Opening a Groww account is quick, hassle-free, and completely online. Groww offers free trading and Demat account services, with zero annual maintenance charges. As one of India’s leading online brokers, Groww provides an easy way to invest in stocks, mutual funds, IPOs, and digital gold.
Groww Account Charges
| Transaction | Charges |
|---|---|
| Trading Account Opening | Rs 0 (Free) |
| Demat Account Opening | Rs 0 (Free) |
| Account AMC (Annual Maintenance) | Rs 0 |
| Demat AMC (Yearly) | Rs 0 |
With Groww, you don’t have to worry about any hidden fees or annual charges, making it an attractive option for both new and experienced investors.
Products Offered by Groww
Current Offerings:
- Stocks (Equity trading on NSE and BSE)
- Direct Mutual Funds
- Digital Gold
- IPO Investment
Upcoming Products:
- US Stocks
- Fixed Deposits
Key Features of Groww
- Launched in 2016 as a direct mutual fund investment platform.
- Brand operated by Nextbillion Technology Private Limited.
- Large user base of 9+ million customers.
- Offers a free trading platform through both mobile apps and the web.
- No branch support – fully digital service.
- No tips or research recommendations provided.
Read: Zerodha Account Opening Guide 2024: Process, Documents, and Charges
How to Open a Groww Account Online
Groww offers a 100% digital and paperless account opening process, which can be completed via the website or mobile app in a few simple steps.
Steps to Open an Account on Groww:
- Download the Groww app or visit the Groww website.
- Sign up with your email and mobile number.
- Verify your mobile number using the OTP sent to your phone.
- Enter your PAN number for identification.
- Provide your bank details (Account Number and IFSC code).
- Verify the bank details and click Complete Setup under the “Stocks” tab.
- Agree to the applicable charges and open a stock investment account.
- Provide your occupation, income, and KYC details.
- Upload your signature by signing on a white paper and clicking a photo.
- e-Sign the form with your Aadhaar number and OTP.
- Your account will be activated within 24 hours, following verification.
If your mobile number is not linked to your Aadhaar, you’ll need to courier a physical account opening form (AOF) to Groww’s office for verification.
Documents Required for Groww Account Opening
To open a Groww account, you need the following documents:
- Identity Proof: PAN Card.
- Address Proof: Aadhaar Card, Passport, Voter ID, or Driving License.
- Bank Details: Account number and IFSC code.
- Signature Photo (scanned or photographed).
If your Aadhaar isn’t linked to your mobile, a physical form must be sent to complete the process.
Groww Account Opening Status
Groww typically takes a few hours to verify your documents and activate your account. However, if you’ve sent physical documents, the process may take several days, depending on how quickly they reach Groww’s office.
You can check your account opening status via the Groww app:
- Go to Help & Support > My Account to see the status.
- Alternatively, contact customer service via chat, ticket, or by calling the Groww customer care number: +91-9108800604.
How to Close a Groww Account
To close your Groww trading and Demat accounts:
- Download the account closure form from the Groww website.
- Fill in the required details (Client ID, reason for closure, etc.).
- Send the form, along with any required documents, to Groww’s office.
- Once processed, you’ll receive a final statement confirming the closure.
Frequently Asked Questions (FAQs)
- How long does it take to open a Groww account?
- The Groww account opening process is instant and usually takes just a few hours for verification, with full activation within 24 hours.
- What are the account opening charges at Groww?
- Groww offers free account opening with zero AMC (Annual Maintenance Charges).
- What documents are needed to open a Groww account?
- PAN Card, Aadhaar (or other valid address proof), bank details, and a signature photo.
- Does Groww provide stock tips or research?
- No, Groww does not offer stock recommendations or research services. However, it provides tools and information to help users make informed decisions.
- How to close a Groww mutual fund account?
- Submit a signed account closure form to Groww’s head office. Ensure that any SIPs are canceled, and all mutual fund proceeds are withdrawn before account closure.
- Is the Groww account opening free?
- Yes, Groww offers free trading and Demat account opening without annual charges.
Conclusion
Opening a Groww account is an easy and free process, ideal for anyone looking to invest in stocks, mutual funds, or IPOs. With no account maintenance fees and a user-friendly app, Groww makes it accessible for all types of investors.
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