Is Groww the perfect platform to invest in mutual funds?
- Asked By
- Updated On:10-Aug-2021
- Replies:1
Short Answer
Groww is one of the best mutual fund applications that offers various direct mutual fund investment options. Moreover, it does so without charging anything. It offers a magnitude of offerings and features ranging from the brief description of the mutual funds to the various brokerage and other calculators for investors' references.
Detailed Answer
The Bangalore-based mutual fund investment platform rose to fame due to its seamless and easy investing in direct mutual funds. The platform offers well over 5000+ different mutual fund investment offerings where investment can be made through SIP or lumpsum. In addition, there are a wide range of mutual fund types based on the market trend and even the type of mutual fund you wish to be associated with.
The platform takes no charge whatsoever on opening an account, investing in mutual funds, or for anything for that matter. There are no hidden charges as well. Moreover, the platform does offer a well-built and robust mobile and desktop application to manage your mutual fund investments. Investors can view various details about the mutual funds, such as returns, expense ratio, NAC, risk, ratings, and so on. Its helps investors know how much they could expect and how much they could make over a fixed period.
Grow does offer a paperless account opening procedure. Head to the application or site, enter your mobile number, enter the OTP, and then verify through KYC and you're good to go. It hardly takes 5-10 minutes to open an account, and investments are quick based on the mutual funds selected. Also, the platform does offer multiple calculators where you can see how much you could expect your investment to grow over a specific period.
Furthermore, the platform does organize different talk shows and video podcasts every week, ranging from the CEO of companies and other investment experts to discuss briefly over mutual funds and the market, which is another plus point on Groww's end to educate investors of making wise and calculated investments.
Groww Mutual Fund Investment Platform
Groww is one of the leading applications for mutual fund investments. Many brokers have tried to match the offering of Groww but have failed miserably. However, Groww has recently opened up avenues for investing in the stock market as well. Though it might not be that fluid and comparable to reputable stockbrokers, grow does a fine job in connecting the average investor to a magnitude of direct mutual funds with a lower expense ratio from more than 35+ AMC.
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Discussion (0)
Zerodha as well as Groww, both allow investors to invest in Mutual funds. Groww does not charge any Account opening fees or Annual maintenance Charges but Zerodha charges Rs 200 for Account opening and Rs 300 for AMC. This makes Groww a cheaper and better option when it comes to investing in mutual funds.
There are plenty of direct mutual funds investment platforms such as Groww, Coin by Zerodha, Kuvera, and others. However, choosing the best would entirely depend upon your requirement and preference.
Yes, Groww app is completely safe for mutual fund, stock investing and trading. As a popular mutual fund investment plaftorm, Groww established itself quite well in the past few years. Now, it has also enetered the stock broking space so it's really good to see new entrants amid existing top discount brokers in India.
Yes, you can invest in US stocks and securities with the HDFC Sky app. Moreover, there are many more investible options provided by them.
Investors looking to invest in mutual funds without a Demat account can invest through financial institutions, independent financial advisors, AMC, and online portals.
Comparing the two stockbrokers to see which ones is the best can be a hurdle given that they both have so much to offer. However, if you want to know the broker, is that better? Then we have all the differences and comparisons listed below.
Fincash is a yet another online investing platform that was started in 2016 or you can call it a fintech startup. Having raised funding, it has grown fast to give tough competition to other market players.
Discount brokers have gained a lot of popularity in the past couple of years. Zerodha is currently India's largest and most trusted discount broker which is also the best option for beginners. It has all the necessary qualities required for a good broker like low commissions, low-maintenance charges, high-quality trading terminal, etc.
Yes, now you can easily invest in stocks through the Groww App. It is a popular discount stock broker firm in India who recently expanded its services to the the stock broking arena. It allows traders to invest online without any subscription fees, transaction charges or any other charges.
Yes , NRI can invest in Mutual Funds in Zerodha by opening a non-PIS account. However, there are restrictions for NRI investors with PIS accounts, as well as investors based in the US and Canada; they are not permitted to invest in mutual funds in Zerodha.