NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund
SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671
₹10.73
0.30%
NAV as on 19 Nov 24, 12:00 AM
very high risk
sector financial services
equity
NAV as on 19 Nov 24, 12:00 AM
very high risk
sector financial services
equity
0.00%p.a.
Last 1Y
0.00%p.a.
Last 3Y
0.00%p.a.
Last 5Y
11.30%p.a.
Since Inception
About Groww Banking & Financial Services Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the Groww Banking & Financial Services Fund Growth scheme from Groww Asset Management Ltd.. It is a Sector - Financial Services mutual fund scheme that predominantly invests in Sector - Financial Services stocks of companies. Launched on Feb 2024, Groww Banking & Financial Services Fund Growth is Sector - Financial Services fund of its category with 45.87 Cr fund under management as on Nov 2024. The expense ratio of this fund is less than that of most other Fund category Sector - Financial Services funds.
- Groww Banking & Financial Services Fund Growth delivered 0.0% annual returns during the last year. It has delivered 11.3% average annual returns since the fund was launched.
- Groww Banking & Financial Services Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
- The scheme has predominantly invested in equity
Fund Objective
The primary investment objective of the scheme is to generate consistent long-term returns by investing in equity and equity-related instruments of banking and financial services companies and other related sectors/companies. The fund aims to capitalize on the growth opportunities and growth potential of various sub-sectors within the BFSI sector, including (but not limited to) banks, NBFCs, insurance companies, asset management companies, capital market participants, fintech players etc. (This includes companies benefiting from or contributing to the growth of the banking and financial services sector).
Top 10 Holdings
ICICI Bank Ltd
19.46%
HDFC Bank Ltd
16.87%
Axis Bank Ltd
7.15%
State Bank of India
6.49%
Bajaj Finance Ltd
3.96%
Multi Commodity Exchange of India Ltd
3.50%
Angel One Ltd Ordinary Shares
3.03%
Power Finance Corp Ltd
2.84%
Max Financial Services Ltd
2.79%
ICICI Prudential Life Insurance Co Ltd
2.78%
Fund Managers
- Anupam Tiwari (Feb 2024 - Present)
Key Information
View Scheme Document
Groww Banking & Financial Services Fund Growth SIP Calculator
If invested
per month
For a period of
Investment of ₹0 could have been
₹0(+0.0%)
₹0 (+0.0%)
This Fund
₹0 (+0.0%)
Fixed Deposit
NRI Mutual Fund Tax on Groww Banking & Financial Services Fund Growth
Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.
| Fund Type | Short-term Capital Gains (STCG) Tax | Long-term Capital Gains (LTCG) Tax |
|---|---|---|
| Equity mutual funds | 15% | 10% (above Rs. 1 lakh LTCG) without indexation* |
| Debt & other types of funds | At tax slab rate | 20% with indexation benefits |
How can NRIs invest in Groww Banking & Financial Services Fund Growth?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
- Passport – front and back
- Passport size photograph
- signature
If all details are correct, your KYC will be approved within 7 to 8 business days.
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in Groww Banking & Financial Services Fund Growth
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the latest 3 months
- Nominee details
Similar Funds
Funds
3Y Return
ICICI Prudential Banking and Financial Services Fund Growth
very high risk | equity
11.5%
SBI Banking & Financial Services Growth
very high risk | equity
13.8%
Nippon India Banking & Financial Services Fund Growth
very high risk | equity
15.5%
Frequently Asked Questions
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