Groww: account opening process online, fees, forms

For those that are looking to opening a Demat/trading account with Groww, its generally Rs. 200 only. You may get a promotional offer of Rs.100 for account opening. But there are additional charges such as GST, stamp paper charges, SEBI charges and more that might add on. But, for the annual maintenance charges, its Rs.300 for the Demat account and free for the trading account.

As for the brokerage fee through each of these accounts, its flat 20 rupees per order executed. These orders include equity futures, currency futures, equity options, currency options, equity intraday and more. Currently, the company doesn’t offer commodity trading.

How to open a Demat/trading account with Groww?

Opening a Demat account with Groww can be carried out in a few simple steps. Users can open a two in one account where trading and Demat account features are included. But for intraday trading and reaping other services, a few documents would be required. These include Aadhaar card, PAN card, photo and signature.

The steps involved in opening a Demat/trading account are as follows.

1.Head to the “Groww” website and sign up to create an account.

2.You will then be presented with an online registration form that would ask you generic question such as name, gender, date of birth and more.

3.After successfully filling it, navigate to the stock section and complete the setup. Over here, click on “unlock stocks.”

4.In the next step, users will have to submit the asked documents such as Aadhar card, PAN card, address proof, license proof, etc. with a signature.

5.After all the entered details are successfully verified, then Groww gives the users a unique Demat account number which also known as Beneficial Owner Identification Number (BOIN) which is given to the user within 2-3 business days.