Are you thinking of using Groww as your online brokerage platform? Done with research and also have made up your mind about what to invest in? Well, then the next thing in line to know about is the Groww charges and commission. It is common knowledge that when you choose any brokerage for trading, then there is always a certain amount of fees and commission to pay for each trade you execute. In this article, we will go over everything related to Groww. We will compare Groww vs Zerodha charges and inform you about Groww charges calculator, Groww account opening charges and how to avoid DP charges in Grow.
Groww Charges, Brokerage Calculator and More
Groww had an impressive rise in the Indian market in recent years. As people are becoming more and more aware of the different investment avenues, the desire to explore new platforms has increased. Groww enjoys a solid userbase as it is simple to understand and does its work effectively. Before we learn more about Groww charges calculator and how to avoid DP charges in Grow, let us understand the platform itself.
What is Groww?
Groww is a Bangalore-based broker that provides direct mutual funds, initial public offerings (IPOs), and flat fee online brokerage services. Nextbillion Technology Private Limited, a member of the NSE and BSE and a stockbroker registered with SEBI under the name Groww, uses this moniker as its brand.
The platform was launched in 2016 as an online platform that targeted direct mutual fund investments. Midway through the 2020s, Groww added equity trading to its lineup of products. The organization also provides its clients with Fixed Deposit, US Stocks, and Digital Gold as additional investment possibilities.
No matter the size or price, the brokerage fee for an order is capped at Rs. 20. Groww provides cost-free mutual fund services, including no fees for purchasing or redeeming mutual funds. Groww also gives its investors a flawless trading experience with its trading platform, Groww (online and mobile trading app). It has 128-bit encryption, making it a reliable and secure app. As of November 2020, Groww had a robust user base of 90+ lakh people, making it one of India’s fastest-growing platforms.
It does not provide any advice, suggestions, or research services, in contrast to full-service brokers. Groww offers free eBooks, educational blogs, and other tools to help investors and beginners understand the fundamentals of trading and investing to make well-informed investment decisions.
Features of Groww
Groww comes loaded with features that make the platform stand out from its competition. Some of them are mentioned below.
- The app has a user interface that is straightforward, intuitive, and tidy.
- One-click sells or buys feature.
- Instant opening of a paperless account to save time.
- Updated candlestick charts to display price changes and past results.
- Comprehensive data on all Indian corporations that are listed.
- Latest information about financial markets, including blogs, resources, videos, and content.
- Updated prices in real-time.
- For prompt issue resolution, use the in-app help and customer support feature.
- Chat service available with customer service.
Fees and Commissions of Groww
You can open a demat account and stock trading account with Groww. But, you will have to pay certain Groww charges to get these services. Groww’s fee structure is pretty clear for the traders to understand and you can find them mentioned on the official site of Groww. Now let us move to account opening charges after which will go over Groww charges calculator and how to avoid DP charges in Grow.
Account Opening and Annual Maintenance Charge
On many platforms, you need to pay a fee for opening an account for trading. With Groww, you will not pay any Groww account opening charges for starting your trading or Demat account.
|Opening Trading Account||0|
|Annual Maintenance Charges For Trading Account||0|
|Opening Demat Account||0|
|Annual Maintenance Charges For Demat Account||0|
Account Charges Of Demat Account
You will have to pay separate account charges for the Demat account that is not included in the trading commission. Here are the account charges that you will have to pay:
|Transaction ID||Transaction Types||Charges (INR)|
|5||Buying-Transaction Charges||Rs. 0|
|6||Selling-Transaction Charges||Rs. 8 + 5.50 (CDSL) / ISIN|
|7||Selling- Off-Market Transactions||Rs. 8 + 5.50 (CDSL) / ISIN|
|8||Failed Transaction||Rs. 50 / ISIN|
|9||Pledge Creation Or Closure Or Confirmation||Rs. 20 + 12 (CDSL)|
|10||Pledge Invocation||Rs. 20|
|11||Conversion – DEMAT||Rs. 150 + courier charges / certificate|
|12||Conversion Rejections – DEMAT||Rs. 0|
|13||REMAT||Rs. 150 + courier charge / certificate|
|14||Instruction Book For Delivery||Rs. 0 for first 10 leaves / Rs. 100 + courier charge for additional 10 leaves|
|15||Statement Request (Periodic Or Adhoc)||Rs. 0 for Email statement and Rs. 10/page for physical statement|
|16||Modification Request Of KYC||Rs. 50|
|17||Upload And Download Of KRA||Rs. 50|
|18||Physical Client Master Report||Rs. 20 + courier|
|19||Inter-Settlement Charges||Rs. 13.5 + GST|
Brokerage Charges or Commission
A trader with an account with Groww will have to pay a certain brokerage or commission to the platform. Regardless of whatever you invest in like commodities, equities or currency derivatives, there is a certain percentage as Groww charges that is to be paid.
|Type Of Investment||Brokerage Fee (INR)|
|Equity||Intraday||Rs. 20 or 0.05% (whichever is lower) per executed order|
|Delivery||Rs. 20 or 0.05% (whichever is lower) per executed order|
|Options||Rs. 20 per order|
|Futures||Rs. 20 per order|
|Fixed Monthly Fee||NA|
Transaction Charges Of Groww
For the traders, they need to pay trade clearing charges and exchange turnover charges as transaction charges. You can also easily compare the Groww vs Zerodha charges before making a decision.
|Trading Segment||Charges (INR)|
|Equity||Intraday||BSE – Rs. 300 or 0.003% per crore (each side)
NSE – RS. 325 or 0.00325% per crore (each side)
|Delivery||BSE – Rs. 300 or 0.003% per crore (each side)
NSE – RS. 325 or 0.00325% per crore (each side)
|Options||NSE – 0.053% on premium|
|Futures||NSE – 0.02%|
Taxes On Trading Using Groww
Other than the charges and trading fees, you will also have to pay the taxes levied by the government. Groww announces and mentions these taxes in the contract so that you are aware of your obligation.
|Type Of Taxes||Rates|
STT Or Securities Transaction Taxes
|Equities||Intraday||0.025% (selling side)|
|Delivery||0.1% (buy and sell side)|
|Options||0.05% on the premium (sell side)|
|Futures||0.01% (sell side)|
|Commodities||Options||0.05% (sell side)|
|Futures||0.01% (sell side) (non-agri)|
|Right To Entitlement||0.05% (sell side)|
|On Exercise Transaction||0.125% (sell side)|
18% (brokerage, transaction charge, and SEBI fee)
|Stamp Duty||Delivery||0.015% (buy side)|
|Intraday||0.003% (buy side)|
|Equity Futures||0.002% (buy side)|
|Equity Options||0.003% (buy side)|
|Currency F&O||0.0001% (buy side)|
|Commodity Options (MCX)||0.003%|
|Commodity Futures (MCX)||0.002%|
Also Read: Wazir Login Guide
Groww vs Zerodha Charges
Groww is a game changer when it comes to discount brokers on the internet these days. Among the competitors, Zerodha stands to be one of the main opponents. A member of NSE, BSE, MCX, and MCX-SX, Zerodha is an Indian financial services business that offers brokerage-free equities investing, institutional and retail broking, currency mutual funds, and commodities trading, on all stock market and commodity market platforms. As the pioneer of ‘India’s first discount brokerage,’ Zerodha asserts that they introduced the ‘discount broking’ approach that is used in global countries.
Now, one of the main things that users pay attention to while choosing any trading platform is, the charges they have to pay. Here is a comparison of charges between these two:
Account Opening Charges
|Account opening charges||Demat account||INR 0||INR 0|
|Trading account||INR 200||INR 0|
|Annual maintenance charges||Demat account||INR 300||INR 0|
|Trading account||INR 0||INR 0|
Demat Account Charges
|Dematerialization charges||Each certificate costs INR 150 + courier fees of INR 100.||Each certificate costs INR 150 + courier fees.|
|Each certificate costs INR 150 + courier fees of INR 100 + CDSL charges||Each certificate costs INR 150 + courier fees.|
|Advance deposit||INR 0||INR 0|
||INR 8 + Rs. 5.50 (CDSL Fees)/ ISIN|
|Credit||INR 0||INR 0|
|Pledge creation charges||INR 30/ Request||INR 20/ Request + CDSL charges|
|Pledge invocation charges||INR 20||INR 20|
|Failed instruction charges||INR 50/ISIN||INR 50/ISIN|
|Other charges||Bounced Cheque – INR 35
Physical Statement – INR 50
Request for making changes in CML – INR 25
Request for KRA Upload/Download – INR 50
INR 50 for KYC modification
|Future||INR 200 per Cr in NSE||002% in NSE|
|Options||INR 5300 per Cr (on premium) in NSE||0.053% on premium in NSE|
|Intraday||BSE: INR 300 per Cr (0.003%); NSE: INR 345 per Cr (0.00345%). (each side)||BSE: INR 300 per Cr (0.003%); NSE: INR 325 per Cr (0.00325%). (each side)|
|Delivery||BSE: INR 300 per Cr (0.003%); NSE: INR 345 per Cr (0.00345%). (each side)||BSE: INR 300 per Cr (0.003%); NSE: INR 325 per Cr (0.00325%). (each side)|
|Currency||Futures||BSE: INR 22 per Cr (0.00022%);
NSE: INR 90 per Cr (0.0009%). (each side)
|Options||BSE: INR 100 per Cr (0.001%); NSE: INR 3500 per Cr (0.035%). (each side)||NA|
|Commodities||INR 260 per Cr||NA|
|Equity||Future||The lowest of INR 20/ order or.03%||INR 20/ order|
|Options||INR 20/ order||INR 20/ order|
|Intraday||The lowest of INR 20/ order or.03%||The lowest of INR 20/ order or.05%|
|Delivery||INR 0||The lowest of INR 20/ order or.05%|
|Currency||Futures||The lowest of INR 20/ order or.03%||NA|
|Options||The lowest of INR 20/ order or.03%||NA|
|Commodities||Futures||The lowest of INR 20/ order or.03%||NA|
|Options||The lowest of INR 20/ order or.03%||NA|
|Margin trading||INR 20||NA|
|Call & trade||INR 50/ order||NA|
|Minimum brokerage||.03% on F&O and Intraday||.05% or INR 20 / order|
|DP charges||INR 13.5 / scrip||INR 8 + INR 5.50/ ISIN|
Why Choose Groww?
Here are some advantages that you get with Groww.
- Groww offers zero-cost mutual fund investments, free transactions, and paperless online establishment of Demat accounts.
- SSL encryption using 128 bits.
- For delivery trading, Groww charges Rs. 20 per completed order or 0.05% of the order amount (whichever is lesser).
- Intraday equity trading at 20 rupees, or 0.05% (whichever is lower).
- Get a thorough analysis of the stock together with business financials for free.
- Zero DP fees at purchase.
- Highly regarded Groww mobile app facility for US stock investments.
Why Choose Zerodha?
Below are some feautures of Zerodha that you can analyze and compare with Groww.
- Zerodha Charge a fixed fee of $20 for each order that is completed.
- A cutting-edge trading platform.
- There are no upfront costs, little brokerage fees, or minimal contract fees.
- Direct Mutual Funds with no brokerage fees.
- On transactions involving equity delivery, Zerodha does not impose a brokerage fee. A platform for investing in mutual funds is offered by Zerodha.
- Offers intraday trading leverage of up to 20x.
Groww Brokerage Calculator
Let us now understand Groww charges calculator. Now, that you are aware of what different Groww charges a trader needs to pay while buying or selling. You must be worried about how to calculate the exact amount of commission or charges to pay. Groww has its brokerage calculator that allows users to calculate the exact brokerage they will pay.
You may find out the commission for each purchase and sell transaction you’re about to conduct by using this basic but useful little tool called a brokerage calculator. You only need to enter the specifics of the transaction you’re about to make. The amount of commission that applies to the transaction will be calculated automatically by the program.
Using this Groww charges calculator is pretty easy and simple. All you need to do is go to the official page of Groww and open the calculator page. Choose the asset category you want to trade in. Equity delivery, equity intraday, futures and options are normally the options.
After doing that, select the order type, either buy or sell. Next, enter the volume of the asset you want to buy or sell along with the buy and sell price per share. After that, decide which exchange you’ll be using to carry out this transaction. Lastly, press the calculate button. The amount of commission you would be required to pay will be displayed right away by the online calculator for brokerage. Hopefully, you have now understood Groww charges calculator. Let us now tell you how to avoid DP charges in Grow.
How to Avoid DP Charges in Groww?
Groww does impose certain financing costs on particular transactions you carry out when holding your assets in a Demat account. A depository participant (Groww with CDSL) is like a bank that safeguards your funds on your behalf. The DP acts as a vehicle for purchasing assets, holding them, and engaging in transactions with them as needed. Therefore, one must pay certain DP charges. If you trade frequently, you might want to understand how to minimize these costs.
Some DPs, for example, levy a fixed cost for every trade that investors make in their trading accounts. Others impose fees depending on a portion of the transaction, such as when you sell stocks. Groww charges a fixed cost of INR 8 along with a CDSL charge of INR 5.50. and how to avoid DP charges in Grow.
Now the question is whether one can avoid paying the DP charges on the platform. Well, the answer is no! The DP fees are levied by the broker per scrip every day. Therefore, you only need to pay the DP fees once, regardless of how many times you sell shares of specific scrip in a single day. Now you know how to avoid DP charges in Grow.
Also Read: How to Use Groww App?
Pros and Cons of Groww
This article will be incomplete if we don’t present the pros and cons of Groww. This platform has some incredible perks but there are some drawbacks that you should be aware of as well.
- Simple price model.
- Instant opening of a paperless account.
- Applying for an IPO online.
- The fixed brokerage of Rs 20 for each trade.
- No charge for opening an account.
- There are no Demat AMC fees.
- SME share trading is possible.
- Using the Direct Mutual Funds platform, you can increase your returns by 1.5%.
- Limited investment options without the ability to deal in the currency or commodity segments.
- Not a single Call and Trade service.
- Don’t offer stock recommendations, research summaries, or advice.
- Don’t offer to buy shares of SMEs.
- Offer no NRI trading.
- There are no SME IPOs available.
- No support for branches.
- No facility for margin trading.
Groww owns the exclusive trading platform known as the Groww app. It is a secure program that enables users to invest in mutual funds and stocks. Its user interface is straightforward, elegant, and clean. It is a dynamic app that has gradually incorporated several cutting-edge features and goods. The platform strives to be an all-in-one online investment platform that enables investors to invest across many asset classes, such as Equities, Mutual Funds, Derivatives, commodities, US Stocks, Fixed Deposits, etc. at their fingertips in light of the evolving digital era.
We hope you now have a thorough understanding of Groww charges. We also informed you about Groww charges calculator, Groww account opening charges and how to avoid DP charges in Grow. For comparison, we did Groww vs Zerodha charges to see how both platform stack up against each other.