Groww App Review: Mutual Fund Investing App

Recently I attend an event organized by Groww. Its all about Investment journey, how they start it and what is there motto. Basically, that event is a part of their marketing campaign, I personally like their strategy to invest in Mutual Funds. I was doing this investment for 1 year and I really admire the concept of Mutual Fund. After this event I had decided to use Groww. This is really an amazing Platform, user friendly, Amazing Interface & UI, UX interface. Everything is built as per customer’s usage.
Groww is a platform which helps you to invest in more than 5000 mutual funds from a single place. You can track your portfolio online using its platform.

In this article, I will try to give all the answer the people generally have for this app.
So, Let’s start Groww app review-

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Is Groww App free?

Yes, It’s free. They are the one who doesn’t charge any brokerage or any commission from your investment. That’s why I will recommend you go for this, as this is the right platform to invest, on the other hand its safe.
I include this point in Groww app review, as this is the major advantage.

How does Groww app work?

Groww let their user to sign up for an app, this signup will be complete after submission of required document. Now, you can start investing in mutual funds with as minimum SIP of 500. You can either choose SIP or one-time investment. The tenure they provide is for the span of 1year, 3 year, 5year. This way the tenure will goes on. You can cancel the SIP anytime but with some amount will be deducted as per the company policy .

Is Groww registered with SEBI?

Yes, Groww is SEBI registered adviser in the name of Finvantage Investment Adviser Private Limited based out of Bangalore. Their registration number is INA20008981. Must question to be included in this Groww app review.

How do I withdraw money from Groww?

You can withdraw money both by SIP or Total amount Invested
To withdraw SIP investment-
1. Login to your account
2. Click the dashboard, click the SIP you want to withdraw.
3. You will get two option invest more or Redeem. Click Redeem,
answer the following pop up questions and done.

To withdraw Total amount Invested
1. Login to your account, click on You and tap on Groww Balance
2. Tap on “withdraw”.
3. Enter the amount want to withdraw, tap on withdraw button and done!

Can I invest lumpsum in existing SIP?

Yes, you can invest lumpsum in existing SIP. Simply you must go to the dashboard, click the
SIP and you will see two major option, Redeem or Invest more. Click on Invest More, type the amount you want to pay and done!

Read article: Cred App Review

How do I cancel SIP in Groww app?

You can stop a SIP simply by going to ‘My SIP’ and clicking in ‘Cancel’. After that, if you want to withdraw your money, go to ‘My investments’ and click on ‘Redeem’

Groww Customer Care Number

Google app review-
You can reach them on 91088-00604 which is the number mentioned on their Facebook page
The support team of Groww is quite helpful and will answer all your queries.
You can get in touch with the Groww customer care team by directly email them on support@groww.in

FAQs Related to Groww App

  1. Is Groww app safe?
    Yes it’s completely safe. Once you completed the details and login into the app, everytime it will ask for an unique number. All personal information is stored using 256-bit encryption
  2. Is Groww really free?
    Investing via Groww in mutual funds is free, but for stocks they are having their own charges.
  3. Is Groww app regulated by SEBI?
    Yes, Groww is SEBI registered adviser in the name of Finvantage Investment Adviser Private Limited based out of Bangalore. Their registration number is INA20008981
  4. Can we invest in stocks?
    Yes, you can invest in stocks as well via Groww, account opening charges are 200 INR.
  5. Is there any hidden charges for demat account?
    As per now there is no such hidden charges, but you have to pay 25 INR monthly as a maintanance charge.

Conclusion

You can go for Groww app, its an amazing app especially for millenials. Their customer support is also quite friendly and quick. At last you can trust them, they are trust worthy brand and soon going to be the no.1. We personally like their services and using it from past 1 year.

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