ET Money vs Groww: Which Is Better All Round Finance Broker?

ET Money vs Groww

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.

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-

ParticularsET MoneyGroww
IndustryFintechFintech & Stockbroker
FoundersMukesh KalraLalit Keshre,
Harsh Jain,
Ishan Bansal,
Neeraj Singh
Founded in20152016
Head officeGurgaon (Haryana, India)Bengaluru (Karnataka, India)
Number of branches700 citiesZero 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 supportedNilNSE, BSE
Desktop and mobile trading platformET Money Mutual Fund & SIP AppGroww app
Official WebsiteET MoneyGroww. in
ET Money vs Groww: Profile Comparison

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.

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 HeadChargeFrequency of Deduction
User RegistrationRs.400One time
Contribution Processing0.25% or Rs. 30 whichever is higher; capped at Rs. 25000On each transaction
Non-Financial Transaction ProcessNil On each transaction

CRA (KFin)

Mode of Deduction: From NPS Account (by canceling the units) on the last day of the calendar quarter-

Charge HeadChargeFrequency of Deduction
PRAN GenerationRs.39.36One Time
Account MaintenanceRs.57.63Per Annum
Financial Transaction ProcessingRs.3.36On each transaction

Other Charges

Mode of deduction: Recovered through NAV deduction

IntermediaryCharge HeadChargeFrequency of Deduction
Fund ManagerInvestment Management0.01%Per annum
CustodianAsset Servicing0.0032%Per annum
NPS TrustTrust Management0.005%Per annum

(B.2) Groww

You need to pay different charges for different features in Groww. Here are those-

Account Opening Charges
Account Opening ChargesGroww
Trading Account Opening Charges (One Time)Rs.00
Trading Account Annual Maintenance ChargesRs.00
Demat Account Opening Charges (One Time)Rs.00
Demat Account Annual Maintenance ChargesRs.00
Commodity Account Opening Charges (One Time)Rs.00
Account Opening Charges of Groww

Brokerage Charges
Brokerage ChargesDetails (Per executed order)Groww
Mutual FundsINR 0.00
EquityEquity Delivery0.05% or Rs.20
Equity Intraday0.05% or Rs.20
F&O FuturesRs.20
F&O OptionsRs.20 (flat)
Currency Currency FuturesNot available
Currency Options
Commodity
Commodity FuturesNot available
Commodity Options
Call and Trade ChargesExecutable OrderRs.50
Auto Square Off ChargesExecutable OrderRs.50
Brokerage CalculatorGroww
Brokerage Charges of Groww

Transaction Charges
Transaction ChargesDetails (Per executed order)Groww
EquityEquity DeliveryNSE: Rs.345 per croreBSE: Rs.345 per crore
Equity IntradayNSE: Rs.345 per croreBSE: Rs.345 per crore
F&O FuturesNSE: 0.002%
F&O OptionsNSE: 0.053%
Currency Currency FuturesNot available
Currency Options
Commodity
Commodity FuturesNot available
Commodity Options
Transaction Charges of Groww

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-

FeaturesET MoneyGroww
User-Friendly InterfaceIntuitive design for easy navigationEasy to access and includes insightful articles and tutorials. 
Investment OptionsET Money focuses on mutual funds, NPS, and advisory services. Groww offers mutual funds, stocks, and gold, with recent stock trading additions. 
Fees and ChargesApart from NPS Subscription charges, ET Money does not charge anything for any investments/redemptionsGroww follows a “zero-commission” model on mutual fund investments.
Additional FeaturesET Money Genius- a unique paid membership service to track spending patterns and suggest investments. Groww provides educational resources like articles and videos. 
Customer SupportPromptAvailable
Education Material (Informative Blogs)PresentPresent
SecurityPrioritize security with encryption and regular updatesEnsure the safety of users’ financial information
Features Comparison of ET Money vs Groww

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 ParticularsET Money Groww
Userbase Over 7 millionOver 50 thousand
Valuation $1.4 billion (Rs.11,000 crores)$3 billion
Revenue Earned (FY23)N/ARs.1,277 crore
Current profit/lossN/AProfit of Rs.448.7 crore
Business Comparison of ET Money vs Groww

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!

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Published By: Supti Nandi
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Rohit Chauhan
Rohit Chauhan
3 months ago

Being an fintech app only ET money does have good user base!

Kamakshi Rathi
Kamakshi Rathi
3 months ago

Used to think that these two apps does the same thing 🙄, but now it’s clear with these insights.