How to Open a Demat Account on the Groww Application

Opening a Demat account on the Groww app is a streamlined process designed to cater to both novice and experienced investors. Groww, a popular online investment platform, offers a user-friendly interface and a variety of investment options including stocks, mutual funds, and more. Here’s a step-by-step guide to help you open a Demat account on Groww:

 Step 1: Download the Groww App

First, you need to download the Groww application. It is available on both the Google Play Store for Android users and the Apple App Store for iOS users. 

1. Open the app store on your smartphone.

2. Search for "Groww."

3. Download and install the app.

Step 2: Sign Up or Log In

Once the app is installed, you need to either sign up for a new account or log in if you already have one.

1. Open the Groww app.

2. Click on “Sign Up” if you’re a new user. Enter your email address and create a password.

3. If you already have an account, click on “Log In” and enter your credentials.

Step 3: Begin the Demat Account Registration

After logging in, you need to start the registration process for a Demat account.

1. Navigate to the “Stocks” section on the app.

2. Click on “Complete Setup” or “Activate Stocks.”

Step 4: Provide Basic Details

You will be prompted to provide some basic information.

1. Enter your full name as per your PAN card.

2. Provide your date of birth.

3. Enter your mobile number and email address for verification purposes.

Step 5: Complete KYC Verification

KYC (Know Your Customer) verification is a crucial part of opening a Demat account. Groww makes this process simple and paperless.

1. Aadhaar-Based KYC:

   - Select “Aadhaar” as your KYC document.

   - Enter your Aadhaar number.

   - Verify it using the OTP sent to your registered mobile number.

   

2. Upload Documents:

   - Upload a clear image of your PAN card.

   - Upload a clear image of a valid address proof (Aadhaar, passport, etc.).

 Step 6: Provide Bank Details

Next, you need to link your bank account to facilitate transactions.

1. Enter your bank account number and IFSC code.

2. Upload a clear image of a canceled cheque or the first page of your bank passbook to verify your bank details.

Step 7: E-Sign the Application

To finalize the application, you need to e-sign it using your Aadhaar.

1. Verify your Aadhaar details.

2. Authenticate using the OTP sent to your Aadhaar-registered mobile number.

3. Sign the document electronically.

 Step 8: Self-Verification via Video

Groww requires a quick video verification to ensure the security of your account.

1. Allow the app to access your camera.

2. Follow the instructions to record a short video of yourself.

3. Ensure you have a good internet connection and sufficient lighting.

Step 9: Submit the Application

After completing all the steps, review your application and submit it.

1. Double-check all the provided information.

2. Click on “Submit.”

Step 10: Approval and Activation

Once you submit your application, it will be reviewed by the Groww team. This usually takes a few hours to a couple of days.

1. You will receive notifications via email and SMS about the status of your application.

2. Upon approval, your Demat account will be activated, and you can start trading.

Conclusion

Opening a Demat account on the Groww app is a seamless process that can be completed within a few minutes, provided you have all necessary documents ready. The intuitive design of the Groww app ensures that even first-time users can navigate the process without hassle. Once your account is activated, you can explore a variety of investment options and manage your portfolio efficiently through the app. Happy investing!