Groww Demat Account Opening and Charges 

Groww is a user-friendly investment platform offering free Demat account opening, zero maintenance charges, and low brokerage fees of Rs 20 across trading segments. It provides zero commission on direct mutual funds, a convenient mobile app, and educational resources, empowering investors to make informed decisions while minimizing costs.

Groww Demat Account Features and Benefits

Groww's Demat Account offers free and easy account opening, zero maintenance charges, and low brokerage fees, ideal for new investors. Additionally, it provides zero commission on direct mutual funds, a convenient mobile trading app, and educational resources. Moreover, Groww offers portfolio tracking tools and advisory services for better investment decisions, ensuring a comprehensive investment experience.

• Easy and Free Account Opening Process: Opening a Demat account with Groww is completely free, eliminating any initial costs and making it incredibly easy for anyone to begin their investment journey. This feature is especially beneficial for new investors who are looking for a cost-effective way to enter the stock market and mutual fund investments.
• Zero Maintenance Charges: Groww ensures that your investment journey is as cost-efficient as possible by not charging any annual maintenance fees for your Demat account. This advantage allows investors to maintain their accounts without worrying about recurring costs, thereby maximizing their investment potential over time.
• Low brokerage charges: Groww offers low brokerage charges for Equity Delivery, Intraday, Futures, and Options trading. For Equity Delivery and Intraday, it's a flat Rs 20 per trade. Similarly, for Futures and Options, the charge remains Rs 20 per trade, ensuring cost-effectiveness across trading segments. Zero Commissiotraders will calculate their potential costs in advance.
• Zero Commission on Direct Mutual Funds: By choosing Groww for your mutual fund investments, you benefit from zero commission charges on direct mutual funds. This means more of your money is invested directly into the funds rather than being spent on commission fees. Note that mutual fund investments are subject to market risks and price fluctuation risks; the past performance of the schemes is not an indicator of the future performance of the schemes.
• Mobile Trading App for Convenience: The Groww mobile trading app is designed with the user's convenience in mind, allowing you to manage your investments on the go. Whether at home or traveling, the app provides a seamless and efficient trading experience right at your fingertips, making it easier to keep track of your investments.
• Provides Customer Education: Groww is committed to empowering its users with the knowledge they need to make informed investment decisions. Through a wide range of blogs and eBooks, Groww offers insightful and valuable educational content that covers various aspects of investing and financial planning. This resource is invaluable for both novice and experienced investors looking to expand their financial understanding and investment strategies.
• Portfolio tracking and management tools: Groww offers a robust portfolio tracking and management tool with real-time updates. This tool enables easy management and monitoring of portfolio details, online MF purchases, research reports, and customized recommendations. By utilizing these tools, investors can diversify investments, reduce risks, and work towards achieving their investment goals effectively.
• Access to advisory services for better investment decisions: Groww offers comprehensive advisory services, including stock research and stock recommendations, aiding investors in informed decision-making. With personalized guidance tailored to individual goals and risk tolerance, investors receive expert insights to navigate the market effectively. Additionally, specialized services cater to NRIs, ensuring tailored support for diverse investment needs and regulatory compliance.

Groww Demat Account Charges 2024

Opening a Demat account with Groww is entirely free, with no charges for account opening or annual maintenance, offering a budget-friendly option for all investors. Trading on Groww comes with competitive fees, including a nominal rate of Rs 20 per order or 0.05% for Equity Delivery and Intraday trades and a flat fee of Rs 20 for Futures and Options. This structure ensures trading is affordable and transparent for everyone, from beginners to experienced traders.

Account Opening and Trading Charges

When you open a Demat account with Groww, there are zero account opening or annual maintenance charges, making it a cost-effective choice for investors. For those looking to trade, Groww offers competitive rates as a stock broker. Equity Delivery trades and Intraday trades have brokerage charges at Rs 20 per order or 0.05% of the trade value, whichever is lower. Similarly, Futures and Options are straightforward, with a flat fee of Rs 20 per executed order. These transparent and low-cost charges make trading accessible for all types of investors, from beginners to seasoned traders.

Additional Charges and Taxes

Beyond the basic trading fees, there are a few additional charges and taxes to be aware of. For services like Demat certificate handling, there's a fee of ₹150 per certificate plus courier charges for both dematerialization (Demat) and rematerialization (Remat).

Creating or invoking a pledge in your securities incurs a nominal fee of ₹20 plus ₹12 (CDSL depository charges) per request. Failed transactions and KYC modifications are charged at ₹50 per instance.

The Securities Transaction Tax (STT), GST at 18% on brokerage plus transaction charges and SEBI fees, SEBI charges at ₹10 per Crore, and stamp duty vary by transaction type, adding to the cost of trading but are standard across the industry. These additional fees are part of the regulatory and operational framework, ensuring your trading experience is secure and compliant.

Types of Groww App, Trading Platforms & Tools

Groww offers various trading tools designed to cater to the needs of every investor. With the Groww App, Mutual Fund App, and Web Trading Platform, users gain access to market insights, advanced analysis tools, and a wide range of investment options. These platforms ensure a seamless and efficient trading experience, making investing more accessible and manageable for everyone.

The Groww App

The Groww App offers comprehensive features like detailed market details, a super-fast ordering facility, IPO tracking, and advanced-level charts for trading and analysis. It mirrors the web platform's ease of use, ensuring seamless navigation. The Groww Mutual Fund App provides various mutual fund schemes, investment options, calculators, and performance analysis tools for informed investment decisions.

The Groww Mutual Fund App

For mutual fund investors, introducing the Groww Mutual Fund App, a user-friendly platform offering zero fees, SIP, and lump sum investment options. It features a dashboard for investment tracking and educational resources. With over five thousand mutual fund schemes, users can compare funds based on NAV, risk, and returns, empowering informed investment decisions effortlessly.

The Groww Web Trading Platform

The Groww Web Trading Platform provides accessible features, offering a wide array of investment instruments and the capability to trade derivatives. The company intends to expand its product range in the future, aiming to enhance its offerings. Notably, there's no installable trading terminal, emphasizing the platform's commitment to web accessibility and user convenience.

How do you open a Groww Demat account online?

To open a Demat account on Groww, follow these simplified steps:

1.     Download the Groww App or visit the website.

2.     Register using your email and Aadhaar's registered mobile number, and verify with the OTP.

3.     Enter your PAN to confirm your identity.

4.     Provide bank details (IFSC code and account number) and verify them.

5.     Complete the setup under the Stocks tab, agree to the charges, and unlock the Stocks investment.

6.     Fill in your details and KYC information, including occupation and income.

7.     Upload your signature and e-sign the form via Aadhar OTP.

8.     Your account will be activated within a few hours after document verification.

Documents required for Groww Account Opening:

Opening an account with Groww is a streamlined, online, and paperless process. For new registrations, you'll need to provide:

• PAN card or Passport for identity proof.
• Aadhar card or Passport for address proof.

If you're opting to unlock the stocks option, a simple e-sign with your Aadhar number suffices, eliminating the need for additional documents. However, if your mobile number isn't linked to your Aadhar, you'll need to send a signed physical form to Groww's office to finalize the account opening.

Key Facts About Groww

• Groww was established in 2016, initially focusing on Direct Mutual Fund investments.
• It operates under Nextbillion Technology Private Limited.
• Now offers a variety of products, including Stocks, Mutual Funds, and Digital Gold.
• Enables online investments in IPOs (Initial Public Offerings).
• Boasts a substantial customer base of over 9 million users.
• Groww does not offer investment tips, research, or recommendations.
• Operates exclusively online with no physical branch support.
• Offers free account opening to all users.
• Charges no account maintenance fees, making it cost-effective.

Products Offered by Groww

There is a range of Groww products offered, including direct mutual funds, online trading in Equity at NSE and BSE, digital gold investment, IPO investment, US stocks, fixed deposits, and CDSL depository services. It provides diverse investing options such as equity, commodity, currency trading, options, futures, and mutual funds, along with services like demat, trading, intraday, IPO, and trading exposure services.

How to Close Your Groww Account:

1.     Download the Closure Form: Visit the Groww website, navigate to the 'Download Forms' section, and download the Groww Account Closure Form.

2.     Fill Out the Form: Enter your details, such as name and Client ID, specify your reason for closing the account, and sign the form.

3.     Attach Required Documents: Include a copy of your ledger and any unused delivery instruction slips (DIS) with the form.

4.     Send via Courier: Mail the completed and duly signed form and attachments to the broker's office at the mentioned address in the account closure form.

5.     Securities Transfer: Upon processing, Groww will transfer any securities to the account or DIS you've mentioned and see for any outstanding dues. You'll receive a final statement once your account is officially closed.

You will also receive an email confirmation for your successful account closure process from CDSL(depository) and Groww.

If you have yet to hear back within 10-15 days, reach out to Groww's customer support through chat, ticket, or phone call for an update.

Mutual Fund Investments through Groww Demat Account

Investing in mutual funds through a Groww Demat account offers a streamlined and efficient way to manage your investments. With Groww, you can easily navigate through the process of selecting and investing in mutual funds, leveraging the platform's robust features for analyzing fund performance and making informed decisions.

Opening a Demat Account and KYC Process

To initiate investing, you need a Demat account with Groww. The process entails completing E-KYC (Know Your Customer), a simple step where you provide personal details and essential documents like PAN and Aadhaar and address proof online or offline. Once verified through the DP, your account activates, enabling you to commence investing seamlessly.

Investing in Mutual Funds on Groww

With over 5,000 mutual fund schemes available, explore options seamlessly. Compare funds by crucial metrics such as NAV and expense ratio to make well-informed decisions. Leverage the platform's educational resources and blogs to enhance your understanding of mutual fund investments. This combination of a smooth user interface and academic support equips investors with the tools needed to navigate the mutual fund landscape confidently, ensuring informed and strategic investment choices.

Categories of Mutual Funds Available

Groww hosts an extensive selection of mutual fund categories to suit various investor needs:

• Equity Funds for those seeking long-term growth and can tolerate market volatility.
• Debt funds are for investors looking for stable returns with lower risk.
• Hybrid Funds offer an equity and debt mix for balanced risk and returns.
• Solution-Oriented Funds tailored for specific financial goals like retirement or education savings.

By providing detailed fund performance analysis and a wide array of investment options, Groww makes mutual fund investments accessible and manageable, ensuring investors have the tools they need to achieve their financial goals efficiently.

Conclusion

Groww offers a user-friendly demat account platform with no fees for account opening, maintenance, or minimum balance requirements, along with low brokerage costs of Rs 20. Its intuitive and user-friendly interface, combined with the benefits of educational resources, empowers users to make informed investment decisions, redefining the investment experience.

FAQs

What is the typical duration to open an account with Groww?

 After you submit the account opening form along with the necessary documents, the Groww team will verify your information. This verification process takes just a few hours, and your account will be ready for investment within 24 hours.

What is the account opening charge for Groww?

Groww provides free account opening. There are no charges for opening a trading and Demat account with Groww.

Does Groww provide investment tips?

Groww, an online discount broker, doesn't offer investment tips. Instead, it provides educational content, mutual fund comparison tools, and detailed company data to help investors make informed decisions independently. Ideal for self-directed investment planning.

What investment options does Groww provide?

Groww is India's growing financial services platform offering investment solutions for mutual funds, stocks, US Stocks, ETFs, IPOs, and F&Os.

Does Groww offer a BSDA account?

Yes, a Basic Services Demat account option is offered by Groww.

What are the intraday brokerage charges on Groww?

Groww charges ₹20 or 0.05% of trade value, whichever is lower than the brokerage fees for intraday transactions.