time. I told him, “Let me shock you” and then I introduced him to one of the new mobile applications: “GROWW”.
What is GROWW? App Importance
GROWW is a Bengaluru based investment company which was formed in 2017.
It is an investment platform which allows its user to invest into mutual fund market directly (i.e. without any agent or broker involvement). This application is available on iOS, Android and the web.
This application offers more than 5,000 mutual funds, which can be invested in directly from its app.
How to start investing through Groww?
There are two different ways to start your account:
- You can visit the website of the mutual fund distributor platform.
- The second method is via a dedicated Groww Mutual fund investing app.
To start investing in mutual funds, you must key in all your personal details (KYC details) viz., Name, AADHAAR card, PAN Number, Bank details. Along with these details the scanned copy needs to be uploaded.
Once all the KYC details are verified, your account will be active and you are ready to start investing. After the account opening, follow simple three steps to build your own portfolio.
- Choose the mutual fund you want to invest in.
- Enter the amount of investment you are looking for such investment.
- Confirm and Pay.
Is it safe to invest money through Groww?
GROWW application is designed with 256-bit encryption which acts as a firewall against any information theft. All personal information and portfolio details are stored using the same security analog.
Also all the transactions (payments and receipts) of Asset Management Corporation is done via BSE. Thus, the money trail impacts or hits directly the BSE account and never the application funding.
What are charges of using GROWW application and investing under the same?
It’s a FREE platform. GROWW does not charge any commission or brokerage as the funds are invested directly into the market with no middle men involvement. Thus, there are no charges or fees for transacting on GROWW.
What are benefit of using GROWW?
GROWW helps you to find the correct fund fit for your investment needs by personally assisting you to achieve your goals. The Groww application is quite user-friendly. Thereby helping you and me to browse through and choose the correct investment policy and scheme with ease.
Moreover, the application also provides a dedicated “customer support” to help the investing process. The mutual fund platform provides a flexible and user friendly platform which can help us to grow our savings and achieve our financial goals.
The practice of comparing your kids to your neighbour’s kids is not a new problem. But, getting envy from your own kid’s generation is something new. I learnt this fact, when I showed the GROWW platform and discussed the features with my father. Investment made “simple and free of cost”.
Hey, I am not an endorser of Groww It's just that I liked this mutual fund investment platform and the Groww App personally so couldn't resist to express my views.