What happens to my mutual funds if Groww shuts down?

In the case of a Mutual Fund company shutting down, either the trustees of the fund have to approach SEBI for approval to close or SEBI by itself can direct a fund to shut. In such cases, all investors are returned their funds based on the last available net asset value, before winding up.

Is my money safe in Groww?

According to a number of online broker comparison sites, Groww has been certified as a safe to use app. This means that the money or any kind of investment done on this platform will not be a scam or get hacked easily.

What if my broker goes out of business?

If your stock market broker goes bust in India, practically speaking, nothing happens to your stocks and shares. The stockbroking industry is very well under regulations and compliances laid down by SEBI. Unfortunately, the concern is your trading account and not your shares and stocks.

Who is CEO of Groww app?

Harsh Jain – Co-Founder & COO – Groww, India | LinkedIn.

What happens to my investment if groww shuts down my account?

Even if a Mutual Funds broker like Groww shuts down your account will still be active with the corresponding mutual fund house. So you can directly reach out to your mutual fund house to inquire about your investment with them.

Is it safe to invest through groww?

In adverse situations, if the Groww app shuts down, then the user can directly manage their investment through the asset management company. All your investments are done directly with the respective mutual fund AMC. So, your money is 100\% safe. You can invest you through Groww platform without hesitation.

How do I withdraw money from groww?

Withdrawing money from Groww is very simple as when you open the app, you would see an option “Withdraw,” click on that and enter the amount that you wish to withdraw, and click ok. Once you finalize the amount, the amount will be automatically deducted from the app and credited to your account.

How to redeem stocks in groww app?

Redeem from any stock with the click of a button- If you wish to obtain your saved money in mutual funds, that can also be done through the Groww app in just a click. Once you select the amount, it will be instantly sent to the bank account combined with the AMC.