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How to open Demat account with Groww? Here's a step-by-step guide

How to open Demat account with Groww? Here's a step-by-step guide

How to open Demat account with Groww? Here's a step-by-step guide
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By Anshul  Nov 28, 2020 11:04:36 AM IST (Updated)

A demat account allows the investor to hold securities in an electronic form. It works the same way as a bank account.

A Demat account allows the investor to hold securities in an electronic form. It works the same way as a bank account. When shares are purchased, money gets deducted and vice versa.

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In order to open a Demat account, investors are required to register with their preferred broker, which can be done both online and offline. Investors will have to fill up an application form, and submit the same along with some essential documents. After this, an in-person verification process is initiated.
Once that is successfully completed, investors receive their unique client ID and account number.
Groww—an investment platform—also allows users to open a Demat account digitally. Here are the steps to open a Demat account with Groww:
Step 1:
Log in to the Groww app. Under the ‘Stocks’ tab, click on ‘ complete setup’.
Step 2: Click on ‘Open Stocks Account‘ to proceed. There are no charges on opening a Demat account on Groww
Step 3: Enter details about 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 trading experience from the drop-down list and click on ‘Next’ once done.
Step 5: This step is Aadhaar based on e-sign. Submit the Aadhaar number to the e-sign service and you will receive an OTP on the registered mobile number linked to Aadhaar. To e-sign, click on ‘E-SIGN AOF’.
Step 6: If the mobile number is linked to Aadhaar, enter the OTP/security code sent to your mobile and click on ‘Submit’.
Step 7: Read the Demat account opening form carefully and click on ‘Sign Now’ to proceed.
Step 8: You will be directed to NSDL electronic signature service. Enter the Aadhaar number or Aadhaar virtual ID in the space provided, and then click on the ‘Send OTP’ button. Enter the OTP to complete the e-sign process.
Step 9: 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. The verification will be completed within 24 hours and post that you can start investing in stocks on Groww.
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