Groww App Review 2024 : Best App for Investing in Mutual Funds and Stocks

Last updated on March 12th, 2024 at 04:30 pm

By mastertheblogging

To manage portfolios in today’s fast growing financial world, it is necessary to use a trading app like Groww app review for investors. This is Bangalore based India’s financial services with more than 90 lakh customers, is a platforms which allows you to access your mutual funds accounts and manage your investments from the comfort of your Android device. It was started in 2016 by Flipkart employees: Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal, and now has grown to be one of the organized investment platforms in India. The company also offers Digital gold, US Stocks, and Fixed Deposit as other investment options for its customers.

Using this platform, you can invest in various financial products like stocks and mutual funds. Apart from this you can do stock market trading, Account opening, etc. And now the question arises is this app safe. Yes, it is absolutely safe to invest in this app.

You can also know your current investment value which is one of the best features for the beginners who have less idea on investing. Also it has a clean and user friendly interface which makes it a one stop solution for all your finance and investment needs. This interface makes a hassle free trading experience for the beginners.

As it is available for both Android and iOS users, this app has become the best solution for all your financial needs. Any user can start using it by downloading in their smartphone in just one click. With more than 90 lakh customers and more than 1000 team members, it has become one of the popular trading apps in India.

Table of Contents

Groww App Review Features

There are a number of features which makes this app one of the fastest growing investment platforms in India.

Simple and user friendly interface. It has a host of features like line and candlestick charts showing price movements, one-click buy/sell, free content and videos related to stock investments for beginners, complete information about all companies, etc.
Safe and secure. It provides 2FA validation and a new device sign up alert.
You can also view all the active devices logged in under the settings section.
It provides instant paperless account opening.
It provides the best trading experience with trading view charts.
It provides complete information on all listed Indian companies.
Groww stories provides the latest updates. They also have the latest news and insights, blogs, videos and content related to financial markets. The videos are available in 7 languages Hindi, Kannada, Telugu, Tamil, Gujarati, Malayalam, and English.
It provides real time price updates.
Also there is an in-app support system for quick resolution of queries.
You can also chat with the customer help desk.
The maximum brokerage charged per trade is Rs 20.
Zero commission direct mutual funds.
The mobile trading platform of Groww allows you to trade anytime from anywhere.
Customer awareness through educative and informative Blogs and eBooks.

How to use the this App?

Groww is a mobile based trading platform that is available for free for all customers. With a clean and user friendly interface, it provides hassle free experience to the beginners to invest successfully. Also the app does not charge any commission or transaction fees for investing in mutual funds, making it a good option for beginners.

It is a safe and secure platform allowing users to invest in stocks, mutual funds, etc. Here users can find their investment solutions. This app also provides users with analysis tools to help users inform about investment decisions.

How to download the Groww App and register on it?

To start investing, you have to first do Groww app download and open an account on it. You can also use the official website to open an account and start investing. It is available for both Android and iOS users. You can download the app from Google play store or Apple store.

Here are a few steps on how to download and register on the app.

Go to the Google play store for Android users and Apple play store for iOS users.
Then type Groww app on the search bar.
Click on the installation button and install the app.
After downloading, open the app.
After downloading the app, you have to register by clicking on the Login/Register on the top right corner.
Enter your email address and verify using the OTP sent to your email id.
Then click on the Submit button.
Enter your mobile number and verify KYC. Enter your PAN card details.
Give your bank details like IFSC code and account number and verify it.
Then choose the complete step option.

Account Opening

After installing the app, you need to open trading account with Groww app to buy or sell Groww stocks. Groww account opening is a simple, free and paperless process. You cannot open an account offline on the app.

After downloading the Groww app , register with your email id and mobile number.
Then verify your identity by giving your PAN card details.
Verify your bank details like IFSC code and account number.
Then click on Complete Setup under the stocks tab.
Read the application fee details and then tick to agree.
To unlock the stocks investment option for stocks, click on Open stocks account.
To complete the KYC details, enter your occupation details, income and name of your father and mother and then click on Next.
Enter the trade background from the list of values and then click on Next.
Write your signature on dark ink on white paper and then click the photo and upload your signature.
Register an account online using your aadhar number and verify using the OTP sent to the associated mobile number.
Read the instructions on account opening form and then click on Sign Now.
Enter your Aadhar number on the NSDL E-sign service portal and click on send OTP.
Enter the OTP sent and complete the account opening process.
The account gets activated after the document verification is completed at the broker’s end. It takes a few hours.

Groww App Referral Code

You can easily invest in mutual funds, stocks and digital gold using the app. You can get cash rewards of Rs 100 for every successful referral provided your friend downloads the Groww app from the valid and unique referral link and completes the onboarding process.

Groww app referral is for selected users who have invested on this app. To know if you are eligible for the Grow referral program, just go to the profile section of the the app and then to the “Refer and Earn” section. If you are eligible, you can find the “Share invite link” or “Invite via WhatsApp” in the refer and earn section.

Share the link with your friends and ask them to complete the entire account opening process and then claim the reward.

You will get the reward after your friend completes document verification and stock account activation. The reward will be credited to the Groww balance.

How to add money ?

You can add money in the Groww balance and can start investing. There is no need to make separate transactions every time. You can directly pay using the Groww balance money.

You can add money to your Groww balance using the app or website. Here are few steps to follow:

Login to your Groww account.
Then click on “You”.
Click on “Add money”
Decide the mode of your payment either through UPI or Net banking.
Complete your transaction using your preferred mode of payment.
Then come back to Groww app and click on “OK”
Now you can start investing in the Groww app.

How to withdraw money from Groww App?

Groww app does not charge for withdrawal of money from the app or for redemption of mutual funds. To withdraw money from Groww app :

Login to the app and navigate to the “You” section
Select your Groww Balance
Then choose “Withdraw” option
Enter the desired withdraw amount and click on “withdraw”
The Withdrawal amount will be credited to your account within 24 hours.
The withdrawal that exceeds 25,000 will be processed during the bank’s operational hours.

What can you do in Groww app?

There are a number of features that makes this app best for investors for investing.

You can invest in any fund (SIP or One-Time). You can make a one time payment for any fund or you can choose SIP(Systematic Investment Plan) in any of the funds where the pre decided amount will be deducted from your account monthly and will be invested in the selected mutual fund.
If you want to redeem your money from any mutual fund then you can easily do it with just one click on the Groww app and this money will be transferred to your bank account.
You can invest more if you want to your mutual fund with the help of Groww app.
If you want to cancel an ongoing SIP in any mutual fund scheme, then you can do it using this app.
Apart from making investment on Groww, you can also make fast and convenient payment to anyone. From the app itself you can create a new UPI ID or, if you prefer, synchronize your account with an existing one. You will also be able to make payments by scanning QR codes. All you will need to do is set up your user account correctly.

Groww app charges

It offers free account opening and zero maintenance charges. Mutual fund through this app is free with no transaction charges. An investor has to pay brokerage charges, Demat charges, and other regulatory charges like STT, exchange transaction charges, GST, and Stamp Duty, for stocks.