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Groww Mutual Fund Review

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Groww is one of India's best apps for mutual fund investment. The company offers Direct Mutual Funds through the Groww platform. Customers can use the Groww website or Groww mobile app to invest in mutual funds. Groww is an all-in-one mutual fund app with 5000+ mutual funds available for investment through SIP or lumpsum mode. The company offers to switch your regular mutual fund plans to direct mutual fund plans and help you earn extra returns.

Groww started in 2016 as a direct mutual fund platform. By investing in direct mutual funds, investors can save significantly and earn 1.5% extra returns on their investments. Investing in Mutual funds through Groww is free, as there are no account opening charges, subscription fees, commission, or redemption charges. Groww offers a wide range of mutual funds from 35+ Asset management companies.

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Groww mutual fund charges

Groww offers brokerage free mutual fund investment. They don't take any transaction fees, redemption charges, or commission from their customers.

Groww offers only direct mutual funds. The direct mutual fund gives an additional earning to the investors by way of saving on the commission that an AMC is required to pay to the agents or brokers who act as mutual fund distributors in case of regular mutual funds.

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Groww mutual funds app

Groww helps an investor to invest in a wide range of funds as per his financial goals and risk appetite through Groww trading platforms - Groww website and Groww mobile app. Groww offers the same investment platform to invest in MF and stocks. Groww started as a mutual fund investment platform and is well established in this space with a 90 lakh+ customer base. Groww mutual fund app is one of the highest-rated and fastest growing apps in the Indian mutual fund industry. Key features of the Groww platform include:

• Clean user interface with simple design
• Option to switch your external regular mutual funds to direct mutual funds for free.
• A dashboard to track all your investments and annualized returns.
• Direct mutual fund platform that allows you to earn an extra 1%+ return.
• Ready-made collection of mutual funds segregated across various categories like Equity, Debt, Hybrid, Solution-oriented, and others.
• Grouping of mutual funds as per risk, fund size, and mode of investment.
• Facility to compare the funds on key features like NAV, risk, returns, the rating that helps to make an informed decision,
• Option to invest in SIP or lumpsum mode.
• 5000+ mutual funds from 35+ Mutual fund partners.
• Zero fees, no transaction charges, no hidden fees.
• Invest in ELSS (Equity Linked Savings Schemes) funds to save taxes under section 80C
• Educative blogs and resources related to mutual funds.
• Various types of in-built mutual fund calculators.
• Facility to invest in Groww NFO.
• SIP starting Rs 500.
• Safe and secured app with 128-bit encryption.

 

 

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Groww Mutual Fund App download

Groww mutual fund app is available for free in the Google play store or App store.

To download the app:

• Visit Google play store/ App store.
• Search for Groww - Stocks & Mutual Funds.
• Click on install to download the app.
• Login to invest.

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Groww Mutual Fund Account

To access the Groww mutual fund account, you need to open an account with Groww.

Steps to open Groww mutual fund account:

• Download the Groww app and login/log in through the Groww website.
• Enter the email id and set the password.
• Verify the mobile number.
• Verify PAN Card.
• Enter Personal details like date of birth, gender, marital status, and residence status.
• Enter KYC details like occupation, income, and parent's names.
• Select the mutual fund nominee (optional).
• Verify Bank account details.
• Upload your photo, PAN card, address proof.
• Perform digital signature to complete the account opening process.

Documents required for Groww mutual fund account:

• PAN Card.
• Address proof like Aadhar Card, Passport, Voter ID, or Driving License.
• Photo.
• Scan Copy of your Signature
• Bank Account No. and IFSC Details.

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Groww Mutual Fund Calculator

Groww has various types of in-built calculators for mutual fund investment that help you calculate and analyse your fund requirements, returns, and final amount on your investment.

1. SIP Calculator

   SIP Calculator is a tool that helps an investor determine the amount you need to save, the amount you have invested, and a rough estimate (excluding exit load/expense ratio applicable if any) on the maturity amount based on your monthly SIP investment.

2. Lumpsum calculator

   A lump sum calculator helps an investor to calculate the estimated returns for the whole period on a one-time lump sum investment. These calculators help you make the best plan for your finances based on the estimated returns that may achieve your financial goals.

3. SWP Calculator

   Before knowing about the SWP calculator, let us first understand about SWP. SWP stands for systematic withdrawal plan and is for retirees and senior citizens. Groww SWP is a type of mutual fund investment wherein you invest a lump sum amount for a specific period from which you have an option to withdraw a certain amount at a monthly interval. At the end of the period, you get a final accumulated value based on the rate of return post deducting your withdrawal from the lumpsum amount.

   An SWP calculator helps you calculate your matured sum based on your monthly withdrawals. The calculator assists you set the withdrawal limits as per your needs with a cap based on the lump sum amount invested.

4. Mutual Fund Return Calculator

   A mutual fund return calculator calculates the return on your mutual fund investments for different periods. It enables you to do future financial planning based on the estimated returns.

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Groww Mutual Fund customer care

Groww has an in-built help and support section with a list of frequently asked queries that can help you resolve your issues. In case you do not have your issue listed, you can raise a ticket for the same.

Alternatively, you can also speak to Customer Helpline or the customer care team or chat with them through the website or app for your query resolution.

Groww Customer Care No.: +91-9108800604

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Groww Mutual Fund cut-off time

The mutual fund cut-off timelines determine the NAV at which you can buy or sell a mutual fund. To ensure you get the mutual funds on the same day NAV, the funds should reach the AMC the same day before the cut off timings. In case the AMC does not receive the funds before the cut-off time, the next day's NAV gets applicable to you. The cut-off time differs based on the type of fund and value.

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Groww mutual fund comparison

Groww provides a facility to mutual fund investors to compare mutual funds on specific key parameters like NAV, Risk, Rating, Returns, Expense Ratio, and Pros and Cons. It also provides the other details of the fund like launch date, fund manager details, holding details, etc. This unique feature offered by Groww helps the investors to have a better understanding of the mutual funds and help them select the right fund that suits their risk profile.

You can compare up to 3 mutual funds on Groww. To access this feature offered by Groww, visit Compare Mutual Funds - Groww.

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Groww NFO

NFO (New Fund Offer) is a subscription offer for a new fund launched by the asset management company (AMC) or mutual fund house to raise capital. Groww offers its investors to apply for NFO online through Groww mutual fund platforms. The company maintains a list of live NFO and recently closed NFOs.

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Groww Switch to Direct

Groww offers another unique feature to its customers to switch their external regular mutual funds to direct mutual funds for free. With this facility, Groww allows the investors to earn up to ~1.5% extra returns on their investments by saving commission on regular mutual funds.

The company provides a comparison between the direct and regular mutual funds that helps you know the commission saved if you opt for a direct mutual fund.

To switch to Groww direct mutual funds, you need to track your external mutual funds within Groww and then switch to direct mutual funds.

 

 

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Groww Best Mutual Funds

Groww does not provide any tips or advice. The company has a host of resources, educative and informative blogs for investors, beginners that help you select the right fund based on your risk profile and financial goal. Groww lists down the best/top mutual funds for each fund category based on the 1-year return and rating.

Through their blogs, Groww also provides a list of Groww Best Mutual funds, Best Groww Liquid Funds based on their analysis of historical returns and performance.

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Conclusion

Groww is known to be one of India's best apps for mutual fund investments. The company offers only direct mutual funds of the fund houses with a feature to compare between funds for better analysis and an option to convert your regular funds to direct mutual funds. Groww offers free account opening with zero transaction fees and no other hidden charges.Groww gives you access to mutual funds from 35+ AMCs to help you invest as per your financial goals using SIP or lumpsum mode of investment.

Frequently Asked Questions

Groww Competitors Review

Information on this page was last updated on Tuesday, October 17, 2023