Finance brokers have earned a huge reputation for giving desired returns to their clients and customers. Two such all-around finance brokers that are in heated debate are ET Money vs Groww.
So, in this article, we will compare both of them in terms of their profiles, charges, features, and business perspectives.
Stay tuned!
(A) ET Money vs Groww: Profile Comparison
First of all, let’s compare their profiles-
| Particulars | ET Money | Groww |
| Industry | Fintech | Fintech & Stockbroker |
| Founders | Mukesh Kalra | Lalit Keshre, Harsh Jain, Ishan Bansal, Neeraj Singh |
| Founded in | 2015 | 2016 |
| Head office | Gurgaon (Haryana, India) | Bengaluru (Karnataka, India) |
| Number of branches | 700 cities | Zero branches |
| Investment Offers (Products) | Insurance, SIP, Mutual funds, Loans, Cards, Fixed Deposit (FD), National Pension Scheme (NPS) | Equity, F&O, Currency, Mutual Funds, Shares |
| Exchanges supported | Nil | NSE, BSE |
| Desktop and mobile trading platform | ET Money Mutual Fund & SIP App | Groww app |
| Official Website | ET Money | Groww. in |
Can you see a striking difference between the two?
Look at their products or investment offers. ET Money is mainly related to less risky investments where as Groww is entirely involved in stock market trading.
In the upcoming sections, you will notice some other crucial differences between these platforms.
Note: We have already compared the following stock brokers.
- Zerodha vs Upstox vs Grow: Which one is better
- PayTM Money vs Zerodha: Which is the better broker?
- INDMoney vs Zerodha: Which is better & what’s the difference?
- Dhan vs Zerodha: Which one is the better trading app?
- mStock vs Zerodha: Which is the best broking app for users in 2024?
- Angel One vs Groww: Which one is the better investment app?
You can go through the articles for detailed information.
(B) Charges Comparison
Charges are a crucial aspect of comparative analysis of Fintech and Brokerage platforms because they determine user expansion and retention. Look at the comparison of the following charges-
(B.1) ET Money
ET Money does not charge anything for any investments/redemptions through its app. However, if you are a subscriber of the NPS account, then you need to pay the following charges. Let’s discuss them one by one-
POP (ET Money)
Mode of Deduction: From contribution amount/paid up by user upfront.
| Charge Head | Charge | Frequency of Deduction |
| User Registration | Rs.400 | One time |
| Contribution Processing | 0.25% or Rs. 30 whichever is higher; capped at Rs. 25000 | On each transaction |
| Non-Financial Transaction Process | Nil | On each transaction |
CRA (KFin)
Mode of Deduction: From NPS Account (by canceling the units) on the last day of the calendar quarter-
| Charge Head | Charge | Frequency of Deduction |
| PRAN Generation | Rs.39.36 | One Time |
| Account Maintenance | Rs.57.63 | Per Annum |
| Financial Transaction Processing | Rs.3.36 | On each transaction |
Other Charges
Mode of deduction: Recovered through NAV deduction
| Intermediary | Charge Head | Charge | Frequency of Deduction |
| Fund Manager | Investment Management | 0.01% | Per annum |
| Custodian | Asset Servicing | 0.0032% | Per annum |
| NPS Trust | Trust Management | 0.005% | Per annum |
(B.2) Groww
You need to pay different charges for different features in Groww. Here are those-
Account Opening Charges
| Account Opening Charges | Groww |
| Trading Account Opening Charges (One Time) | Rs.00 |
| Trading Account Annual Maintenance Charges | Rs.00 |
| Demat Account Opening Charges (One Time) | Rs.00 |
| Demat Account Annual Maintenance Charges | Rs.00 |
| Commodity Account Opening Charges (One Time) | Rs.00 |
Brokerage Charges
| Brokerage Charges | Details (Per executed order) | Groww |
| Mutual Funds | – | INR 0.00 |
| Equity | Equity Delivery | 0.05% or Rs.20 |
| Equity Intraday | 0.05% or Rs.20 | |
| F&O Futures | Rs.20 | |
| F&O Options | Rs.20 (flat) | |
| Currency | Currency Futures | Not available |
| Currency Options | ||
| Commodity | Commodity Futures | Not available |
| Commodity Options | ||
| Call and Trade Charges | Executable Order | Rs.50 |
| Auto Square Off Charges | Executable Order | Rs.50 |
| Brokerage Calculator | Groww |
Transaction Charges
| Transaction Charges | Details (Per executed order) | Groww |
| Equity | Equity Delivery | NSE: Rs.345 per croreBSE: Rs.345 per crore |
| Equity Intraday | NSE: Rs.345 per croreBSE: Rs.345 per crore | |
| F&O Futures | NSE: 0.002% | |
| F&O Options | NSE: 0.053% | |
| Currency | Currency Futures | Not available |
| Currency Options | ||
| Commodity | Commodity Futures | Not available |
| Commodity Options |
You must have noticed that unlike profile comparison we couldn’t compare the charges of ET Money vs Groww side by side. Reason? They lacked common charges! Then why are we comparing them? Go through the next section and you’ll find out!
(C) Striking Difference between ET Money and Groww
Now, here comes the climax. Let’s revise certain differential aspects of ET Money vs Groww-
- Both of them lack common “Product Offerings” or “Investment Offerings” meaning the products offered by ET Money aren’t offered by Groww and vice versa.
- No common charges due to different product offerings.
- Different operating industries
The key takeaway is- ET Money is not a broker; it is just a fintech and wealth management platform. It has nothing to do directly with the stock market.
On the other hand, Groww wholly deals with the stock market. Hence called a “Stock Broker.”
So yes, they are entirely different platforms!
(D) Features Comparison of ET Money vs Groww
Now, let’s compare the differential and features of both platforms-
| Features | ET Money | Groww |
| User-Friendly Interface | Intuitive design for easy navigation | Easy to access and includes insightful articles and tutorials. |
| Investment Options | ET Money focuses on mutual funds, NPS, and advisory services. | Groww offers mutual funds, stocks, and gold, with recent stock trading additions. |
| Fees and Charges | Apart from NPS Subscription charges, ET Money does not charge anything for any investments/redemptions | Groww follows a “zero-commission” model on mutual fund investments. |
| Additional Features | ET Money Genius- a unique paid membership service to track spending patterns and suggest investments. | Groww provides educational resources like articles and videos. |
| Customer Support | Prompt | Available |
| Education Material (Informative Blogs) | Present | Present |
| Security | Prioritize security with encryption and regular updates | Ensure the safety of users’ financial information |
The features comparison of ET Money vs Groww will help you to make an informed decision based on individual investment preferences.
(E) Business Comparison
We need to compare the business aspects to determine which company is doing better in the market. So, here we go-
| Business Particulars | ET Money | Groww |
| Userbase | Over 7 million | Over 50 thousand |
| Valuation | $1.4 billion (Rs.11,000 crores) | $3 billion |
| Revenue Earned (FY23) | N/A | Rs.1,277 crore |
| Current profit/loss | N/A | Profit of Rs.448.7 crore |
From the table, we can see some key differences between ET Money and Groww in terms of their business.
Firstly, ET Money has a larger user base, with over 7 million users, compared to Groww’s over 50 thousand users. This suggests that ET Money is more popular among investors.
Secondly, there’s a difference in valuation. Groww is valued at $3 billion, which is higher than ET Money’s valuation of $1.4 billion. This indicates that Groww is perceived to have a higher worth in the market.
Regarding revenue, Groww earned Rs. 1,277 crore in the financial year 2023, while there is no revenue data available for ET Money in that year. Also, in terms of profit or loss, Groww made a profit of Rs. 448.7 crore in the financial year 2023, while there is no profit or loss data available for ET Money in the same year.
In simpler terms, Groww is valued higher, earns more revenue, and has made a profit in recent years compared to ET Money.
(F) Ending Note
It’ll be interesting to see if ET Money can catch up to Groww in the future. Groww’s strong market position with higher valuation, revenue, and profitability suggests it’s ahead for now. But things can change, and ET Money might have tricks up its sleeve. Let’s keep an eye out!
Being an fintech app only ET money does have good user base!
Used to think that these two apps does the same thing 🙄, but now it’s clear with these insights.