Open Groww Account | Groww Account Opening Online Process Review


780,570 Clients

Groww Account Opening Charges 2021

Groww account opening charges are Rs 0 for a trading account and Rs 0 for Demat account. Groww charge Rs 0 AMC for Demat account.

TransactionCharges
Trading Account Opening ChargesRs 0
Account AMC ChargesRs 0
Demat Account Opening ChargesRs 0
Demat AMC (Yealy)Rs 0

Groww is an online broker offering investment and trading services to its customers to invest in the Indian Stock Markets. The company does not provide any tips, recommendations, or research services.

Groww offers to trade in Equity, IPO, and Mutual funds. The company is working to expand its product base offering to include US Stocks, Digital gold, and Fixed Deposits in a phased wise manner.

Groww customers can use the advanced trading platform Groww offered by the company for free that includes a mobile trading app and a trading website.


Key Facts about Groww

  • Incorporated in 2016 as a Direct Mutual Fund investment platform.
  • The brand name behind Nextbillion Technology Private Limited
  • Current product offerings include Stocks, Mutual funds, and digital gold.
  • Online IPO Investment.
  • Large customer base with 90+ lakhs customers.
  • Do not provide tips, research, or any recommendations.
  • No branch support.
  • Free account opening.
  • Zero Maintenance Charges.

Products Offered by Groww

  • Live Products
    • Direct Mutual Funds.
    • Online Trading in Equityat NSE and BSE.
    • Investment in Digital gold(available on the web)
    • IPO Investment
  • Products under development and testing phase
    • US Stocks.
    • Fixed Deposits
  • CDSL Depository Services.

Groww Account Opening

Groww offers online and instant account opening to its customers. The account opening at Groww is free and a simple, easy, and completely paperless process. Groww does not offer an offline account opening.

Steps to open account with Groww

  1. Download the Groww App/Open the Groww website.
  2. Register with an email id and mobile number.
  3. Verify the mobile number by entering OTP received on the mobile number.
  4. Enter the PAN No. and confirm your identity.
  5. Enter your bank details like the IFSC code and account number.
  6. Verify the bank details.
  7. Click on Complete Setup under the Stocks tab.
  8. Read the details of applicable charges and tick to agree.
  9. Click on Open Stocks account to Unlock Stocks investment option on Groww.
  10. Enter the details of your occupation, income, names of father and mother, and click on Next to complete the KYC process.
  11. Enter your trading experience from the list of values and click on Next
  12. Sign in dark ink on white paper, click the photo, and upload your signature.
  13. e-Sign the account opening form based on your Aadhar.
  14. Enter the OTP received on the linked mobile number.
  15. Read the instructions on the account opening form and click on Sign Now.
  16. Enter the Aadhar number on the NSDL E-sign service portal and click on Send OTP.
  17. Enter the OTP to complete the account opening process.
  18. The account gets activated in a few hours once the document verification gets completed at the broker end.

 

 

Note: In case your mobile number is not linked to your Aadhar card, you need to courier the physical copy of the account opening form (AOF) to the broker office.

The broker sends the AOF to your registered email id if you click on ''My mobile is not linked to my Aadhaar card'. You are required to download, print, sign, and send the form to the address mentioned in the AOF. The account gets activated once the broker receives and completes the verification of the account opening form.


Documents needed for Groww Account Opening

Groww account opening is an online and paperless process. If you are registering with Groww for the first time, you may require to provide the PAN card/Passport and Aadhar card/Passport as identity and address proof. However, if you are unlocking the stocks option on Groww, you only need to e-sign with your Aadhar number and do not require any other document for completing the account opening process.

If your mobile number and Aadhar number are not linked, you will have to courier a duly signed physical form to the broker office to complete the account opening process.


Groww Account Opening Status

Groww account opening is an instant process. It takes just a few hours for the broker to verify the details provided after you have submitted the E- signed AOF. However, if you have couriered the form, the account opening may take a few days considering the time taken for the documents to reach the broker office.

You can check the account opening status on your home screen that displays a message; Your documents are being processed. You can start investing in stocks in 24 hours.

You can also check your KYC status under Help & Support >> My Account. Alternatively, you can also raise a ticket with the Customer Help and support group or initiate a chat with the Customer Helpline/Customer Care Team or call the Groww customer care number (91-9108800604) to get the updates.


Groww Account Opening Forms

Groww account opening is entirely an online process. Hence the company does not provide account opening PDF forms on its website for download. The company has other account modification forms listed on its website under Download Forms options like Demat Form, modification form, pledge/unpledged form, nomination form, etc.

The physical account opening form is sent to your registered mail ID only when you do not have your mobile number linked to your Aadhar card. You are required to download the AOF, sign it, and courier the form to the broker office to complete the account opening process.


Groww Account Closure Form

You can close the Groww trading and Demat account anytime you wish. Before initiating the closure of the trading/Demat accounts, you need to clear all the outstanding dues and also transfer the securities in your Demat account to another Demat account.

You cannot close the Groww trading and the Demat account online. You have to download the form from the website and send the duly filled and signed form to the broker office to initiate the account closure process.


Steps to Close Groww Account

  1. Download Account Closure Form from the website. It is available under 'Download Forms'.
  2. Fill in details like your name, Client ID, the reason for the closure, and sign it.
  3. Attach a copy of the ledger and unused delivery instruction slips.
  4. Courier it to the company address.

The company will transfer the securities to the account mentioned in the form/DIS. You will receive the final statement on the closure of your account.

If you do not receive any communication from the company within 10-15 days, then follow up with customer support via chat, ticket or call.

Frequently Asked Questions

  1. 1. How long does it take to open an account with Groww?

    The account opening at Groww is a quick, hassle-free, and paperless process.

    Once the account opening form gets submitted to Groww, the Groww team takes a few hours to verify the account opening form and documents and the account gets ready for investing within 24 hours.

     

  2. 2. What is an account opening charge in Groww?

    Groww offers free account opening to its customers. Groww does not charge for opening a trading and Demat account. It also has zero maintenance charges for maintaining a Demat account with the broker.

     

  3. 3. How to open a Demat and Trading account with Groww?

    The account opening with Groww is a simple, instant, and paperless process.

    Steps to open Demat and Trading account with Groww:

    1. Download the Groww App/Open the Groww website.
    2. Register with an email id and mobile number.
    3. Enter the PAN No. and confirm your identity.
    4. Enter and verify your bank details like the IFSC code and account number.
    5. Click on Complete Setup under the Stocks tab.
    6. Click on Open Stocks account.
    7. Enter the details of your occupation, income, names of father and mother, and click on Next to complete the KYC process.
    8. Select your trading experiencefrom the list of values and click on Next
    9. Sign in dark ink on white paper, click the photo, and upload your signature.
    10. Click on E-Signthe account opening form based on your Aadhar and Sign Now.
    11. The account gets activated in a few hours once the document verification gets completed at the broker end.

    In case your Aadhar number is not linked to your mobile number, you need to click on 'My mobile is not linked to my Aadhar card' and download the AOF (account opening form) sent to your registered email id. You are required to send this physical copy of the duly signed AOF to the address mentioned in the AOF.

    It is important to note that the account opening may take a bit longer in such cases as the broker can start verification of documents only once they receive them at their end.

     

  4. 4. How to open a Groww account online?

    Groww offers only online account opening to its customers. It is a 100% paperless process with an E-sign option to complete the account opening.

    Steps to open Groww account online:

    1. Login to Groww web/app.
    2. Register with your mail id and mobile number.
    3. Provide your identity details, bank details, personal details like occupation, income, parents name, trading experience.
    4. Upload your signature on a white paper.
    5. E-sign based on your Aadhar to complete the account opening process.

    In case your mobile number is not linked to your Aadhar number, you can choose to download the AOF and send a physical copy of the AOF to the broker office for verification.

     

  5. 5. What are the documents required for Groww account opening?

    The account opening at Groww is a 100% paperless process. If you are opening an account with Groww for the first time, you may need to provide identity and address proof documents for completing the KYC. However, if you are unlocking the Stocks option, you are only required to E-sign the form by providing the required details.

    Documents required for Groww account opening:

    • Identity proof - PAN Card.
    • Address proof - Aadhar Card, Passport, Voters ID, or driving license.
    • Bank Account details - IFSC Code, Bank account No.
    • Signature Photo.

     

  6. 6. Does Groww offer tips?

    No, Groww does not offer any tips, recommendations for any stocks or mutual fund investments.

    Groww is an online discount broker with no advisory services. However, Groww publishes a lot of information about stocks, mutual funds that can help investors make an informed decision.

    Moreover, Groww also offers to compare mutual funds on Key parameters and stores the complete information of all the listed Indian companies that can help investors to make the right decision.

     

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Information on this page was last updated on Thursday, February 18, 2021


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