Just like investing, it is very easy to withdraw money from the Groww app. But some people show curiosity in knowing about the Groww withdrawal charges in India? If you are one of them, we have got you covered.
Let’s discuss this subject now! After reading this, you will get a detailed knowledge about it.
Groww App Withdrawal Charges in India
Groww is a discount broker that provides relaxation in opening fees, AMC and delivery brokerage and when it comes to withdrawal of fund, it does not charge any fees on that either.
Exit Load on Mutual Funds
No exit load on liquid funds
May or may not levied on debt funds
Usually 1% if redeemed within 12 months (depends on AMC)
Exit Load on SIP
Depends on SIP Installment and Redemption Amount
However, users are subjected to the payment of some additional Groww charges in some cases like exit load in the case of mutual funds. Exit load is charged by mutual fund companies for exiting the schemes before a certain time (usually one year).
And the amount of exit load levied depends on the type of investment an investor is a part of. Apart from this, there are other types of charges that a mutual fund investor is liable to pay.
So, it is important for you to check such charges while exiting any investment scheme earlier.
Speaking of the Groww withdrawal limit, you can take out any amount of money you want. And usually, the amount will be credited in your bank account within 24 hours.
But if your withdrawal money is over Rs. 25,000, the withdrawal time will adjust as per the bank working hours.
Groww Withdrawal Time
Credited within 24 hours if amount < Rs. 25000
Credited as per bank working hours if amount >Rs. 25000
In a nutshell, we can say that there are no Groww withdrawal charges for taking out money from Groww balance. However, at what time this withdrawn money comes to your personal bank account depends on the medium of transfer and the investment instrument you left. But Groww app doesn’t charge anything on withdrawal.
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