Groww is one of the fastest growing online investment platforms for trading and investing in India. Incorporated as a direct mutual fund platform, now the Groww app allows investors to trade and invest in stocks and mutual funds in India. It has become a household name among Indian investors, but can NRIs use the Groww app for investment in India?
Can NRIs use Groww App for Investment in India?
While it has carved out a place in India among resident investors, currently Groww doesn’t support NRI investments in India. It doesn’t offer trading and investment services to NRIs, which means NRI can’t open an account in Groww.
Which Platform can NRIs use to Invest in India
NRIs can invest in different types of asset classes including shares or convertible debentures of Indian companies, exchange traded funds (ETFs) and trade in future & options segment. As per the new RBI circular, NRIs can have access to the Exchange Traded Currency Derivatives (ETCD) market in India.
There are platforms that allow NRIs to invest in India online. For example, SBNRI and ProStocks are two of the most popular platforms for NRI investment in India.
SBNRI for NRI Investment in India
SBNRI is an NRI-only investment platform that allows Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) to invest in a variety of asset classes in India. NRIs can visit sbnri.com or download SBNRI App from the Google Play Store or App Store to explore the following investment options:
- Commercial Real Estate
- NRI Mutual Funds
- NRO Fixed Deposits
- Micro VC Funds
- Portfolio Management Scheme
In addition to the investment options, you can open an NRE or NRO account through SBNRI. What’s more, NRIs can connect with NRI Tax Experts to file income tax in India and ask any questions related to tax rules for NRIs.
ProStocks for NRI Investment in India
Non-Resident Indians can purchase stocks and trade in equity and F&O of Indian companies from anywhere in the world through ProStocks.
Why ProStocks
- ProStocks is a SEBI-registered stock broker and depository participant.
- It allows NRIs to trade on equities, F&Os of Indian companies on the NSE and BSE.
- Brokerage charged by it for NRI trading is very inexpensive, Rs. 100 per executed order (lowest NRI trading fees) for all segments or sizes of the order.
- Trading channels include mobile trading app, website, and installable trading terminal.
- No minimum balance required.
- Zero AMC for NRI Demat and trading account.
Before investing in the Indian market, NRIs must consult market experts to make informed decisions. You can get detailed mutual fund advisory from experts at SBNRI. You can download SBNRI App from the Google Play Store or App Store to ask any questions related to mutual fund investment, NRI account opening online and tax filing in India. To ask any questions related to Mutual Funds, click on the button below. Also visit our blog and YouTube channel for more details.
FAQs
Yes. NRI customers can now do intraday trading through their NRO Non-PIS account.
As per the new RBI circular, NRIs can have access to the Exchange Traded Currency Derivatives (ETCD) market in India.
There are a host of investment options for NRIs in India, including mutual funds, shares, convertible debentures of an Indian company, ETF, F&O, commercial real estate, fixed deposits, etc.
