Are you an investor who thinks it is impossible to track all your investments on one platform?
Groww has come up with a new feature, wherein you can see your existing as well as your external investments under one umbrella.
We have broken up the blog into three parts for your convenience.
- Go to your Groww profile and tap on ‘You’, after which, tap on ‘Track Existing Investments’.
- You will be directed to a page where various steps regarding ‘Switch’ will be explained. Read the instruction carefully and tap on ‘Next’
- You have to insert the email id that is linked to your investments and then tap on ‘Request Report’
- Next, you will receive an email from KARVY. Open the email and forward it to [email protected]
- Return to your Groww profile and tap on ‘Track Existing Investing’ and tap on I have mailed
- Once you tapped on ‘I have mailed’, it will direct you to a page with all your investments, the ones you want to move will have an ‘external’ tag on them. Tap on ‘External’.
Before we talk about switch, we need to understand that only regular funds can be switched.
Once you have tapped on ‘external’, you will get a ‘switch’ option, which you will have to tap on.
Once you have tapped on ‘switch’, it will show, ‘switch in progress’. After which, the fund will show that it is ‘Internal’.
Switching an SIP
in practice, you cannot switch an SIP from another platform.
However, you can stop your SIP from the platform you have invested in and then start an SIP on Groww.
For which, you must go to the site of the respective AMC/Broker company and cancel the SIP.
Here, you will have 2 options.
- You can either redeem the money and start a completely new SIP on Groww
- You can simply stop the SIP, which will effectively make it a lumpsum investment. After which, you can switch the fund and restart the SIP through Groww.Also, Starting an SIP on Groww is absolutely free of cost, so you need not worry about the extra charges!