The Groww App for Mutual Fund Investing is now accessible on Android devices. You can download it from the Play Store. We recently released an Android app for Groww due to the overwhelming demand from our users. Users can easily transact in and manage mutual funds while on the go with the help of an app. Since we’re still in the early stages, your input would be greatly appreciated. Please write to us at [email protected] for any feedback.
Groww, a popular investment platform in India, offers a convenient and user-friendly experience for managing your investments in stocks, mutual funds and other financial products. However, for users who have relocated from India to Singapore the question arises: can you still use the Groww app?
The answer is no unfortunately Groww is currently not available for use in Singapore. This is due to regulatory restrictions and licensing requirements that limit the platform’s operations to within India.
Here’s a breakdown of the reasons why Groww is not accessible in Singapore:
- Regulatory Compliance: Groww is registered with the Securities and Exchange Board of India (SEBI) and operates under Indian regulations. These regulations do not permit the platform to offer its services to users outside of India.
- Licensing Requirements: To operate legally in Singapore, Groww would need to obtain the necessary licenses from the Monetary Authority of Singapore (MAS). As of now, Groww does not hold these licenses.
- Data Privacy Concerns: Financial data privacy regulations in Singapore are stringent, and Groww would need to ensure compliance with these regulations before offering its services to users in the country.
While it’s not possible to directly access Groww from Singapore, there are alternative investment options available to you:
- Local Singaporean Investment Platforms: Several reputable investment platforms operate within Singapore, offering similar services to Groww. These platforms are compliant with local regulations and offer a wide range of investment products.
- International Investment Platforms: Some international investment platforms may be accessible from Singapore, depending on their licensing and regulatory compliance. However, it’s crucial to thoroughly research and understand the risks involved before investing through these platforms.
Here are some additional points to consider:
- Transferring Existing Groww Investments: If you have existing investments in Groww, you may be able to transfer them to a local Singaporean investment platform. However, this process may involve fees and tax implications, so it’s essential to consult with a financial advisor for guidance.
- Tax Implications: As a non-resident Indian, you may be subject to different tax regulations in Singapore. It’s important to understand these regulations and how they apply to your investments before making any decisions.
What Can You Do With The App?
Keeping the app as simple as possible was one of our top priorities when developing it. Therefore, we only retained the features that are necessary to complete the task at hand, which is investing in mutual funds. These are a handful of the functions available on the app.
Open your account
You can start investing without any paperwork. It is an easy process to begin, even for those without KYC.
To open your account, the app would only need a few details from you. With just a few document clicks, you can get started.
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FAQ
Which country app is Groww?
Who is owner of Groww app?
Is Groww registered in India?
How do I install Groww app in USA?
What is groww app?
Groww aims to simplify complex financial products in India especially for first-time and young investors. The Groww app allows users to invest in fixed deposits, stocks, gold, mutual funds, and develop a savings portfolio.
What products does groww offer?
Groww has a wide range of products, including investments, trading, loans, and payments. Whether you want to invest in mutual funds, Indian stocks, ETFs, IPOs, Futures & Options (FnO), trade in stock market, pay bills, use UPI or take a loan, Groww is your one-stop solution. Groww offers: • Mutual funds & SIP • Stocks & Intraday
Does groww offer a fund in India?
The app offers every fund that is currently available in India. The startup has amassed over 15 million registered users, two-thirds of whom are first-time investors, Lalit Keshre, co-founder and chief executive of Groww, told TechCrunch in an interview.
Is groww a good investment platform?
In 2017, Groww started as a direct mutual fund distribution platform and within a year became one of the most popular mutual fund investment platforms in the country. Following user demand, Groww added stocks in the early half of 2020 and the same year launched digital gold, ETFs, Intraday trading, IPOs in quick succession.