How to Open a Demat Account on Groww

Investing in the stock market has become increasingly popular, and with the rise of online trading platforms, opening a Demat account has never been easier. Groww is one such platform that offers a seamless and hassle-free process to open a Demat cum trading account. In this blog, we will walk you through the steps to open a Demat account on Groww, making your investment journey convenient and accessible.

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Steps to Open a Demat Account on Groww

To open a Groww Demat account, you can follow these steps: 

  1. Download the Groww app or visit the Groww website.
  2. Create an account by entering your email address and mobile number.
  3. Verify your mobile number by entering the OTP that is sent to you.
  4. Enter your PAN number and confirm your identity.
  5. Upload your signature.
  6. Add bank account detail.
  7. Capture a photo.
  8. Upload your E-signature.
  9. Aadhar e sign verification.
  10. Set up account security with a pin or fingerprint.
Open a Demat Account on Groww

Step 1: Log in to Your Groww App

To initiate the process of opening a Demat account on Groww, log in to your Groww app. Once logged in, navigate to the ‘Stocks’ tab and click on ‘Complete Setup’ to begin the account opening process.

Step 2: Open Stocks Account

Under the ‘Complete Setup’ section, you will find the option to ‘Open Stocks Account.’ Groww offers zero account opening charges, but it’s essential to review all applicable charges by clicking on ‘See all charges.’ After reviewing the charges and agreeing to pay them, click on ‘Open Stocks Account’ to proceed.

Step 3: Complete KYC

In this step, you’ll be required to enter details about your occupation, income, mother’s and father’s names to complete the KYC (Know Your Customer) process. Ensure the accuracy of the provided information, and then click on ‘Next’ to move forward.

Step 4: Specify Your Trading Experience

Select your trading experience level from the drop-down list and click ‘Next’ to continue. This step helps Groww understand your familiarity with trading.

Step 5: Upload Your Signature

Your signature is essential to open a Demat account. On a plain white sheet of paper, create your signature using dark ink, ensuring it is legible and clear. You may need to use this signature for future reference, so remember it. Use the camera icon to take a picture of your signature and upload it. If the signature is not clear, you can retake the photo. Once satisfied with the image, click ‘Looks Good’ to proceed.

Step 6: Aadhaar-Based E-Sign

This step involves Aadhaar-based e-signing. Enter your Aadhaar number and receive an OTP (One-Time Password) on your registered mobile number linked to your Aadhaar. Click on ‘E-SIGN AOF’ to initiate the e-signing process.

Note: If your Aadhaar and mobile number are not linked, you can choose the option ‘My mobile is not linked to my Aadhaar card’ and follow the provided instructions. After completing the Aadhaar-based e-sign, the account opening form (AOF) will be sent to your registered email. Print the form, carefully review the details, sign it where required, and courier it to the address mentioned on the screen. Upon form verification, your account will be activated.

Step 7: Enter OTP/Security Code

If your mobile number is linked to your Aadhaar, enter the OTP/security code sent to your mobile and click ‘Submit.’

Step 8: Sign the Demat Account Opening Form

Read the Demat account opening form carefully and click on ‘Sign Now’ to proceed.

Step 9: Complete the E-Sign Process

You will be directed to the NSDL electronic signature service. Enter your Aadhaar number or Aadhaar virtual ID and click ‘Send OTP.’ Enter the OTP received to complete the e-signing process successfully.

After successful e-signing, you will see a ‘Signed Successfully’ screen, followed by a ‘You can start investing now’ message. Click ‘Let’s start’ to proceed. You will be directed to the home screen.

Conclusion:

Opening a Demat account on Groww is a straightforward and convenient process. While it may take a few hours for account verification, you will soon have access to your Demat account and can start your investment journey. Keep an eye on your registered email for the Client Master Report (CMR), which contains essential details about your BO ID or Demat account number. Happy investing!

FAQs

  1. What is a Demat account?

    A Demat account is used to store shares in electronic form.

  2. Why is a Demat account necessary?

    It’s mandatory for participating in the Indian stock market, including investing in shares or IPOs.

  3. What documents are required to open a Demat account on Groww?

    PAN Card, and one of the following: Valid Passport, Aadhaar Card, Voter ID Card, or Driving License.

  4. Does Groww charge for opening a Demat account?

    No. Account opening and Annual Maintenance Charge (AMC) are free. Brokerage charges are Rs 20 or 0.05% per order (whichever is lower).

  5. How much time does it take to open a Demat account on Groww?

    Less than 24 hours if opting for online KYC.

  6. Who is eligible to open a Demat account on Groww?

    Anyone who is 18 years old or above.

  7. Is a Demat account necessary for applying for an IPO?

    Yes, it’s required for all stock market transactions.

  8. Do I need a Demat account for SIP?

    No, a Demat account is not mandatory for mutual fund investments, including SIPs.

  9. When will stocks be delivered to my Demat account?

    At the end of the 2nd day after the transaction (T+2 day), excluding market holidays.

  10. Where can I see my DP ID and Demat details on Groww?

    Under ‘Personal Details’ in the app.

Groww is a platform for financial services in India, offering solutions for mutual funds, stocks, US Stocks, ETFs, IPO, and F&Os. They provide a 100% paperless online process for Demat and trading account opening, without advising or recommending any specific stocks or mutual funds. Transactions on Groww are secure, and they offer various tools and calculators for financial planning and investment.

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Disclaimer: The information provided on this website is for informational purposes only and should not be construed as financial or investment advice. Users are advised to do their own research and consult a qualified financial advisor before making any investment decisions.
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