How to Open Demat Account in Groww

Introduction

Is investing in the Indian stock market a tedious process that consumes a lot of time? Gone are all those days. The stock market in India has become more accessible than ever, and one of the basic steps for a beginner to start investing is opening a Demat account. In this guide, we will take you through the step-by-step process of how to open Groww Demat account. The best part is that it covers everything right from eligibility criteria to documentation, verification, and activation, so you can start investing with confidence.

Why Choose Groww for Your Demat Account

Of late, Groww has grown to become a popular, user-friendly investment platform. An amazing feature of this platform is that it lets you invest seamlessly in stocks, mutual funds, ETFs, and more, all on a single app. The list of benefits doesn’t end there. When you open a Demat account with Groww, you also get a trading account, which helps you easily manage your investments, making it pretty convenient. Moreover, Groww offers compelling features such as paperless onboarding, transparent pricing, and no account-opening charges, making it an attractive option for both beginners as well as seasoned investors.

Eligibility Criteria for Opening a Groww Demat Account

Before proceeding with how to open Groww Demat account, it’s important to confirm whether you meet the eligibility requirements:

• You should be 18 years or older to open an individual Demat account.
  
• In cases of minors, a guardian can open and operate the account.
  
• Corporate Demat accounts are also supported: partnership firms, LLPs, private limited companies, trusts, etc.
  
• Note that Groww may not currently support Demat account opening for NRIs (depending on policy) via its standard process.
  

Documents Required

To open a Groww Demat account, you need to submit certain documents. Here is a breakdown:

Identity Proof

• PAN Card – It is mandatory
  
• Apart from PAN card, one of the following documents: Aadhaar Card, Voter ID, Driving License, Passport, or other government-issued ID.
  

Address Proof

• Documents like Aadhaar, Passport, Driving License, Voter ID, or utility bills such as electricity, water, etc. that are not older than a few months.
  
• Alternatively, a bank statement or passbook with an address will also serve the purpose.
  

Bank Proof

• A cancelled cheque leaf, or a bank passbook statement that shows your account details.
  

Income Proof 

• Latest ITR acknowledgement, salary slips, net-worth certificate, or bank statement for past 6 months.
  
• Also, a demat holdings statement (if applicable) can be used.
  

Photo and Signature

• A recent photograph.
  
• A signature (or trackpad-drawn signature) is required.
  

KYC Verification

• Groww requires a “live selfie” for identity verification, typically via its app.
  

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Step-by-Step Process: How to Open Groww Demat Account

Here’s the detailed, step-by-step guide on how to open a Demat account in Groww:

Download the Groww App

• Go to the Google Play Store (Android) or App Store (iOS) and install the Groww app.
  

Sign Up / Login

• Open the app, choose “Create Account” or “Sign Up”, and verify your mobile number via OTP.
  
• You might also provide your email address, depending on Groww’s flow.
  

Start Account Opening

• In the app, navigate to the “Stocks” or “Stocks & Demat” section.
  
• Select “Open Demat Account” or a similar option.
  

KYC Documentation

• Upload or provide the documents listed above: PAN card, address proof, income proof (if necessary), bank proof.
• For e-KYC, Groww uses Digilocker by default : if your Aadhaar is linked with Digilocker, the process becomes easier.

Live Selfie / IPV

• You will be asked to take a “live selfie” for identity verification.
  
• There may also be an IPV (In-Person Verification) step, which is often done via video call.

E-Sign Using Aadhaar

• Once your documents are uploaded, you will be prompted to e-sign the account opening form using your Aadhaar number.
  
• You receive an OTP on the Aadhaar-linked mobile number; enter it to complete the e-sign process.
  

Provide Bank Details

• Enter your bank account details (account number, IFSC, etc.).
• Upload a cancelled cheque or a bank passbook page as proof.

Submit and Wait for Verification

• After submitting all required documents and completing e-sign, Groww will review your application.
  
• This generally takes a few business days. Once your application is approved, you will receive a notification from Groww via email or app.
  

Verification & E-Sign Process

• Groww’s onboarding flow is specifically designed to be fully digital, relying on Digilocker for KYC wherever possible.
  
• The live selfie (IPV) step adds a layer of security, verifying that the person opening the account matches the submitted ID.
  
• The Aadhaar-based e-sign ensures the process is paperless and legally binding.
  
• Once verification is complete, Groww will enable your Demat account and you’ll receive your client master report (CMR), which includes your Demat account number.
  

Account Activation and Usage

• After successful verification, your Demat (and linked trading) account will be activated within a few days.
  
• You can then use your Groww app to buy and hold equities, ETFs, and other securities in your Demat account.
  
• For transfers, you can also deposit securities into your Groww Demat account from another Demat account with a Delivery Instruction Slip (DIS).
  
• Groww sends statements of your holdings on a periodical basis, and you can review your client master report (CMR) on the app or through email.
  

Fees, Charges & Maintenance

• There is no charge for opening a Demat account with Groww.
  
• According to Groww’s depository participant charter, you don’t have to maintain a mandatory minimum balance in your Demat account.
  
• Annual Maintenance Charges (AMC) are nil or very low for Groww Demat accounts, making it cost-efficient for long-term investors.
  
• Other costs (if you trade) may include brokerage, transaction taxes, and other regulatory fees, but these depend on your trading activity and are not directly part of Demat account maintenance.
  

Special Cases: HUF, Trusts, Corporate Accounts

If you’re not opening a standard individual Demat account, here are some special cases:

HUF (Hindu Undivided Family)

• Groww supports HUF Demat accounts with a completely digital onboarding process.
  
• Required documents include: HUF PAN, Aadhaar, bank statement in HUF name, HUF deed, list of coparceners, and Karta’s signature + HUF seal.
  
• Karta must e-sign using Aadhaar, and the process is similar to individual onboarding.
  

Trusts

• For trusts, Groww requires: Trustee PAN & Aadhaar, trust deed, registration certificate, and other trust-specific documents.
  
• A board resolution or list of authorised signatories may also be needed.
  
• The review process can take more time because of the additional documents.
  

Corporate Entities (Partnerships, LLPs, Pvt Ltd, etc.)

• Groww allows corporate Demat accounts for partnerships, LLPs, private limited companies, etc.
  
• Documents required include: certificate of incorporation, memorandum and articles of association, board resolution, partner/directors details, address proof, etc.
  
• Specimen signatures of authorised signatories are needed.
  

Top Benefits of Using a Groww Demat Account

• Completely Digital Onboarding: With e-KYC via Digilocker, Aadhaar-based e-sign, and live selfie, opening is smooth and paperless.
  
• Zero Account Opening Fees: There’s no cost to open your Groww Demat account.
  
• No or Low AMC: Groww’s Demat account is cost-efficient for long-term holding.
  
• Integrated Trading & Investing: Demat and trading accounts are linked; lets you invest in stocks, mutual funds, ETFs seamlessly.
  
• Regular Statements: Groww provides periodic statements and your client master report so you can view all holdings.
  
• Flexible Account Types: Supports individuals, HUFs, trusts, and corporates.

Parting Words

Hope now you’re clear about how to open Groww Demat account. However, opening a demat account is just the starting point in your investment journey. It is more important to learn stock markets right from the basics to the advanced level, from an expert. Entri Finacademy, a trusted finance education platform started back in 2017, offers all that are more. With over 9 million students and a team of highly experienced, expert mentors, this SEBI-compliant platform is the perfect choice for you. Last but not least, features such as live classes and exclusive doubt clearance sessions make Entri a class apart. To know more about Entri Finacademy’s courses, click here.  

Key Takeaways

• Opening a Demat account in Groww is 100% online, leveraging Aadhaar, Digilocker, and e-sign.
  
• You need standard KYC documents such as PAN, address proof, bank proof, and a selfie for verification.
  
• Groww does not charge you for opening or maintaining the Demat account (or charges very low AMC).
  
• After onboarding, your Demat account is activated in a few days, and you can start investing or trading.
• There are tailored processes if you’re opening a Demat account for HUFs, trusts, or corporate bodies.