How-to Groww direct plan MF platform

How to open a Groww mutual fund account

From WebNotes, a public knowledge base. Last updated 19 May 2026. Reading time ~6 min.

Procedure

Download Groww app or open webGroww app on Android (Google Play) or iOS (App Store). Web at groww.in.
Sign up with email or mobileEnter email/mobile and verify OTP. Set a password. Create a profile with name and date of birth matching PAN.
Complete KYCIf KYC is already done at any KRA (CVL, CAMSKRA, KFinKRA, NDML, BSEKRA), Groww auto-verifies. If not, complete via Aadhaar OTP eKYC (Rs 50k/AMC/FY limit) or upload documents for video KYC.
Add PAN and personal detailsEnter PAN; Groww validates with the Income Tax database. Fill nominee details, occupation, income range.
Link bank accountEnter bank account number and IFSC. Verify with a Penny Drop (Re 1 sent to the account). The bank account must be in your name.
Set up UPI Auto-Pay or NACH mandateFor SIPs, register a mandate. UPI Auto-Pay is fastest (in-app OTP). NACH eMandate available for non-UPI bank accounts.
Place first investmentBrowse direct-plan schemes in the Mutual Funds tab. Select a scheme, enter amount, choose lump-sum or SIP. Confirm and pay.
Track holdings and statementsGroww shows current value, XIRR, and gain/loss in-app. AMC issues Statement of Account directly via the registered email; Groww does not hold units in demat.

Groww is one of India’s largest direct-plan mutual fund platforms, with a streamlined mobile-first interface. Like Kuvera, ET Money, and INDmoney, Groww is an AMFI-Registered Mutual Fund Distributor (MFD) acting as a feeder to AMCs; units are held in SoA (Statement of Account) form, not in demat.

Conflict-of-interest disclosure. This guide is published by WebNotes Editorial Team for informational purposes. WebNotes has no commercial relationship with Groww. No affiliate commission is earned from account opening or transactions.

Step-by-step procedure

See the procedure infobox above.

Groww platform mechanics

Aspect	Groww
Plan type	Direct plans only (no commission)
Unit holding	SoA (folio at AMC, via RTA)
Platform fee	None
Brokerage on MF	None
Equity broking	Available separately (Groww broker)

Groww earns revenue from broking, not from MFs (it’s a SEBI-registered Mutual Fund Distributor for direct plans, which don’t pay it commission). Revenue model depends on related products like Groww broker, AMC partnerships.

SoA vs Demat trade-off

Groww’s SoA folios:

Pros: No demat AMC fee (unlike Coin’s Rs 300/year). Simpler folio numbering.
Cons: Cannot pledge for margin trading. Statement of Account must be reconciled separately from any demat holdings.

Multi-AMC coverage

All SEBI-registered AMCs that distribute via the direct-plan channel are listed on Groww. Coverage matches Coin, Kuvera, and similar platforms.

KYC handling

If you have a Validated KYC at any KRA, Groww uses it. If only Registered KYC, you’ll be capped at Rs 50k per AMC per FY (this is a regulatory limit, not Groww-specific).

For first-time investors, Groww provides in-app video KYC via partner KRA.

External references

References

SEBI (Mutual Funds) Regulations, 1996.
SEBI Master Circular for Mutual Funds.
AMFI Best Practice Guidelines on direct plans and platform distribution.
Groww product documentation.

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed: 19 May 2026
Conflicts of interest: WebNotes is independent. No relationship with any broker, registrar or bank named in this article.

Time required	15-20 minutes if KYC already done
Cost	Free (no platform fee)
Plan type	Direct plans
MF units	Held in SoA (Statement of Account, folio) at AMC/RTA