Groww App Review - Smartest way to Invest in Mutual Funds & SIP

Are you looking to invest in Mutual funds or SIP's but don't know how to do that? Well no need to worry, like everything else, there an App for this too. Groww is a mutual fund investment platform and one of India's fastest growing online investment platforms, who has taken the new era social approach of having WhatsApp groups to educate investors. The company is located in Bangalore, and is a technology and data science company that offers a seamless and transparent approach to investing via a web platform and Android app. Today I'll be quickly reviewing their Android app. Let's get started.

Groww app makes mutual fund investments hassle free, paperless and is quite simple to use. All the mutual funds are available in one app and you can also invest in direct mutual funds with zero commission fee.

Groww Mutual Fund App Features;

The App is well built, simple to use and designed particularly keeping beginners in mind. People who've never made any mutual fund investments ever, would be able to invest with ease. It contains a list of expert-recommended mutual funds, ready to pick & invest. You also get to see the historical performance of that particular mutual fund by viewing the beautifully designed charts.

The app also displays latest finance news & insights. You can invest in mutual funds for free, no transaction charges are applied when you use Groww app. You can invest/sell anytime and all the money transactions will come directly to your bank account. 

Using the Dashboard, you can track your returns, annualized returns and also check details of holdings and mutual fund NAV. You can calculate returns by using the mutual fun SIP calculator, provided in the app.

How to Invest using Groww App
Below are some simple steps to get started.

  • From Google Play Store, Download & Install Groww App.
  • Register on the app & Sign In.
  • Go through One-Time KYC process to start investing.
  • Select any mutual fund.
  • Verify your KYC.
  • Start SIP or one-time lump-sum investment.

List of Mutual Fund Companies on Groww Mutual Fund App.

Below is the list of all the mutual fund companies present on Groww Mutual Fund app, as per the information provided by Groww on their Google Play Store page.

Mutual fund companies (AMCs) on Groww Mutual Fund app:
SBI Mutual Fund
Reliance Mutual Fund
ICICI Prudential Mutual Fund
HDFC Mutual Fund
Aditya Birla Sun Life Mutual Fund
DSP Blackrock Mutual Fund
Invesco Mutual Fund
Franklin Templeton Mutual Fund
UTI Mutual Fund
Quantum Mutual Fund
Sundaram Mutual Fund
Union Mutual Fund
Canara Robeco Mutual Fund
JM Financial Mutual Fund
Edelweiss Mutual Fund
Tata Mutual Fund
Indiabulls Mutual Fund
Kotak Mutual Fund
Mirae Asset Mutual Fund
BNP Paribas Mutual Fund
Baroda Pioneer Mutual Fund
IDBI Mutual Fund
BOI AXA Mutual Fund
Axis Mutual Fund
Taurus Mutual Fund
DHFL Pramerica Mutual Fund
Motilal Oswal Mutual Fund
Mahindra Mutual Fund
L&T Mutual Fund
LIC Mutual Fund
PPFAS Mutual Fund
IIFL Mutual Fund
Peerless Mutual Fund
Shriram Mutual Fund
IDFC Mutual Fund

Using Groww App for your Investments

The app is well-built and designed for beginners, you can get started with mutual funds by investing as low as Rs.500 INR and then gradually increase the investment as you learn more about it. The app comes with all the features one would need to keep track of their investments, the dashboard is well equipped with all the required tools, you can get a clear view & performance reports of your running investments.

Groww Mutual Fund app gives you the option to invest in all expert-recommended, well performing mutual funds, you can choose from the above given list. You can also invest in Tax saving mutual funds or ELSS mutual funds and get tax exemption under section 80c. The total exempt limit is 1.5 Lakh.

Mutual funds are better performing and gives better returns than Fixed deposits and are much low risk. Invest in equity funds, liquid funds, ultra short-term debt funds; small cap, large cap, mid cap, multi cap - for the long term and higher returns. Or invest in balanced funds, gold funds, sector funds or international funds, all in one mutual fund app.  You can sell your investments anytime you want, unlike real estate and gold. To get a better estimate of your returns, you can use the calculator provided in the app.

Groww is Safe & Secure

Groww uses latest security standards to keep your data safe and encrypted. They use BSE (Bombay Stock Exchange) for transactions and support all RTAs; CAMS, Karvy, Sundaram and Franklin. You can check your units on mutual fund apps in India like Mycams and Karvy. You can also switch your funds to Groww without any charges. 

Final Words

I'm a total newbie when it comes to mutual funds investment & SIP, but I always wanted to get started with them but didn't know how to? Groww app came to rescue and using this app I made my first ever mutual fund investment. The app is very much self-explanatory and does not need much to operate, you can easily get started with your investments and learn more about them on the way. The best part is that it gives you a list of well performing list of mutual funds and you can get started with as low as Rs.500, this makes it very low risk. 

My Rating: 3.5 out of 5

I hope you liked my quick review, I've been using this app for the past three weeks and am quite happy with it. Please let me know what you think about it in the comments below.


About Jimmie Luthra

Jimmie Luthra is a Mariner, Tech enthusiast, Blogger and Gadget reviewer. He is fond of technology and is usually found playing with some piece of tech. He is also a Guitarist, Music lover & fitness freak.
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