Groww Hikes Charges Starting 20th October 2024

[6ix9ine]

I was just going through my recent Groww digests and noticed something interesting.

Groww is pretty smart, they subtly included the information about the fee hike in their daily digest (20th Sept 2024). In my opinion, they should have made it more public, but they didn’t. I messaged them on Twitter to ask why, and they responded saying "Hi, it was sent in Groww Daily Digest to all the users". Clever move.

Before anyone gets into panic mode, your direct mutual funds are safe, there are no new charges for MFs.

However, for stocks, the situation is different:

• Before: The brokerage charges were 0.05% or ₹20 per executed order (whichever was lower).
• After: Now it’s 0.1% or ₹20 per executed order (whichever is lower), with a minimum of ₹2 per order.
  
  
• Before: The DP charges were 13.5 + 18% GST = ₹15.93/-
• After: Now it’s 18.25 + 18% GST = ₹21.535/-

So, now you’ll definitely pay at least ₹2 towards brokerage fees.

Which means that if you buy and sell a stock worth ₹10,000 only (with a turnover of ₹20,000), you’ll end up paying ₹20 in fees.

This change won’t affect big players much, it’s like a drop in the ocean for them. But for small traders, that extra ₹20 could impact their profits.

I’m not sure about other fee hikes, like for F&O, since I don’t trade in those. But I’ll share the link to the pricing chart for everyone’s reference.

Groww Brokerage Charges & Pricing: https://groww.in/pricing

PS: Before anyone asks, I use Groww for mutual funds only. For stocks, I use a different broker.

 

[Pradumya]

I use Groww for mutual funds only. For stocks, I use a different broker.

Same here.
I use Dhan for stocks. Referral link in my signature or DM me. It has zero AMC & zero brokerage for delivery trades.
(Yaha daal diya toh moderator saab ko bura lagega)

 

[coolguy1]

With the recent controversies and the immense amount of money spent on marketing, it's time to hike up the revenue before the company goes bust.

I would say price hike is always a good sign that they're working to become profitable, no company can manage to run on losses forever and if they do, you should run in the other direction because that means they can shut down anytime.

 

[6ix9ine]

Same here.
I use Dhan for stocks. Referral link in my signature or DM me. It has zero AMC & zero brokerage for delivery trades.
(Yaha daal diya toh moderator saab ko bura lagega)

Same here
Dhan is best

 

[Pradumya]

Even Angel One increased brokerage charges effective November 2024

 

[CyberPsych]

I would say price hike is always a good sign that they're working to become profitable

Fuel price says hi

 

[6ix9ine]

Even Angel One increased brokerage charges effective November 2024

Hope dhan doesn't get into FOMO xD

 

[Pradumya]

FYERS also increased brokerage charges effective immediately.

 

[Pradumya]

• Before: The DP charges were 13.5 + 18% GST = ₹15.93/-
• After: Now it’s 18.25 + 18% GST = ₹21.535/-

Even though CDSL reduced its debit charges to 3.5 still groww increased it
Wow
And FYERS reduced its DP charge from 12.5 to 3.5

 

[6ix9ine]

Even though CDSL reduced its debit charges to 3.5 still groww increased it
Wow
And FYERS reduced its DP charge from 12.5 to 3.5

It's GROWW for a reason and damn, ₹3.5 is pretty cheap. So, it's ₹3.5 + 18% GST? Or was it inclusive?

 

[Pradumya]

It's GROWW for a reason and damn, ₹3.5 is pretty cheap. So, it's ₹3.5 + 18% GST? Or was it inclusive?

3.5 + gst
Earlier for fyers it was 12.5 + gst = 14.75

Also consider the 0.3% brokerage on both buy & sell side.

 

[Pradumya]

Suppose you buy/sell 500 shares.
Now, let's assume you use to buy/sell it in 5 parts as per price trends.

Before SEBI's "True to Label", most discount brokers use to offer your equity transactions at zero brokerage, so no charges on selling anything, N number of times.

But now, most will be charging around Rs 20+GST per transaction. So, as per our example, we might need to pay Rs 100 for the same along with 5 times GST for 5 different transactions.

It's definitely applicable to all the transactions you do for buying and selling of shares, irrespective of IPO or normal share trading.


Please Note:

Angel & Groww - 0.1%+GST or Rs 20 + GST whichever is lower
is applicable from November 1

which essentially means that you will pay 0.1% + GST brokerage upto 20 thousand worth of transaction. (peanuts honestly for cash segment)

Beyond 20 thousand, it will be flat Rs 20+ GST
Your brokerage amount will charge as per that.

Zerodha & Dhan are still free brokerage for delivery trades.