Opening a Demat cum trading account on Groww is extremely simple. The process is completely online and paperless and won’t take more than a few minutes. So without further ado let’s see the steps in detail.
Step 1: Log in to your Groww app. Under the ‘Stocks’ tab, click on ‘ complete setup’.
Step 2: Click on ‘Open Stocks Account‘ to proceed. The accounting opening charges on Groww are free for a limited period. For other opening charges please click on ‘See all charges’. Once you go through the charges and agree to pay the applicable charges, click on ‘Open Stocks Account’.
Step 3: Enter details about your occupation, income, mother’s and father’s name to complete the KYC process. Verify the correctness of the details and click on ‘Next’ to continue.
Step 4: Enter your trading experience from the drop-down list and click on ‘Next’ once done.
Step 5: The next step involves uploading your signature. Your signature is required to open the Demat account and hence this step is mandatory. On a plain white sheet of paper, make your signature in dark ink. Make sure it is legible and clearly visible. Also, you may be required to submit the same signature in the future if needed, so make sure you remember it. Click on the camera icon to take the picture and upload the signature. You can also retake the photo if the signature is not visible clearly. Click on ‘Looks Good’ if you are satisfied with the picture to continue.
Step 6: This step is Aadhaar based e-sign. In this process, you have to submit your Aadhaar number to the e-sign service and will receive an OTP on the registered mobile number linked to your Aadhaar. To e-sign, click on ‘E-SIGN AOF’.
Please note, OTP/security code will be sent to your mobile-only if your Aadhaar is linked to your mobile number. In case your Aadhaar and mobile number are not linked, click on ‘My mobile is not linked to my Aadhaar card’. Once you click on it you will be shown the following screen.
Also Read: How To Link Aadhaar With Mobile Number
The account opening form (AOF) will be sent to your registered email ID. Print the form, read the particulars carefully, sign at the required places and courier the form to the address mentioned on the screen. Upon verification of the form, you will be notified and your account will be activated.
Step 7: If your mobile number is linked to Aadhaar, enter the OTP/security code sent to your mobile and click on ‘Submit’.
Step 8: Read the Demat account opening form carefully and click on ‘Sign Now’ to proceed.
Step 9: You will be directed to NSDL electronic signature service. Enter your Aadhaar number or Aadhaar virtual ID in the space provided, and then click on
‘Send OTP’ button. Enter the OTP to complete the e-sign process.
You will see a success screen that says ‘Signed successfully‘, followed by a screen that says ‘ you can start investing now’. Click on ‘Let’s start’ to proceed.
You will be directed to the home screen. Please note it may take a few hours for us to verify your account opening form. Till the time we complete the verification process, you might see the following message on your home screen.
The verification will be completed within 24 hours, a post that you can start investing in!
You will also receive the Client Master Report (CMR), which will have details of your BO ID or Demat account number on your registered email ID from Groww as part of the onboarding process.
Hope this was helpful!