NRI from all over the world (excluding U.S.A. & Canada) can invest in this fund

INVEST VIA NRE/NRO

Groww Banking & Financial Services Fund Growth for NRI [11.00]

Min Investment

500

Fund Size

44.74 Cr

Expense Ratio

2.3%

Exit Load

1%

SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671

11.00

0.34%

NAV as on 11 Nov 24, 12:00 AM

very high risk

sector financial services

equity

NAV as on 11 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 44.74 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

19.66%

HDFC Bank Ltd

17.27%

Axis Bank Ltd

7.79%

State Bank of India

6.39%

Bajaj Finance Ltd

4.54%

Multi Commodity Exchange of India Ltd

3.12%

ICICI Prudential Life Insurance Co Ltd

3.00%

Max Financial Services Ltd

2.65%

Angel One Ltd Ordinary Shares

2.61%

Five-Star Business Finance Ltd

2.49%

Fund Managers

  1. Anupam Tiwari (Feb 2024 - Present)

Key Information

View Scheme Document

Groww Banking & Financial Services Fund Growth SIP Calculator

If invested

5,000

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 TypeShort-term Capital Gains (STCG) TaxLong-term Capital Gains (LTCG) Tax
Equity mutual funds15%10% (above Rs. 1 lakh LTCG) without indexation*
Debt & other types of fundsAt tax slab rate20% 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

Frequently Asked Questions