Switch To Groww from Coin
I am planning to switch my MF from coin to groww. Is there any other option rather than withdrawing my fund from coin and investing it into groww.
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Ok this may be a noob question but if you withdraw all ur MF from Coin and reinvest in Grow wouldn't that get your profits taxed?
AFAIK unlike real estate you dont have a option of reinvest tax free in MF or stocks
Me too noob in this. My mf portfolio is of 80k ( 60k invested + 20k profit). For some units STCG will be applied and for some LTCG. The reason behind switching is coin MF are demat form. Not able to find out proper pros and cons of demat and folio form
You don’t need to withdraw all mfs, you can simply track external funds on grow, and move your future sips there.
I'm not 100% sure but there is an option in Groww to import your external MF so you can try that out before withdrawal.
Or I would recommend you to get in touch with the groww customer support to get help or clarifications.
Yes, Grow has the option to import the funds. But the MF in the coin are in demat folio. That is the issue