ETMONEY vs Groww for Mutual funds [Which App is Better?]

Do you want to invest in mutual funds but are confused which app is better – ETMONEY vs Groww? They both are popular and well known investment platforms in India that allow users to invest in mutual funds. We tested both of them and here is a brief comparison between the two.

Primary Difference between ETMoney and Groww

• Ease of use: Both ETMONEY and Groww have user-friendly interfaces that make it easy for beginners to start investing in mutual funds. However, Groww has a simpler and more streamlined interface, which can be a more appealing option for those who are completely new to investing.

• Types of funds: Both platforms offer a wide range of mutual funds, including equity, debt, and hybrid funds. However, Groww offers a slightly larger selection of funds than ETMONEY.

• Fees: Both platforms are completely free to use, and do not charge any fees or commissions on mutual fund investments. However, ETMONEY charges a small fee for its advisory services, which may be helpful for investors who want personalized guidance on their investment decisions. This feature is optional.

• Additional features: Both platforms offer additional features such as tax-saving mutual funds, SIP (Systematic Investment Plan) investments, and portfolio tracking tools. However, ETMONEY also offers a “SmartDeposit” feature that allows users to earn higher interest rates on their savings, which may be attractive to those looking to maximize their returns.

Overall, both ETMONEY and Groww are excellent options for investing in mutual funds in India. The choice between the two largely depends on individual preferences and priorities, such as ease of use, range of funds, and additional features offered. Below are the pros and cons of both the platforms

Pros and Cons of ETMONEY App

PROS:

• Simple to Use: Users may easily explore ETMONEY’s platform and invest in mutual funds thanks to the platform’s user-friendly interface.

• ETMONEY offers a large selection of mutual funds, including equity, debt, and hybrid funds, making it simple for investors to discover a fund that is fit for their needs.

• Advisory Services: ETMONEY provides investors with individualised advisory services that can aid in the making of wise financial choices.

• ETMONEY’s SmartDeposit function, which enables customers to earn greater interest rates on their savings, is a popular choice for people who want to maximise their earnings.

• ETMONEY’s quick and easy KYC process enables consumers to begin investing in mutual funds in just a few minutes.

CONS:

• ETMONEY’s advising services come with a nominal cost, which may not be appealing to individuals who prefer to make their own financial decisions.

• Fewer Research Tools: Compared to other investment platforms, ETMONEY has fewer research capabilities, which could be a drawback for investors who rely on research to guide their investment decisions.

• ETMONEY does not allow direct equity ownership, which could be a drawback for those who wish to buy stocks.

• Limited Customer Support: ETMONEY only offers phone and email customer service, which may not be enough for certain investors who want real-time assistance from live chat or chatbots.

• High Minimum Investment: Compared to other investment platforms, ETMONEY’s minimum investment amount for mutual funds is greater, which may not be acceptable for individuals who want to start with a smaller sum.

Pros and Cons of Groww App

PROS

• Simple and user-friendly interface of Groww makes it simple for beginners to invest in mutual funds.

• Zero Commission: Groww offers investors a cost-effective choice by not charging any commission on mutual fund investments.

• Variety of Funds: Groww provides a large selection of mutual funds, including equity, debt, and hybrid funds, making it simple for investors to discover a fund that is fit for their needs.

• Research Tools: Groww provides a range of research tools that can assist investors in making wise investment choices, such as thorough fund information, performance analysis, and portfolio tracking.

• Direct Stock Investment: Groww offers direct equity investments, which might be an excellent choice for those that favour stock investments.

CONS:

• Limited Advisory Services: Groww does not provide individualised advisory services, which could be a drawback for clients who require assistance in selecting investments.

• Minimal Customer Support: Groww only offers email and phone help, which may not be enough for certain investors who want immediate assistance from live chat or chatbots.

• Restricted Investment Options: Groww does not provide additional investment options like bonds or fixed deposits, which could be a drawback for those looking to diversify their portfolio.

• Groww lacks the SmartDeposit feature, which may be a drawback for investors who want to earn greater interest rates on their savings. Groww also does not have a high-interest savings account like ETMONEY’s SmartDeposit feature.

• Minimal Additional Features: Groww provides few more features in comparison to other investing platforms, which may not be appealing to investors looking for a broad selection of features and possibilities.

Frequently Asked Questions (FAQs)

Final Verdict

Overall, both the platforms are SEBI registered and excellent options for investing in mutual funds in India. If you are a complete beginner, I would recommend you to opt for Groww due to its easy to use interface and simplicity. You will also get more choices between various mutual funds. If you think you need a helping hand and some guidance, opt for ETMONEY and take the advisory service. It is worth a try.

Hope this information makes your choice between ETMONEY vs Groww easier. Do visit thinkmoneytrader for more knowledgeable financial bytes.