Groww Stock Trading, Demat, Brokerage and Reviews 2023

Groww Brokerage Plan

Groww follows a fixed brokerage model wherein it charges a flat Rs 20 per executed order for Equity Delivery, Intraday and F&O trades. The maximum brokerage chargeable per order is Rs 20 across trading segments.

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1. 1. How Groww works?

   Groww is an online discount broker providing investment offerings in mutual funds, stocks, IPO, and digital gold. Groww offers free account opening with zero maintenance charges.

   To avail of the various services offered by the company, you need to open a trading and Demat account with Groww. With a trading and Demat account, you also need to have a savings account with any bank in India. The Demat account gets linked to your trading account. Once all the accounts are ready, you can trade with Groww through any of the Groww trading platform offered via the web or mobile app.

   Groww does not provide tips, recommendations, or advisory services. Groww publishes a lot of content and information about capital markets that can help investors make an informed decision.

   Groww follows a flat fee model. It charges a lower of Rs 20 or 0.05% of trade value as a brokerage charge for Equity trades.

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2. 2. How is Groww?

   Groww is a low-cost broker with the free account opening and zero maintenance charges. It charges a lower of Rs 20 or 0.05% of trade value as a brokerage charge for Equity trading. The mutual fund investment at Groww is free with no transaction charges or redemption charges.

   Groww is a SEBI registered broker and a member of NSE and BSE in the name of Nextbillion Technology Private Limited that provides online trading services to its customers. It has a depository participant with CDSL.

   Groww provides trading platforms under the brand name of Groww in web and mobile versions.

   Groww is one of the fastest-growing investment platforms in India. Groww started as a direct mutual fund platform with equity stocks and gold recently added to its product suite. The company is further looking to expand its product offering to include US Stocks and Fixed Deposits.

   Overall, Groww is a good broker with a firm footing in the mutual fund space.

   Read How safe is Groww? for more details.

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3. 3. How to invest in Groww?

   To start investing with Groww, first, you need to open a trading and Demat account with Groww either through the web or mobile app. Groww offers free account opening. Once the trading and Demat accounts are ready, you need to login into your account and start investing.

   To invest in mutual funds, you are required to go to the mutual funds' tab, choose the desired mutual fund based on your risk profile, and click Invest Now and make the payment either through SIP or lumpsum mode as available for the selected scheme.

   To invest in Stocks, go to the Stocks tab and select the stock you need to buy or sell and place the order by inputting the desired quantity. Before placing the order, ensure to have the required funds or securities in your account.

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

   Groww account cannot be closed online. You need to download the account closure form and send the duly filled physical form to the broker office.

   Steps to close the Groww account

   1. Download the Equity Demat & Trading Account Closure Formfrom the Groww website available in Download Forms.
   2. Fill in the Client ID, address for correspondence, and the reason for the closure.
   3. Send the duly signed form to the broker office at the mentioned address in the account closure form.

   Before initiating the closure, ensure to clear any outstanding dues and transfer the securities lying in the Demat account (if any) to another Demat account.

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5. 5. How to transfer funds to Groww?

   Groww has an internal balance account called Groww balance to make the trading and investment process easy and convenient for the investors. 

   Steps to transfer funds to Groww balance:

   1. Log in to Groww either through the web or mobile app.
   2. Tap on 'You' under your Groww account profile.
   3. Click on 'Add Money'
   4. Choose the desired mode of payment from UPI or Net banking.
   5. In case you choose to pay using UPI, enter the UPI ID and approve the mandate,
   6. In case you choose to pay using Net banking, you will get directed to your bank website to complete the transaction.

   1. Once the payment transaction gets completed, tap on 'okay' on the Groww app.

   Your Groww balance gets upgraded with the amount transferred and you are all set to invest at one-click.

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6. 6. Do I need to maintain a minimum balance in Groww?

   Groww does not require you to maintain any minimum balance in the Groww balance account. You can keep any amount as per your choice.

   Groww Balance is a facility offered by Groww to make trading and investment convenient for investors instead of making a separate transaction each time.

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7. 7. What are the payment options available at Groww?

   Groww offers various payment options to investors that make trading easy and convenient.

   Payment options at Groww:

   • Transfer funds to Groww Balance using UPI or Net banking
   • Transfer transaction wise funds using NEFT or Net banking
   • Setup One-time Mandate for SIP using Autopay via OTP or Autopay via Form to automate your SIP instalments.

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8. 8. What is Groww?

   Groww is a new-age investment platform for Millennials. Started as a direct mutual fund platform, Groww is one of India's fastest-growing investment platform that aims to be an all-in-one platform to diversify investor portfolio across multiple asset classes.

   Groww is an online discount broker that currently offers stocks, mutual funds, digital gold, and very soon looks to launch US Stocks and Fixed Deposits.

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9. 9. How to close Groww account?

   Groww account can be closed offline by submitting an account closure form to the Groww Head office. Groww does not offer to close the trading and Demat account online, via email or by phone.

   Steps to close Groww account

   1. On the Groww website, go to "Download forms" under the Quick Links section.
   2. Download Equity Demat & Trading Account Closure Form
   3. Fill the closure form with the below details.
   4. Attach a copy of the ledger and unused delivery instruction slips.
   5. Courier the form and supporting documents to the address in the form.

   Your account will get closed in 10-15 working days post the broker receives the closure form. If not, follow up with customer support.

   Points to Note before initiating the closure request:

   1. Clear any outstanding dues to the broker.
   2. Transfer the securities/holdings to another Demat account or sell off as desired.
   3. Do not use the account while account closure is in progress.

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10. 10. Is Groww a discount broker?

    Yes, Groww is an online discount broker offering flat fee discount brokerage services to invest/trade in Equity, F&Os, IPO, Fixed Deposits, Direct Mutual Funds, and US Stocks.

    Unlike full-service brokers, Groww does not provide market research and trading tips. They also do not have branch offices and relationship managers. Call & trade is available at additional Rs 50 per executed order.

    Established in 2016, Groww is the brand name for Nextbillion Technology Private Limited, a SEBI registered stockbroker and a member of NSE and BSE. Groww charges a max brokerage of Rs 20 per order, irrespective of the segment or amount. The company has its own web and mobile trading platform called Groww.

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11. 11. Is the Groww app a Demat account?

    Groww offers online trading and demat accounts. Groww app is a mobile app to invest in Stocks, F&Os, Fixed Deposits, Mutual Funds, IPOs, and US Stocks.

    Groww offers 2-in-1 account services that allow investors to open a Trading and Demat account. For trading using the Groww app, you need to open a Demat account with Groww that stores all the shares and securities in an electronic format. Groww offers a free Demat account opening with zero maintenance charges (Rs 0 Demat AMC).

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12. 12. Does Groww take brokerage?

    Yes, Groww charges a maximum of Rs 20 as the brokerage for Equity and F&O trading.

    The company does not charge any brokerage or commission for mutual fund investments. Groww also provides free account opening with no AMC charges for the Demat account.

    Groww Brokerage Charges

    Segment	Brokerage
    Equity Delivery	Rs 20 per executed order or 0.05% whichever is lower
    Equity Intraday	Rs 20 per executed order or 0.05% whichever is lower
    Equity Futures	Rs 20 per executed order
    Equity Options	Rs 20 per executed order

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13. 13. Is Groww app good for mutual funds?

    Groww mutual fund app is one of the highest-rated apps in the mutual fund industry offering Direct Mutual Funds.

    Key Salient features of the Groww mutual fund App:

    • Zero fees, no transaction charges, no hidden fees.
    • Safe and secure app.
    • Smooth user-interface.
    • Option to invest in SIP or lumpsum mode.
    • Dashboard to track your investments and annualized returns.
    • Option to switch external regular mutual funds to direct mutual funds for free.
    • Compare various funds on Key features like NAV, Risk, Returns, Expense Ratio, Pros, and Cons.
    • Educative blogs and resources related to mutual funds.

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14. 14. How to delete Groww Demat account online?

    Groww Demat account cannot be deleted online. You need to submit the filled and signed physical account closure form to the broker's Banglore office.

    Please ensure to sell or transfer the securities, if any, lying in the Demat account to another Demat account. Also, make sure to clear all dues.

    You receive an email confirmation from CDSL (depository) and Groww once the account is successfully closed.

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15. 15. Can we buy IPO in Groww?

    Yes, Groww allows you to buy IPO online through the Groww mobile app or Groww web at no extra cost provided you have,

    1. An active account with Groww
    2. A UPI ID.

    If you do not have a UPI ID, you can also apply using your bank's ASBA facility and provide the Groww Demat account for the IPO application.

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