Groww Account Opening Process Review 2024

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Groww offers Free Demat Account at zero account opening charges and Rs. 0 Demat AMC. Groww app offers 100% paperless onboarding process to open Demat account online for Free. The Demat account is a single place to keep all shares and mutual fund investment electronically safe and secure. You can login to the demat account on the Groww mobile app and web platform. The broker charges the minimum brokerage fee of Max Rs. 20 per executed order on equity and F&O trading, however, offers free mutual fund investment. Check out the process on How to open a Groww Demat Account online, account opening charges, timing, account closure process, and more.

Groww Account Opening Charges

Groww Demat Account Opening Process

Groww platform allows clients to open a Demat account digitally in a completely paperless and hassle-free manner. Users are simply required to complete sign-in, fill online account opening form, submit essential documents, and complete IPV process. Here is the complete step by step process to open Groww Demat Account Online;

1. Download the Groww mobile app or head to the Groww website.
2. Enter e-mail ID, mobile number, and verify it with OTP.
3. Enter PAN Card number, click on the “Verify”.
4. Confirm your identity by click on the confirm option.
5. Enter DOB as per PAN, gender, and marital status.
6. Under the “Stocks” tab, click on the “Complete Setup” option.
7. Now, tap on the “Open stocks account” to unlock stock investment feature. Groww does not charge any fee on Demat and Trading Account opening.
8. Enter details like Date of birth, gender, occupation, annual income, mother’s and father’s name to complete the KYC process.
9. Enter your trading experience from the drop-down list and tap on the “Next” option. If you are a beginner in stock market investing, then click on the “No experience” to proceed.
10. Upload clearly visible signature on a plain white paper with a black pen. Once done, tap on the camera icon and upload your picture.
11. Now, the next step is aadhaar-based e-sign process. Enter your aadhaar card number and click on the E-sign AOF. You will receive an OTP on the registered mobile number, enter the security code and click on “Submit”.
12. Now, read the Demat account opening form instructions carefully and Click on “Sign Now” to proceed.
13. It will direct you to NSDL e-sign service portal. Enter aadhaar virtual ID and tap on the “Send OTP”. Enter the OTP received to complete e-sign process.
14. The page will display a “Signed successfully” message and “You can start investing now” screen. Tap on the “Let’s start” to proceed. Groww verification process may take upto 24 hours and then you will get a client master report (CMR) on your registered email address. The report contains unique client ID to access Groww Demat Account.

Note: If in case, your mobile number is not linked with your aadhaar card, then you cannot e-sign the account opening form (AOF) digitally. However, you can still open Groww account by courier the physical copy of AOF to the broker’s office address. The broker sends the form to your registered e-mail address.

Groww Account Opening Documents

To open Groww Demat Account, you need to submit a duly filled account opening form along with the following document checklist;

• Applicant’s photograph.
• A scanned copy of PAN card.
• A scanned copy of Aadhaar Card.
• Bank account proof i.e. cancelled cheque.
• A scanned copy of signature on a plain white paper.
• Income proof to trade in futures & options segment.

Groww Account Opening Time

Groww offers an instant paperless account opening procedure that takes a few minutes to open Groww Trading & Demat Account online. Once you have e-signed the AOF then all the submitted documents will go under verification process. The document verification takes upto 24 workings hours and then you can start investing in stocks on Groww app and web based platform. You can check the account opening status anytime online that displays a message like your documents are being processed and you can start investing in stocks in 24 hours.

However, in case of physically submitted AOF when your aadhaar card is not linked to your mobile number then the account opening process may take up to a few days. Customers can check the KYC status online under the “Help & Support” section under the “My Account” option, or raise a ticket to the Groww customer support platform, or chat with customer care team.

Groww Demat Account Closure

Groww Demat account can be closed offline. Before proceeding with the Groww trading and Demat account closure process, you must ensure to clear all dues, empty Demat account with no security or holdings, and no negative balance. Groww doesn’t support online Demat account closure.

Steps to close Groww Demat Account

1. Download Groww account closure form under the “Download Forms” option.
2. Finish all the details including client ID, reason for account closure, and sign the closure form.
3. Attach required documents i.e. a copy of ledger and unused delivery instruction slips.
4. Courier the duly filled and signed form to the Groww’s head office address. Once the broker receives the document then the Groww Demat Account will be closed within 10 days.

Note: There are no charges on Groww Trading & Demat account closure. Once the broker receives the closure form, then you will receive a closure confirmation email on your registered email address. If not received, then follow up by raising a ticket or chat with the Groww customer care team. Once Groww Demat account is closed or deleted then you can

Groww Demat Account Closure Form

Groww account closure forms are available at both the Groww official website and Groww app. Here is the process to download Groww account closure form;

1. Log in to the Groww app or website.
2. Under the “Profile”, click on the “Help & Support” section.
3. Now, in the magnifying search bar, type “I want to close my Groww Demat Account”.
4. Click on the “Demat Closure Form” and download it.