The first rule to getting rich is to invest and hence Groww app is trusted and secure for investment. How to invest in Groww app? What is the Groww app? Is it safe to use? What is the minimum amount I can invest in Grow App? I will tell you all your questions in this article. You must have heard a famous saying that the rich get richer and the poor get poorer.
But what is the concept behind this statement? If you are earning through a Job or business then take out of 10% amount and use it in investment. That’s what Rich people do, they don’t save their money, they invest it in the market. So just suppose that you are saving 10 thousand rupees in the year in your bank account. How much it will become? The bank may give you 3-4% interest only. But if you invest the same amount in any mutual fund it will give you more than that. You can earn 25-35% by investing your income in a mutual fund.
What is Groww App?
Grow app is a platform where you can invest your money in Mutual funds or in the share market. You can use your money for trading and investment. It is one of the most secure and fastest-growing investment apps in India. Grow app has 90+ Lakh customers and this app is directly available in the Google Play store on Android devices.
It is free to download and you don’t have to pay any single rupees for this app. There is no other competitor like this app in the market and I personally use grow app for Mutual funds.
Also, read Buy Now Pay Later Apps
If you have strong knowledge of the Share market then this will be the best app for you. You can track all your invested money in 1 click. If you really want a good return on your money then you can use your money in mutual funds or the stock market. Groww app provides both the things, Mutual funds, and the Stock market.
Is the Groww app safe?
Groww app is 100% safe as you can also check its review in the Google play store. If you ask anyone who invests their money, they will also recommend you to use Groww App. This app comes with 128-bit encryption and it is certified with SSL certification. It keeps your information safe and secured. The best thing about this app is, its transaction is done by the Bombay Stock Exchange (BSE).
BSE was established in 1875 and it is India’s biggest security market. So you don’t need to worry about its security, it is safe for you. There are so many fake websites or scammers who claim to have less MB of the Groww app. Do not install or download this app except Google Playstore.
How to use this app for mutual funds?
The first step is you need to install it from the Google play store in order to use it. You must have your Aadhar card and PAN card for documentation purposes else you can not use this app. Your mobile number should be registered with your Aadhar card then it will be easy to open your account. If your phone number is not registered with your Aadhar card then you have to send a physical application form to their office.
After installing this app on your phone you need to verify your phone number and PAN number. Thereafter you have to enter your basic details in the app like your name, date of birth, etc. After completing all steps, you need to add your bank details for the transaction. For KYC verification it will ask you for an Aadhar card or Driving License.
Then you will get an option of E-sign where you have to sign digitally. Now you are done with the Documentation process and you can start your investment in Groww App. You can also earn rewards by referring to this app to your friends.
How to invest in this app?
The best thing about this app is you don’t have to pay brokerage charges, or hidden fees in this app. If you are new to a Mutual fund and wanted to invest in this app then you can start from 100RS to 500Rs+. If you are already an investor in Mutual funds through an agent then you can import all the details in this app.
You can transfer your mutual fund balance from a regular to a direct scheme. Eventually, you will save your agent commission. You can also track and analyze your external mutual fund in this app. The second best thing about this app is, if you already investing in mutual funds through other apps in the market you can switch to the Groww app.
While investing in a mutual fund you will have 2 options. The first option is you can invest your money in SIP (Systematic Investment Plan) or make a one-time payment. You will find so many companies like ICICI Prudential, Axis Small-cap, Tata Digital, SBI small-cap and etc. Each company has different return plans and you can check them on the app itself.
You will also find a SIP calculator where you can check your return amount as well. You can invest your money from six months to 5 years. The longer you invest the more you will get your return. In this way, you can invest your money in Mutual funds.
What is SIP in the Groww app?
SIP stands for a Systematic Investment Plan. SIP gives you the option to invest your money according to your choice. While investing your money you will get so many SIP plans, in short, it’s a kind of EMI. You can set a specific amount per month to invest in the Groww app. You can set Autopay or manual payment every month. And in this way, you can get high returns in the Groww app.
If you are a beginner or want to learn how the groww app works, then you can start from 100 Rs only. Not every company will give you to start from 100Rs, you can cross-check the company’s name listed in the app. From 100 to 500 Rs is the minimum investment in the Groww app. Now you must have got an idea of how to invest in Groww app.
Conclusion.
Just remember if you want to grow your money, then saving won’t work. I used to do the same mistake, I would only save money and I did not use to get anything from saving. Use 10% of your income in investment then only you can grow your money every day. The more you invest the more you will get your returns. World’s richest people also suggest everyone spend a small amount of their income on investments.
I know not everyone can save their income due to life expenditures. But once you understand this investment trick, you will never lack money in your life. People are confused about where they should invest, and due to a lack of knowledge, they end up having a loss in investment. But the Groww app is a fully secured and trusted platform to double your income.
I have told each and everything about the Groww app and how to invest in Groww app. Hope you would like this post, share this post with your friends and family member if they want to start investing.