Groww, direct mutual fund app is now offering its customers demat and trading account. We already discussed about demat account opening process. Today we are going to discuss about demat account charges in Groww.
Open Demat and Trading account on Groww
About Groww
Groww is an India-based online investment platform that targets first-time investors and millenials. Headquartered in Bengaluru, Groww allows investors to open an account electronically and transact in mutual funds online. As of June 2018, Groww had partnered with 34 mutual fund houses and around 5000 mutual funds were available on the platform. Nextbillion Technology, the company behind the platform.
Now Groww is offering Demat and trading account to trade in stocks or share market also.
Demat Account Share Trading Charges Fully Explained – Read Now
What is Demat Account?
Demat account is an account with an authorized demat service provider. It holds shares and securities in digital form. The demat account is similar to the bank account but instead of keeping money, demat account holds company shares, mutual funds, bonds etc. in digital format.
What are the benefits of Demat account?
- Holds shares in electronic form eliminating the threat of losses due to theft, damages etc.
- Provides legal ownership of shares without any paperwork.
- Makes the trading process easy.
- Provides an opportunity to trade across different asset classes.
- Safeguards the securities from theft, mutilation and misplacement.
- Eliminates stamp paperwork and makes the transaction process easy and cost-effective.
- Reduces paperwork for transfer of securities.
- No geographical barriers for trading.
- Reduces transaction cost.
What are the charges needed for demta account in Groww?
Groww app mainly a discount broker so there are 2 main charges –
- Account Opening Charge – Free as of now using this link. After that Rs. 200.
- Account Maintenance Charge – Groww charges Rs. 25 per month to maintain your demat account.
Excluding the above charges some main charges are –
- Brokerage
- STT (Securities Transaction Tax)
- Exchange Transaction Charge
- GST on (Brokerage + Exchange Transaction Charge)
- SEBI CHARGE
- Stamp (State Wise)
- DP Charges (CDSL/NSDL)
Other Charges
Demat/Remat: Rs. 150 per certification + courier charges | Failed Off-Market Demat Transactions: Rs. 50 per ISIN | Pledge/ Unpledge of Demat Secutires: Rs. 20 + Rs. 12 per request (CDSL Charges) | Pledge Invocation: Rs. 20 | Perodic/ Adhoc Demat Statement Request: Email: Free, Physical: Rs. 100 per request + Rs. 10 per page + courier charges | Account Modification Request: Rs. 50 | KRA Upload/ Download: Rs. 50 | Delivery Instruction Slip: First (10 leaves): Free | Addl (10 leaves): Rs. 100 + courier charges | Physical CMR(Client Master Report): Rs. 20 + Courier Charges | Physical Contract Note: Rs. 100 + Courier Charges | Courier Charges: Rs. 100 or actual whichever is higher.
i am chandrakant bhujabal of your groww app invest stock market, i want to know that chareges of groww app stock market, buy and sell in groww app .pls my case is consider it`
visit this playlist all are explained https://www.youtube.com/playlist?list=PLDvxSD21MUzd_IIZArBrwyCSZlL2jZlzl