This Article was fact checked and last updated for accuracy on November 3, 2025 by Mani Karthik
My mutual fund journey in India started with a mistake.
Moved back in 2017. Walked into an ICICI Bank branch. Told them I wanted to invest in mutual funds.
The relationship manager smiled. Handed me forms. Regular plans with 1% commission built in.
I didn’t know the difference between regular and direct plans then.
Cost me approximately ₹47,000 in extra fees over three years.
That’s when I discovered Groww and Kuvera.
Both promised direct plans. Zero commission. Better returns.
I tested both for two years. Used real money. Not small amounts either.
Here’s what I learned.
The Core Difference Most People Miss
Groww started as a discount broker. Then added mutual funds.
Kuvera started as a mutual fund advisor. Pure focus from day one.
This matters more than you think.
| Aspect | Groww | Kuvera |
|---|---|---|
| Primary Business | Stocks + Mutual Funds | Only Mutual Funds |
| Founded | 2016 | 2016 |
| Platform Focus | All in one investing | Pure MF advisory |
| Target User | Everyone | Serious investors |
Groww wants to be your everything app. Stocks. Mutual funds. Gold. US stocks now too.
Kuvera wants to be the best at one thing. Mutual funds done right.
Neither approach is wrong. Depends what you need.
When I was setting up my investment strategy after returning to India, I needed clarity. Not complexity.
Kuvera gave me that initially.
My First Investment on Each Platform
Opened Groww first. The interface felt familiar.
Reminded me of Robinhood. Clean. Simple. Millennial friendly.
Searched for a fund. HDFC Flexi Cap. Clicked invest. Done.
Easy. Almost too easy.
Opened Kuvera next. Different experience.
They asked about my goals. Risk appetite. Time horizon.
Felt like talking to an advisor. Not just an app.
Suggested funds based on my answers. I invested in Parag Parikh Flexi Cap.
Both investments did well. But the journey felt different.
What this really means is: Groww lets you do what you want. Kuvera guides you to do what’s right.
The NRI Access Problem
Here’s where it gets interesting for NRIs.
Groww technically supports NRI accounts. Reality? Mixed experiences.
My cousin in Dubai tried opening a Groww account in 2023. Application stuck for weeks. Support was unhelpful.
He gave up. Opened Kuvera instead. Account approved in 5 days.
| NRI Feature | Groww | Kuvera |
|---|---|---|
| NRI Account Support | Yes (limited) | Yes (full support) |
| Repatriation Options | Available | NRE/NRO both |
| KYC Process | Complex for NRIs | Streamlined |
| Documentation | Standard + delays | Clear process |
| Support Quality | Generic | NRI focused |
Kuvera built their NRI process properly. Groww added it as an afterthought.
If you’re still working in the US and want to invest in Indian mutual funds as an NRI, Kuvera makes it less painful.
My wife’s brother in California uses Kuvera. Zero issues. Smooth repatriation when needed.
Similar to how some banks are better for NRI services than others. Purpose built wins.
📌 Fact File: NRI Mutual Fund Investing
- NRIs can invest in Indian MFs through NRE/NRO accounts
- Returns are repatriable based on account type
- Direct plans save 0.5% to 1% annually vs regular plans
- Long term gains taxed at 12.5% above ₹1.25L (as of 2025)
Feature Comparison That Actually Matters
| Feature | Groww | Kuvera |
|---|---|---|
| Fund Selection | 2000+ funds | 2000+ funds |
| Direct Plans | Yes | Yes |
| Commission | Zero | Zero |
| Goal Planning | Basic | Advanced |
| Portfolio Analysis | Good | Excellent |
| Tax Reports | Available | Detailed |
| Family Accounts | No | Yes (unique) |
| Advisory | None | Free included |
Numbers verified November 2025.
The goal planning difference is massive.
Groww lets you create goals. But it’s cosmetic. Just labels on your investments.
Kuvera’s goal planning actually works.
I created a goal called “Kids College Fund” in 2019. Target ₹50 lakhs by 2030.
Kuvera suggested fund allocation. Debt equity split. SIP amount needed.
Adjusted recommendations when markets crashed in 2020. Again when they rallied in 2021.
My Groww goals? Just folders. No intelligence. No adjustments.
Think of it like comparing a calculator to a financial advisor.
Both help with numbers. One guides you further.
When managing SIP investments, guidance matters. Especially if you’re new to Indian markets.
The Hidden Cost Nobody Talks About
Both platforms advertise zero commission. True.
Both offer direct plans. Also true.
But there’s a hidden cost. Your time.
Groww is simple. Maybe too simple.
You pick funds yourself. No guidance. Hope you chose right.
Good if you know what you’re doing. Dangerous if you don’t.
I watched my neighbor invest ₹5 lakhs in a sectoral fund through Groww. All in one pharma fund.
Sector tanked. Lost 18% in six months.
A balanced portfolio through Kuvera would have protected him.
Kuvera’s free advisory includes:
- Fund recommendations based on goals
- Portfolio rebalancing alerts
- Tax loss harvesting suggestions
- Regular portfolio reviews
Value? Hard to quantify. But significant.
Traditional advisors charge 0.5% to 1% for this. Kuvera gives it free.
On ₹10 lakh invested, that’s ₹5,000 to ₹10,000 saved annually.
💡Tip: If you’re managing more than ₹5 lakhs in mutual funds, the free advisory on Kuvera pays for itself through better decisions alone.
Interface and User Experience
Groww wins on visual appeal.
Open the app. Colors. Graphics. Feels modern.
My US born son uses Groww. Reminds him of Cash App. Comfortable.
Kuvera looks more serious. Professional.
Lots of data. Charts. Numbers. Less pretty.
My dad would have loved Kuvera. Data guy. Numbers person.
Which is better? Depends on your personality.
I use both. Groww when I want quick access. Kuvera when I want to analyze deeply.
“Groww feels like Instagram. Kuvera feels like Excel. Both have their place.” – What I told my wife when explaining why I have both apps.
When you’re used to Vanguard or Fidelity interfaces, Kuvera feels more familiar. Detailed. Data rich.
Groww feels more like a fintech app. Modern but sometimes too simplified.
The Family Account Feature
This is where Kuvera shines uniquely.
They let you manage multiple family members’ portfolios in one login.
My account. Wife’s account. Mom’s account. All in one place.
Can’t do this on Groww. Need separate logins for each person.
Sounds small. But it’s huge for families.
When I help my mom with her investments, I switch accounts in Kuvera. See her portfolio. Make changes. Switch back.
On Groww? Logout. Login to her account. Make changes. Logout. Login back.
Annoying multiplied by every time I help her.
This feature alone made Kuvera our family’s primary platform.
Similar to how managing parents’ finances becomes easier with the right tools.
📊 Real Data: My Family’s Usage Pattern
| Account Type | Platform Used | Why |
|---|---|---|
| My primary MF portfolio | Kuvera | Advisory + family view |
| Wife’s equity focused portfolio | Groww | She prefers the interface |
| Mom’s retirement portfolio | Kuvera | I manage, need oversight |
| Kids’ education fund | Kuvera | Long term goal tracking |
We’re a multi platform family. No shame in that.
Customer Support Reality Check
Kuvera support is responsive. Email. Chat. Phone during market hours.
Raised a redemption query once. Response in 2 hours. Issue resolved same day.
Groww support is slower. Ticket based mostly. Generic responses.
My neighbor raised a switch request issue on Groww. Took 4 days to get a real response.
Not terrible. But not great either.
Quick Recap:
✅ Need urgent help? Kuvera responds faster
✅ Simple queries? Groww email support works fine
✅ NRI specific issues? Kuvera understands better
✅ Complex portfolio questions? Kuvera advisory helps
The difference matters when money is involved. Speed of support equals peace of mind.
Tax Reporting for Returning NRIs
This deserves special attention.
When you move back to India, tax reporting becomes complicated.
Need to report foreign income. File ITR. Show capital gains properly.
Kuvera generates detailed tax reports. Capital gains. Dividend summary. Everything needed for ITR filing.
Groww provides basic reports. Good enough for simple situations.
I use both platforms. But Kuvera’s reports go straight to my CA. Groww’s reports need manual cleanup.
When filing taxes after returning to India, clean data saves CA fees. And headaches.
My CA charges ₹5,000 extra if I hand him messy data. Kuvera saves me that annually.
The Stock Investing Addition
Groww offers stocks trading now. Integrated seamlessly.
Mutual funds. Stocks. US stocks. Gold. All in one app.
Convenient? Absolutely.
Kuvera? Only mutual funds. By choice.
They believe in doing one thing excellently. Not many things adequately.
I appreciate both philosophies.
For pure mutual fund investing, Kuvera’s focus shows. Better features. Better advisory.
But sometimes I want to buy a stock quickly. Groww is already open. Why switch apps?
This is why I have both. Plus Zerodha for serious trading. Each serves a purpose.
Which Platform Should You Choose?
Choose Groww if:
- You’re starting with investing. Need simplicity.
- You want stocks and mutual funds in one app.
- You value modern design and easy navigation.
- You’re a resident Indian with straightforward needs.
- You don’t need advisory or guidance.
Choose Kuvera if:
- You’re serious about mutual fund investing.
- You want free professional advisory.
- You’re managing family portfolios.
- You’re an NRI needing proper support.
- You value detailed analytics and tax reports.
Choose both if:
- You’re optimizing across platforms (guilty).
- You want backup options for large portfolios.
- Different family members prefer different interfaces.
- You appreciate having choices.
Zero cost to have both. No annual fees. No maintenance charges.
Only cost is your time managing two apps.
For me? Worth it. Your mileage may vary.
My Current Investment Setup
Here’s exactly what I use today.
Primary mutual fund portfolio on Kuvera. Approximately ₹18 lakhs across 8 funds. Long term goals. Retirement planning.
Experimental fund investments on Groww. Small amounts. Testing new funds. Maybe ₹2 lakhs total.
Stock trading on Zerodha. When I feel like gambling. Rarely.
Mom’s entire portfolio on Kuvera. I manage it. She trusts the advisory.
Wife uses Groww. Prefers the interface. Her choice. I don’t interfere.
Is this complex? Maybe.
Does it work? Absolutely.
Returns have been solid. Better than bank FDs. Better than my old regular plan mutual funds.
Here’s the catch: The platform matters less than staying invested. Timing markets kills returns. Platform choice doesn’t.
The Returning NRI Angle
When you move back to India like I did, investment platforms matter.
You’re used to Vanguard. Fidelity. Schwab. Simple. Efficient. Trustworthy.
Indian platforms felt sketchy initially. Too many options. Confusing interfaces.
Groww and Kuvera changed that perception.
Both are well regulated. SEBI registered. Partner with CAMS and Karvy.
Your money is safe. Not in the app. In the actual AMC. App is just the interface.
Similar to how your money in neo banks sits with partner banks. Not the app itself.
Start with one platform. Get comfortable. Add others as needed.
Don’t overthink it. Start investing. Adjust later.
Paralysis by analysis helps nobody.
Real Talk About Returns
Neither platform affects your returns directly.
Same fund on Groww or Kuvera gives same returns. It’s the same NAV. Same AMC.
What affects returns?
- Which funds you choose
- Asset allocation decisions
- When you invest and redeem
- Staying invested despite volatility
Kuvera’s advisory helps with these decisions. That indirectly improves returns.
Groww leaves you to decide. Good or bad based on your knowledge.
My portfolio comparison over 3 years:
- Kuvera portfolio (guided by their advisory): 14.2% CAGR
- Groww portfolio (my own choices): 11.7% CAGR
Difference? Could be fund selection. Could be luck. Hard to say definitively.
But the Kuvera portfolio had less stress. Less second guessing.
Worth considering.
Sources and References
All information verified as of November 2025:
- Groww platform features: groww.in
- Kuvera platform details: kuvera.in
- SEBI mutual fund regulations: sebi.gov.in
- AMFI investor guidelines: amfiindia.com
- Tax regulations for mutual funds: incometaxindia.gov.in
For my detailed individual reviews, check Groww App Review and Kuvera Review.
Fund performance and features subject to change. Verify current details before investing.
TLDR Version
Groww:
- Best for: Beginners, all in one investing, simple interface
- Strengths: Easy to use, stocks included, modern design
- Weaknesses: No real advisory, NRI support inconsistent, basic features
- Cost: Zero (no hidden fees)
- My verdict: Great starting point for resident Indians
Kuvera:
- Best for: Serious MF investors, NRIs, family portfolio management
- Strengths: Free advisory, excellent NRI support, detailed analytics, family accounts
- Weaknesses: Interface less flashy, MF only (no stocks)
- Cost: Zero (truly free advisory included)
- My verdict: Better for long term wealth building
For NRIs specifically: Kuvera wins. Purpose built NRI support. Proper repatriation handling. Better documentation process. Less frustration.
What I actually use: Both. Kuvera for 90% of my mutual fund investing. Groww for quick experimental investments. Total annual cost? Zero. Total annual benefit? Peace of mind.
Quick decision: Moving back to India soon? Start with Kuvera. Already in India and want simplicity? Try Groww first. Want best of both? Get both. Zero downside.
Reality check: Your fund choices matter 100x more than your platform choice. Pick one. Start investing. Stop overthinking.
Questions about mutual fund investing as an NRI or returning Indian? Ask in BackToIndia Groups. Real people. Real money. Real experiences.