Groww Demat Account Charges, Review, Opening

Groww Demat Account Opening Charges

To open a new Demat account with Groww, the customer may have to pay Demat account opening charges. The broker may also charges Annual Maintenance Charges (AMC), a yearly fee to maintain the Demat account.

Groww Demat Charges

Groww trading and demat account opening charges are Rs 0. Groww charges Rs 0 per year demat account AMC. Groww demat debit transaction charge of Rs ₹8 + ₹5.50 (CDSL Charges) per ISIN per debit transaction.

1. 1. Can we open a Demat account on the Groww app?

   Yes, we can open a Demat account on the Groww app.

   To open the Demat account through the Groww app, you need to register your mail id and mobile number and set up a password to login to the Groww app. To open up your account, you need to provide required details like PAN, bank details, photograph, occupation, income, parent's name, and trading experience. To complete the account setup, you are required to E-sign the account opening form.

   Read Groww account opening for a detailed account opening process.

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2. 2. Does Groww require a Demat account?

   No, Groww does not require you to mandatorily open a Demat account along with a trading account in case you already have a Demat account.

   However, it is advisable to open a trading and Demat account with the same broker for seamless transactions. Moreover, since Groww offers free account opening with zero maintenance charges, it is recommended to open both accounts with Groww for your benefit.

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3. 3. How to delete Groww account?

   The Groww account cannot be deleted or closed online. You are required to submit a physical closure form to initiate the closure of the Groww account.

   Steps to delete/close the Groww account:

   1. Download the Equity Trading and Demat account closure form from the Groww website.
   2. Fill in the client ID and reason for the closure.
   3. Submit the duly filled and signed form to the broker head office at the address mentioned on the form.

   Before initiating the closure of the account, ensure to:

   1. Clear any outstanding dues;
   2. Transfer the securities, if any, lying in the Demat account to another Demat account.

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4. 4. Is Groww CDSL or NSDL?

   Groww has a depository membership only with CDSL in the name of 'Nextbillion Technology Private Limited'.

   Groww CDSL depository participant details:

   Groww DP DEBI Registration No : IN-DP-417-2019

   Groww CDSL DP ID : 12088700

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5. 5. What is an AMC charge in Groww?

   Groww has no AMC charges for maintaining a Demat account with Groww.

   Groww is offering free account opening with zero annual maintenance charges.

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6. 6. What is Groww TPIN?

   Groww TPIN is a facility offered by Groww for the newly introduced e-DIS verification process by CDSL for the selling of stocks.

   Groww TPIN is a six-digit PIN that is sent by CDSL to the investor via SMS and email for verification of the stocks. Once generated, Groww TPIN is valid for 90 day s for the selected stocks.

   Groww TPIN authorizes the broker to debit the shares in the Demat account for the verified stocks. It is a secure way of doing the Demat transactions and replacing the earlier PoA regime that involves a bit of risk for the investors.

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7. 7. What is my Groww Demat account number?

   Groww Demat account number is a 16-digit number combining the Groww CDSL DP ID of 8 digits and your Client ID of 8 digits.

   You can find your client ID under the personal details tab in Groww web or app. You can also find your Demat details in the client master report (CMR) received as part of the onboarding process.

   The Groww CDSL DP ID is 12088700. Thus, if your client ID is 12345678, your Groww Demat account no. will read as 1208870012345678.

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8. 8. How to close the Groww Demat account?

   You can close your Groww Demat account by submitting an offline closure request to the broker. A signed paper form for account closure is to be sent to the broker to close the account. The account cannot be closed online.

   Steps to close Groww Demat account

   1. Download "Groww Account Closure Form" available on the Groww website.
   2. Fill in all the required details like Client ID, Name, and address of the account holder and reason for the closure.
   3. Tick on Closure for Demat and sign the form.
   4. Send the duly filled form to the address mentioned on the form.

   Points to Note:

   • Groww takes 10-15 business days to close the Demat account after the closure form is received by the company.
   • There should be no holdings in the account. Transfer or sell your holdings before submitting the Demat account closure request
   • No trades should be executed from your account after the closure request is initiated.

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9. 9. Does Groww open a Demat account?

   Yes, Groww provides 2-in-1 account services that allow the customers to open a Trading and Demat account.

   Groww offers free Demat account opening with zero annual maintenance charges.

   The Demat account opening at Groww is an instant and completely paperless, and online process.

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10. 10. How to close Demat account in Groww?

    Groww Demat account can only be closed offline. You need to send a duly filled and signed Demat account closure form to Groww's office for Groww Demat account closure.

    Steps to close Demat account in Groww:

    1. Download the Groww Demat account closure form.
    2. Fill in the required details and the reason for closing the account.
    3. Submit the signed form to the broker's correspondence address.

    Before submitting a Demat account closure request, please ensure to transfer or sell all the securities in your Demat account.

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11. 11. Is Groww Demat account safe?

    Groww is a SEBI registered broker having depository membership with CDSL.

    The stocks in the Groww Demat account are actually held with CDSL and not with Groww. Groww works only as an agent for the Demat account for CDSL. Thus, the Groww Demat account is safe and secure as any other Demat account.

    Groww has membership with major stock exchanges like NSE, BSE, NCDEX, and MCX and has all the required certifications to conduct broking operations in India.

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12. 12. Is Groww Demat account free?

    The Groww Demat account opening and AMC is free. Groww charges Rs 20 per trade brokerage and Rs 13.5 demat debit transaction fees. In addition, you have to pay government taxes and other regulatory charges for every transaction with Groww.

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13. 13. Does Groww need Demat account?

    Yes, you need to have a Demat account for making any investments in the Indian stock market. Groww offers a 2-in-1 account that allows you to open a trading and Demat account with the broker.

    The demat account opening is mandatory along with the trading account even though you are planning to trade only in F&O.

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14. 14. Can I close Groww Demat account?

    Yes, you can close the Groww account at any time you wish. To close the Groww Demat account, submit the duly filled and signed physical account closure form to the Groww Head Office.

    Groww does not charge any AMC (Annual Maintenance Charges) for the Demat account hence, you can also keep the Demat account active if you do not have the hassle to maintain other active Demat accounts.

    Note:

    • The demat account cannot be closed online.
    • Make sure there are no shares in the demat account before submitting the account closure request.
    • Ensure to close all the dues.

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15. 15. How to check Groww Demat account?

    You can check the details of your Groww Demat account by logging on to the Groww app or the Groww web account.

    Steps to check Groww Demat account are:

    1. Log in to your Groww account.
    2. Visit your profile under the personal details.
    3. Go to the bottom of the page to check your DPID/Demat account number.

    DPID or Demat account number is a unique number allocated by the Depository Participant in India to each Demat account holder.

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