Groww Demat Account Online – Opening, Process & Charges

Gone are the days of dealing with piles of physical share certificates and endless paperwork. Thus, enter the era of Demat accounts. The demat full form is a dematerialised account. A demat account is used for a digital repository where your shares, bonds, and other securities are held electronically. Thus, as an investor, you can buy and sell your securities saved in an instant Demat account via a trusted online brokerage firm. Over time, many online brokerage firms have entered the Indian landscape and Groww is one of them. Founded in 2016, Groww may have attracted a large number of investors, especially millennials, who can be keen to enter the stock market and grow their wealth. So, let’s jump into how you can create a Groww demat account, shall we?

How Does the Groww Account Opening Work?

Groww’s open demat and trading account is a paperless account. Therefore, this means that you do not need to keep physical share certificates. Groww’s depository participant (DP) account holds your shares in electronic form. Thus, the procedure for opening a demat account Groww is simple and user-friendly. So, users need to download & login to Groww mobile app or visit the website to get started. Additionally, Groww provides a user-friendly interface, real-time market data, research tools, and expert recommendations to help users make informed investment decisions.

What are the Documents Required for the Groww Account Opening?

The documents have been made mandatory for investment by the governing body SEBI. Thus, the documents required for opening a Groww demat account can be listed as follows:

• PAN Card: Self-attested copy of the PAN card with the signature under Applicant signature.
• Aadhaar Card: Ensure a masked Aadhaar is submitted, i.e., black out the first 8 digits of the Aadhaar number.
• Passport-Size Photograph: Scanned copy of the signature. Thus, the signature must be with a black or blue ballpoint or ink pen.
• Address Proof: Self-attested copy of any one of the documents like driving license, Voter ID, Passport, or Aadhaar card. 
• Bank Proof: Self-attested copy of any one of documents like a personalised canceled cheque with the name printed on it, Bank statement or Bank passbook copy.

However, besides these required documents for demat account, Groww may request a picture of your signature on a white blank paper.

What is the Step-by-Step Guide for Groww Demat Account Opening?

One can open Groww account via online and offline methods. Thus, here we have listed out a step-by-step guide as to how you can open a Groww demat account by following these easy steps.

1. Groww Demat Account Opening via smallcase

Therefore, with just a few clicks, you can enjoy the convenience of a user-friendly interface, expert-curated investment portfolios, and real-time market insights, all at your fingertips by creating a Groww demat account with smallcase. Thus, you can follow these steps of how to open a demat account online via Groww demat account opening process & can easily complete account setup for live prices Groww,

1. Visit the smallcase website. Under the ‘More’ section, click on the “Open Account” button.

2. Next, enter your phone number to receive an OTP.

3. Enter the OTP

4. Next, select Groww from the list of available broker options.

5. Therefore, after entering the preferred broker, add your name and email ID.

6. Once the details have been entered, complete your application process.

7. Wait for a few seconds.

8. Tada! Your Groww demat account is opened.

2. Open Groww Demat Account Online

Groww is an online investment platform that allows you to open a Demat account and start trading stocks and mutual funds. Thus, to open a Groww Demat Account online, you can follow these simple steps:

1. Download the Groww app or visit the Groww website.
2. Create an account by entering your email address and mobile number.
3. Verify your mobile number by entering the OTP that is sent to you.
4. Enter your PAN number and confirm your identity.
5. Enter your bank details like the IFSC code and account number.
6. Thus, click on Complete Setup under the Stocks tab.
7. Click on the Open Stocks account.
8. Enter the details of your occupation, income, parents’ names, and click on Next to complete the KYC process.
9. Upload your photo, PAN card, and documents for KYC.
10. At last, E-sign the account opening form.

Congratulations! You have successfully opened a Groww Demat Account online. Therefore, you can now explore a wide range of investment options, including stocks, mutual funds, IPOs, and more, through the Groww platform.

3. Open Groww Demat Account Offline

So, if you are looking for a low-cost way to invest in stocks and mutual funds, Groww can be a good option. So for those who are still wondering, ‘How to open a demat account offline?’, we’ve got you covered.

1. For the demat account opening process choose a Depository Participant (DP).
2. You can submit the application form with the documents like a PAN card, Resident proof, ID proof, and passport-size photos.
3. Next, complete the KYC process and sign the account opening agreement.
4. Thereafter, once your documents are verified, your account can be opened.
5. The DP will provide you with a unique Client ID. Additionally, an instruction sheet that you can use for trade, purchase, etc. when you open the account.

What are the Groww Account Opening Charges and Fees?

Now, for the Groww demat account opening online/ offline, therefore, a customer may need to pay the following charges:

Groww account opening charges

Transaction	Charges
Trading Account Opening Charges (One Time)	₹0
Trading Annual Groww Maintenance Charges AMC (Yearly Fee)	₹0
Groww Demat Account Charges (One Time)	₹0
Demat Account Annual Groww Maintenance Charges AMC (Yearly Fee)	₹0

Can We Buy and Sell Stocks on Groww?

By acting as an intermediary, Groww can facilitate your purchase and sale orders. Thus, when you purchase shares on the platform, the platform may receive them from the exchange and transfer them to your DEMAT account. Your Groww Demat account is registered with CDSL, which is a depository.

So, once your account is set up, you can start buying and selling stocks. Thus, you can place orders for stocks listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Therefore, here are the steps on how to buy and sell stocks on Groww:

Buying Stocks on Groww

1. Open the Groww app and sign in to your account.
2. Click on the “Buy” button.
3. Enter the ticker symbol for the stock you want to buy.
4. Enter the number of shares you want to buy.
5. Select your order type. You can choose from a market order, limit order, or stop loss order.
6. At last, review your order and click on the ‘Buy’ button.

Selling Stocks on Groww

1. Open the Groww app and sign in to your account.
2. Click on the ‘Sell’ button.
3. Enter the ticker symbol for the stock you want to sell.
4. Enter the number of shares you want to sell.
5. Select your order type. You can choose from a market order, limit order, or stop loss order.
6. At last, review your order and click on the ‘Sell’ button.

However, what sets apart Groww from other online broker platforms can be its hassle-free stock-selling process for users. Therefore, on Groww, you could sell stocks using your Groww PIN/fingerprint which means the elimination of a cumbersome process that involves physically signing a POA and sending it to your broker every time you want to sell shares. Thus, now, you can transfer shares from your DEMAT account to an exchange using e-DIS, an electronic delivery instruction slip.

Steps to Close Groww Account

Now that we have understood how to create demat account online, let’s understand how to close groww demat account. You can close the Groww trading and Demat account anytime you wish. Closing a Groww Demat account involves a few steps. Keep in mind that the process may change over time, so it’s important to check the latest guidelines and requirements on the Groww website or contact their customer support for the most up-to-date information. 

1. Before closing your Demat account, groww demat account review thoroughly to ensure you have no pending investments, stocks, mutual funds, or other holdings associated with your account. 

2. Clear dues and fees.

3. Download and fill the Groww account closure form.

4. Gather required documents

5. Submit the completed account closure form and supporting documents online, as per the instructions provided by Groww.

6. Await Confirmation. This could take some time, and the exact processing time can vary.

7. Transfer or close holdings

8. Once Groww processes your account closure request, you should receive a confirmation indicating that your Groww Demat account has been successfully closed.

9. At last, verify account closure.

What are the Benefits of Opening a Groww Demat Account?

Therefore, here are some of the benefits of demat account via Groww account login online that you might want to know:

• Free Account Opening and Maintenance: There may be no charges for opening or maintaining a Grow account.
• Zero Brokerage: Groww charges for demat account can be zero on stock and ETF trades.
• Easy to Use: The Groww app and website are easy to use, even for beginners.
• Wide Range of Investment Options: Groww offers a wide range of investment options, including stocks, mutual funds, ETFs, IPOs, and bonds.

• 24/7 Customer Support: Groww may offer 24/7 customer support to help you with any questions or problems you may have.

What are the Important Tips and Precautions for Groww Demat Account Holders?

As a Groww Demat Account holder, here are some important tips and precautions to keep in mind to ensure a secure and successful investing experience.

• Secure Your Account: You can take proactive steps to secure your Groww Demat account. Thus, users may use a strong, unique password and enable two-factor authentication (2FA) for an added layer of security. Additionally, can avoid sharing your account credentials with anyone. 
• Start Small & Diversify Your Portfolio: When you are first starting out, it might be a good idea to start small. Thus, this may help you learn the ropes and minimize your risk. So, you can spread your investments across different asset classes, sectors, and geographies. Additionally, you can consult with financial advisors or utilize Groww’s expert recommendations to build a well-diversified portfolio.
• Regularly Monitor Your Investments: You can keep a close eye on your investments and regularly review your portfolio’s performance. Periodically rebalancing your portfolio can maintain an optimal asset allocation. Thus, utilize the Groww platform’s tracking tools and notifications to stay updated on your investments.

• Be Cautious of Scams: Be wary of phishing attempts and fraudulent activities. Additionally, Groww may never ask for your account login details or personal information through unsolicited calls, emails, or messages. Thus, it is advisable to always verify the authenticity of any communication before providing sensitive information.

To Wrap It Up…

Having a demat account online can be of utmost importance for anyone looking to embark on their investment journey. However, where earlier fraudulent behaviours were practised, creating a demat account in Groww can open new avenues of a safe investment.

So, if you’re looking for a more secure and hassle-free process to open a demat account? Try opening a Groww demat account online via smallcase. Experience the convenience, diversification, and growth potential that can come from combining the power of smallcase’s curated portfolios with Groww’s trusted basic services demat account.

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