Frequently Asked Questions (FAQ)

Common Questions

Can I invest in a portfolio?

You can invest in any portfolio available on Groww. You can either choose from the available ones or you can build your own and invest.

Can I transfer my existing investments to Groww?

Yes, you can move your existing mutual fund investments to Groww without any paperwork. Contact 9108800604 or support@groww.in for knowing the process.

How are portfolios created?

Portfolios are created through portfolio creation tool on our website. You can try building one yourself.

Is there any fees or charge involved?

Groww does not charge any fees to its customers. How do we make money? We get a small commission from mutual funds companies.

What happens after I invest?

Groww tracks your portfolios and sends you notifications if anything needs your attention. You can also track your investments anytime on your dashboard.

What is a portfolio?

A portfolio is basket of mutual funds. Groww curates portfolios that you can invest in for your goals. You can also create your own portfolios.

Why invest in a portfolio?

Portfolio helps you in diversifying your investments across different asset classes. It also helps you in maintaining correct asset allocation for your goals.

Can an NRI invest in mutual funds through Groww?

Yes, you can invest in Indian mutual funds through Groww. It’s almost as easy as a resident Indian investing. Sign up and complete your onboarding process at groww.in/onboarding. Contact us at 9108800604 or support@groww.in for knowing the next steps. To know more about investing in Indian mutual funds as an NRI, click here.

How can I start investing?

Investors need to complete an account opening form before they start investing. This account opening process is one-time and completely paperless. An average user on Groww completes it in less than 3 mins. There are three major things that are part of account opening process – KYC, Bank details and document proofs.

What is KYC? Why do I need it?

KYC (Know your customer) is a SEBI mandated a one-time process for all customer who wants to invest in mutual funds. You need to provide your PAN number to do complete KYC process along with address proof. Check more here – https://groww.in/blog/ckyc-mutual-fund/

 

Why do you need my Bank Account?

We need your bank account information at the time of selling your investments. When you redeem (sell) your investments, the money is transferred to the bank account that you provide. We need it upfront as it will smoothen your withdrawal process. This is also required by regulations.

Why do you need my PAN number?

Pan card details are required to verify if your KYC is completed. If you are not KYC verified, PAN is required to get your KYC done. You can find your PAN number here:  https://incometaxindiaefiling.gov.in/e-Filing/Services/KnowYourPanLink.html

Or look for your Pan card/ Salary Slip.

Portfolios

Can I share any portfolio for review to my friends?

Yes you can. You can either use the sharing buttons available on portfolio page or you can just share the link of portfolio.

How do you make sure that portfolios created on Groww are not biased?

Portfolios created on Groww are at discretion of the creator. However our analysis is unbiased as it’s generated using algorithms.

I want to build my own portfolio. How does Groww help me?

Portfolio creation tool on Groww helps you in adding funds and assigning weights to these funds. Our powerful real-time data platform helps you in analyzing your portfolio across various dimensions like track record, risk, expenses, pros and cons.  

I want to invest later. Can I save a portfolio to invest later?

Yes you can. Just press “Add to watchlist” button on your portfolio page. Investing is a serious business. We recommend to thinking carefully before investing.

There are so many portfolios available? Which one shall I choose to invest?

You can choose any portfolio suitable to your needs. Typically, there are 4 ways investors choose portfolios on Groww.

  • Portfolio for their goals, e.g., buying a house
  • Portfolio aligned with their profile, e.g., young parents portfolio
  • Portfolios with desired asset allocation, e.g., all-weather portfolio
  • Portfolios to take bet on something (not recommended for beginners)
What does “Customize” button mean on a portfolio page?

Through customize button, you can add or delete funds to a portfolio. In addition, you can also change the weights of funds in your portfolio.

SIP

Can I alter my SIP?

You can alter your SIP (change the amount or date) by cancelling the existing one and starting a new one.

Can i change the scheme/amount/SIP date?

Once a SIP is set you can’t change the scheme/amount/date. But you can cancel the existing one and start a fresh in easy steps.

Can I renew my SIP after the time period is over?

There is no time period for the SIP. You can cancel and start again when you want to.

Do I need to make a manual payment every month for my SIP?

No, you don’t have to make a manual payment for a SIP every month. Once you add BSE as the biller in your bank, the next installment will be automated. Read the instruction here https://groww.in/blog/paperless-sip-groww/

Does SIPs have a risk associated with it?

Every mutual fund has a risk associated with it. The risk is lesser if you invest via SIP compared to Lumpsum.

How can I close a SIP?

You can close/stop SIP anytime you want. Go to MySips from the dashboard and cancel the SIPs that you wish to close. This will stop further investments. Your past investments in the Mutual Fund will continue to stay invested till you redeem the money.

How can I redeem the funds from a SIP?

Redeem is possible with a click of a button. Go to Dashboard, select the Mutual Fund you want to redeem from. Click on the Redeem button, put the amount and the funds will come to your account within 2-3 working days.

How does SIP of ELSS funds work?

SIP of ELSS works the same way as it works for any Mutual Funds. The additional restriction in ELSS is of 3-year lock-in. Each installment of the SIP in ELSS is locked-in for 3 years from the investment day.

How is my next SIP date calculated?

Every mutual fund has a set of allowed SIP dates. You can choose any date from the available dates. When you start a SIP, your first installment is due on the same day. The next date will be the date you chose, 30 days after the start date. For e.g you started SIP on May 10th. And the available dates are 1, 7, 15,21, 28 for a Mutual fund. Then your next SIP date can be June 15, June 21, June 28, July 1 or July 7.  

What if I miss a month’s payment?

There are no charges or penalty if you missed any month’s payment from Mutual Fund’s or Groww side. Your investments will remain as is. You can pay it from the next month onwards.

What is a SIP?

Systematic Investment Plan (SIP) means investing a fixed amount, regularly in any mutual fund. You can read more about SIP here.

What is a tenure of SIP?

SIP done on Groww doesn’t have any tenure. You can stop the SIP whenever you want by visiting MySIPs.

What is the minimum amount needed to start a SIP?

SIPs can be started with as low as Rs.500. Here are some good funds that accept as low as Rs 500 per month SIP – Investing with Rs 500. 

Transactions

How do I know when a transaction is complete?

All your transactions are available on transactions page. Click on your profile on the top right to visit this page. You can check all your transaction status here.

How do I purchase a mutual fund or a portfolio?

You can purchase a portfolio or mutual funds through your net banking account. For security purposes, we allow transactions only through the bank that you provide during your account opening process.

How much time does it take for transaction to complete?

When you purchase or redeem, we provide the exact date when your transaction will be complete. Mutual fund purchases typically take 2 working days. 

How safe are transactions on Groww?

Transactions on Groww are very safe. We use BSE (Bombay Stock Exchange) for all transactions in the backend. Also, your information is protected using 256-bit encryption.

What happens to my in the rare event of Groww shutting down?

Don’t worry! Your money is invested directly with the Mutual Fund companies (AMC). You can access it anytime by logging-in to their website (with the PAN and mobile no.).

What is NAV? What are Mutual fund units?

Net Asset Value (NAV) is the price of a single unit of the Mutual Fund. A unit is like one share of the Mutual fund. When you buy any Mutual Fund you are allotted a number of units at that day’s NAV, such that NAV*units = amount invested. Similarly, when you redeem an amount, you sell a number of units at this day’s NAV, such that NAV*units = amount redeemed.

Fees and Charges

Are there any transaction charge on Groww?

No. It is always free to move money in and out of investments. Please note that exit loads, if any, charged by mutual fund companies would still apply.  

Do I have to pay taxes on money I make through my Groww account?

Yes, you may need to pay taxes on realized capital gains. We will provide you the summary of tax applicable by end of the financial year. Please note that Groww does not provide tax advice, as of now. If you have questions about the tax implications of your Groww account, please consult with your tax advisor.

How do you make money?

Groww gets a small commision from funds. Groww does not deduct anything from your investments.

What are charges and fees for investing with Groww?

Groww does not charge any fees or charge to its customers. It is free for customers.