Since there are many apps in the market these days, it is difficult to assess the authenticity. As such, just as you must have heard about other apps doing their rounds in the market, people often ask if Groww app is safe. Let us know more about the app and find out whether the Groww app is good or bad.
Groww app – Everything you wanted to know about it
The app was launched by Ishan Bansal, Harsh Jain, Neeraj Singh, and Lalit Keshre in December 2017. They are all ex-employees of Flipkart. This is known to be one of the fastest-growing investment platforms in India, as per the Groww app review. As of January 2022, the number of users has grown from zero to 2 million.
Is it safe to invest in the Groww app – How does it work?
The app is SEBI registered in the name of Finvantage Investment Adviser Private Limited. They have the registration number INA 20008981.
You will get to use the app on both iOS and Android operating system devices. You can invest in mutual funds with the help of this app. No paperwork is involved, and the process is simple and does not attract any cost.
All you need to do is buy and sell directly. You will also be able to invest in SIP without shelling out any commission. Tracking mutual funds you have invested in is another benefit you can avail yourself of with this app.
What do you need to register with the Groww app?
These are the following documents you would require to register with the app.
- Aadhar Card
- Bank details
- Pan Card
- Google Account or Gmail
- Internet banking
How does the Groww app make money?
One of the most common questions that investors ask about the app is how it makes money since it does not take any commission? By offering advisory services, add-on services, and premium features like investment and portfolio advisory on the platform, Groww makes money.
What can you do with the Groww app?
The Groww Balance will allow you to invest using the UPI with a single click. SmartSave helps you get the best returns compared to deposits in the bank. Many features will enable you to use this platform.
Is the Groww app safe for stocks?
Groww is safe and reliable. It is a trusted online discount broker that offers mutual funds, stocks, gold investments for its users.
Groww has plans to make investment opportunities in India, and of late, it has just concluded a $6.2 million Series A funding so that it can grow its operations. The company has also raised as much as$140 million as of April 2021 at a valuation of $1 billion.
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