Groww is one of India's popular platforms where you can open your demat account and begin your investment journey. Opening a Groww Demat account is very simple. Simply provide your basic information and bank account details. After that, a PAN card is required for KYC (Know Your Customer) verification, and following that, you are ready to buy and sell stocks.

But before opening a Demat account, it is very important to know the different charges levied by your brokers. AMCs, or annual maintenance charges, are one such fee that you pay each year(or quarterly) to maintain your demat account. These fees will continue to accrue even if you do not use your Demat account .

Groww demat account cannot be closed online. Neither can it be deleted. So, you have to fill and submit the form offline. And even before initiating the closure process, you have to check if any dues are outstanding or transfer is pending. If yes, then you have to wait and clear it.

You can try closing online by dropping an email at “support@groww.in” or via calling their helpline number. Though there is no guarantee but if your reason is genuine, they can consider the request. In the email mention your DP number in the subject line.

Why it's important to close the Demat account if no longer in use?

Due to the ease of opening a Demat account, many times people open accounts under different brokers and then forget about their demat account and even what kind of stocks they are holding. But it is very important to remember that leaving the portfolio idle and unused for the long term may put you under debt because of high Account Maintenance Charges (AMC).

So, it's better to close the demat account that's inactive or not in use.

How to close Groww Demat Account?

Although closing a Groww Demat account is more difficult than opening one, but here are the step-by-step instructions to close your Groww Demat account.

However, before moving forward, make sure that there are no open positions, unsettled funds, or active stock holdings in your Demat account; otherwise, your request will be denied.

Steps to Close the Groww Demat Account

Step 1: Open the Groww app and log in to your account.

Step 2: Click on your profile picture(top right corner).

Step 3: Next, you have to Click on the "Help & Support " option.

Step 4: Then, Click on the search bar

Step 5: Search " I want to close my Groww Demat account" and click on it

Step 6: A new page will open, read all the instructions thoroughly.

Step 7: Simply, Scroll down and click on "Contact Us".

Step 8: Now you can either Raise Ticket or Call The Team.

Step 9: In both cases request and mention the cause of account closure.

Step 10: After that, the team will review your account and a team member will guide you for further processes.

Closing Groww Demat Account

You can close your Groww Demat account by taking a few easy steps, but before doing so, it is imperative to check if there are no overdue charges , penalties or shares pending in the account; otherwise, the request won't be processed.