If you wish to invest in mutual funds and manage your finances in India, there are a number of platforms that can offer you the same.
From ranging commissions management facilities to different investment schemes – each platform has something unique about it.
However, so many different options can sometimes lead to confusion, so we bring you the comparison between two of the most popular platforms in India – INDMoney and Groww.
What is INDMoney?
INDMoney is an investment tracker and capital organizer that helps people manage their finances from one place.
You can track your finances and invest in new products at zero commission with INDMoney, and manage taxes, loans, money, investments, expenses, and everything else from a single app itself.
Launched in 2019, it aims to automate all financial organizations for individuals and their family members. You can add your family members and track their investments from your dashboard as well.
It is available on both desktop (Web) and mobile (app) and is a SEBI-registered investment advisory.
Since INDMoney works with direct mutual funds only, there’s no commission you have to pay while investing in the chosen mutual funds on INDMoney. It also allows you to invest in U.S. stocks and this is where it directly competes with Groww.
What is Groww?
Groww is an investment platform that enables investors to invest in stocks and mutual funds seamlessly.
Mutual fund investors do not have to pay for any transaction or redemption charges as it is absolutely free for mutual fund investing. From U.S. stocks, FDs to mutual funds and India stocks – you can invest in all these products through a single platform via Groww.
Founded in 2016, it is available on both Playstore and App store in desktop, mobile and tablet versions.
It comes with extremely high-level encryption standards and focuses on becoming an all-in-one investment application.
Not only does Groww enables investors to invest in Indian stocks, but it also provides them with all the necessary details about each company in-depth.
All in all, Groww is an end-to-end investing and trading app meant for all types of traders – swing, intraday, long-term, short-term, beginner, intermediate or expert.
Products Offered by INDMoney
With INDMoney, you can directly invest in all the U.S. stocks without paying any commission fee.
The account opening is also free, and it allows you to open a two-in-one super account without any hidden charges. The investing is completely zero commission-based, enabling traders to lower their investment costs to maximize profits.
You don’t have to pay any forward remittance fee with INDmoney, unlike other platforms.
Financial Planning tools
INDMoney comes with an end-to-end financial planning system that helps investors plan their goals and manage their future net worth in a way that the coming years for them are financially secure.
It comes with a retirement planner and different calculators that allow you to set and plan your financial goals accordingly.
INDMoney offers a lot of different kinds of mutual funds to invest in.
From equity funds, hybrid funds to debt funds – you can invest in whatever fits your financial goals the best, with INDMoney.
INDMoney allows the investor to track all investments in one click without having to worry about their investments dipping.
They can also invest with INDMoney’s zero-commission policy and invest in bonds, FDs, MFs, stocks, and a lot more.
INDMoney provides service around loans and on-demand credit lines to enable users to seamlessly fund their personal loans against property, commercial property,, and home loans.
INDMoney is considered a super banker for families due to its Family Super Banking App. It does not charge any fund transfer fee for any U.S. stocks account and offers fixed deposits at competitive rates of around 7.3%. You can add your family m
INDMoney provides its investors with a list of all Indian stocks that they can analyze before making an investment and track stocks in their portfolio.
It comes with a dashboard that elaborates around the 52-week high and low prices, top gainers at the money, losers in the market, hot stocks, active stocks… and a lot more to help investors choose the stocks that fit their trading objectives the best.
With INDMoney, you can invest in all the upcoming IPOs as its dashboard is constantly updated with the ones already listed and the ones that are in the line of getting listed.
INDMoney comes with different types of fixed deposit options with competitive rates. One can invest as little as Rs 5,000 or as much as whatever their pocket allows at interest rates ranging from 3% to over 7.5%.
INDMoney gives its investors a complete outlook on the suggested bonds, corporate bonds, bank-issued bonds, and public sector bonds.
This is done so that investors can choose bonds that suit their trading goals in the best possible manner.
Products offered by Groww
With Groww, you can invest in over 5000 direct mutual funds at no commission. Investments can also be automated through Groww so that you enjoy a robust SIP without doing much.
Mutual funds on Groww are high return tax savings and come from the top companies and sectors to ensure that you get more than what you put in.
Groww also offers investors and traders to buy and sell shares of the top Indian companies on the stock exchange.
This facility comes with several delivery and order types, making the trading experience even better. Investors can put their money into ETFs, stocks, indices, and more with Groww.
Futures and Options
Futures and Options are another product offered by Groww.
It comes with a simplified option chain that lets you trade opens in a single click. All trades are supported with charts that help you identify market movements. Not only that, Groww provides its investors with the top traded options, stock F&O, and index – all in one place.
With Groww, you can invest in all upcoming IPOs.
It comes with an intuitive IPO dashboard that keeps a record of all the upcoming IPOs and the ones recently listed, with their issue size, bid date, and price range for you to make better investment decisions.
With Groww, you can start investing in U.S. stocks by opening an account for free and investing without any brokerage or commission.
Stocks like Amazon, Tesla, Microsoft, Facebook, and many more are available on the platform for investors to gain from the big global names.
Groww does not even charge any account maintenance charges, and all buy and sell orders are executed for free.
Fixed deposits on Groww come with high-interest rates, complete security, multiple banks to choose from, and absolutely no hassle at all.
All you have to do is activate your account that will start running in a few minutes, invest in your FD and track it with Groww’s dashboard. You can also withdraw money whenever you wish to, even before the maturity period.
INDMoney – U.S. Stocks
You can trade and invest in U.S. stocks with INDMoney’s zero-commission investment in U.S. stocks from India.
It offers a two-in-one account for free which you can use to trade and invest seamlessly at no additional cost.
INDMoney offers one of the best exchange rates in the market, giving you much more dollars for each rupee when compared to its competitors.
Not only that, there is no set-up or monthly fee associated with the international trading account either.
All orders are processed instantly without the need for any paperwork, and remittance is the fastest on the app with world-class service and support. It offers thousands of U.S. stocks in which you can start investing by putting in as little as Rs. 100 and get a personalized advisory based upon your investment plans, goals and fund capability.
Tech, ETF, Energy, FAANG, and so many more categories are available for you to choose from to start investing in world-class U.S. companies.
From Microsoft, Facebook, and Nvidia to Vanguard, Taiwan Semiconductor, Netflix and more – You get everything under one roof with INDMoney.
All stocks come listed in a detailed dashboard that talks about the stocks’ price, volume, market cap, price change in real-time, and its ticker that allows investors to compare several stocks together to make the final call.
All stocks are categorized as per the industry they belong to, making it easier for investors to create industry-specific portfolios.
INDmoney has partnered with SBM Bank to help you transfer funds to your U.S. investment account for free. You get to open a free savings account called a 2-in-1 INDmoney super saver account powered by SBM bank.
This 2-in-1 savings account allows you to transfer INR to the U.S. without any forward remittance or any other charges, while also providing the highest INR-to-USD conversation rate.
INDmoney also charges the lowest withdrawal fee for U.S. stock redemptions, at $5. If you withdraw more than $2,000 worth of U.S. stocks, it’s free.
Groww – U.S. Stocks
With Groww, you can open an account for free and start investing in U.S. stocks immediately without any brokerage fees. Groww does not even charge anything like the annual maintenance charges and the international trading account is activated for free.
You can trade and invest in the top global companies under the S&P 500 index to grab opportunities in the global market. It comes with an intuitive dashboard that sorts out all the uS stocks for you based on the market capitalization and lists all the names as a list.
From technology, healthcare, industrials to energy, consumer defense, financial services, and more – all U.S. stocks and ETFs can be traded on Groww seamlessly. It offers around 3000 stocks you can choose from, including high brand names like Apple, Microsoft, Alphabet and more.
Groww also allows you to buy fractional shares of U.S. stocks. However, to transfer funds, you need to use traditional internet banking Wire Transfer. And every bank charges a small fee for forex transfers.
Also, they often don’t give you the best INR to USD conversion rate.
You don’t have to pay any fees on your first withdrawal of U.S. stocks. Then it’s $9 per withdrawal.
INDMoney – User Interface
INDMoney comes with a clean user interface that lists all products seamlessly to make sure that the investors can navigate through the application easily.
Their services differ according to your investment size, making it better for investors to segregate what they get based on what they choose to invest.
All tools, calculators, and techniques that come with INDmoney are super simple to use and do not require any financial expertise as such.
Ordering, buying and selling are easy with one click on the app.
Groww – User Interface
Groww’s user interface is absolutely crisp, to the point, and pleasing to the eye.
Everything is explained in detail under each product, making it simple for even beginner investors to make the right investment choices.
Everything on Groww is segregated based on which category they fall under, and so if you wish to invest in bonds offered by banks or a particular American stock.
You will get all the in-depth information on the application.
All investment products come with their own charts that show investors the historical price movements and help them analyze future price predictions, making the interface not only intuitive but decision-driven.
Trading any investment product either intra-day or through delivery is extremely simple on the app.
INDMoney – Stock Analysis
INDMoney’s stock analysis is an in-depth and structured exploration of all Indian and American stocks.
It comes with an intuitive dashboard that lists large-cap, mid-cap and small-cap companies, which can be sorted based on market capitalization, price, change, volume or name.
Additionally, the dashboard also includes order value sorting from either high to low or vice versa. It helps investors analyze which stocks are the top performers, the top gainers and even the top losers to take successful trade decisions.
Through the analysis board, you can also understand the hot stocks at the moment, the most active ones, and the ones that have been on a 52-week high and low. All stocks are segregated as per category to allow users easy navigation on the dashboard.
Price movement charts also suppose analysis across several time frames.
Groww – Stock Analysis
Groww comes with a robust stock analysis tool that helps traders understand the fluctuating prices of all stocks and in which direction they are headed. What makes Groww’s stock analysis even better is that it is supported by live technical charts.
All stocks, ETFs, futures, options and indices are easily tracked and analyzed through these live charts that depict historical price movements leading to future price predictions in real-time.
From candlestick charts to bar graphs, Heikin Ashi to other complicated ones, Groww offers all the charts needed by a beginner, intermediate or expert investor.
With Groww’s stock analysis dashboard, a user gets instant live market updates that help them identify market trends, signals, entry and exit levels.
Whether you are trading on a one-hour time from of a ten-year time frame, Groww’s sock analysis is suitable for both short and long-term investments.
Groww also allows you to choose all the indicators you want to add to your chart to analyze the price movement in one click. Select everything you want to be included and it will add the same for you in seconds.
INDMoney – Advantages
- It helps you save taxes throughout the year.
- Provides loans against investments.
- It comes with tools and calculators for better financial planning and management.
- Assists you in saving money on existing loans.
- Provides investors with personalized advisory.
- Provides investors with a. dedicated team of financial advisors, tax consultants, and research analysts.
- Customize investment proposals for the ones who need top-tier servicing.
- Offers advanced tax filings.
- Monthly audits and risk monitoring.
- Offers stock gifting options to family and friends
Groww – Advantages
- Easy to Use app and dashboard
- One app to invest in stocks, FDs, SGB, and Mutual Funds
- Doesn’t charge anything for Demat AMC.
- One of the cheapest brokers in India.
- Offers investments in digital gold – (currently suspended)
- Offers direct mutual funds.
- Allows investors to place online IPO applications.
- Provides margin up to 100% for equity delivery.
- Margin up to 20% for intraday equity.
INDMoney – Resources
INDMoney comes with a dedicated section that teaches individuals everything about investing and financing.
Their blog caters to all the important topics that an investor must be aware of. I
INDMoney comes with a recommendation and news section as well that talks about recommended products and ongoing financial news in the domestic and international market.
It is an extremely resourceful app that helps beginner investors become experts and expert investors to hone their existing skills.
Groww – Resources
Groww has a robust blog section that covers articles around stocks, mutual funds, and everything related to the financial world.
The blog section is regularly updated and makes sure that both old and new investors are provided with relevant information around stocks trading, investment, and much more.
INDMoney – Pricing
INDMoney’s Gold plan costs Rs. 399 per month and is suitable for people who wish to invest less than Rs 50 lakhs.
Its Gold+ plan costs Rs. 999 per month and is suitable for people who wish to invest less than Rs. 1.5 crores.
INDMoney’s Platinum plan costs Rs 2999 per month and is suitable for people who wish to invest less than Rs 3 crores.
Its Platinum+ plan costs Rs 5999 per month and is suitable for people who wish to invest less than Rs 5 crores.
For all investments over Rs 5 crores, INDMoney offers a custom plan that costs differently according got each investor’s need.
Groww – Pricing
Groww does not come with any charges for fees related to mutual fund investing. Account opening, annual maintenance, Demat account opening, and maintenance – everything is absolutely free on Groww without any hidden charges.
The only fee applicable on Groww is when you trade stocks. It charges a brokerage of Rs 20 or 0.05% of the order, whichever is lower in the case of equity delivery and intraday.
If you wish to invest, track and manage your investments from a single app, INDMoney is the suitable option.
However, suppose you only wish to invest in mutual funds, bonds, stocks, FDs, and similar financial products without having to pay continuous account maintenance and opening charges. In that case, Groww is the ideal app for you.