Can I Close Groww Account Online?
Unfortunately, you can’t close your Groww account online. You’ll need to follow a manual process that involves downloading a form, filling it out, and sending it physically to Groww’s head office.
Key Highlights
Closing Groww Account:
- Cannot be done online. Requires physical form submission.
Steps:
- Download closure form from website,
- Fill in details, sign, and attach documents.
- Send form to Groww’s head office and Receive confirmation.
- Groww processes closure within 10-12 business days.
Timeframe:
- 10-12 days after form submission.
- Completeness of form and outstanding dues can affect completion time.
Consider Before Closing Groww Account:
- Alternative platforms: Explore options to find a better fit.
- Exit investments: Sell stocks, redeem mutual funds, transfer holdings.
- Settle pending transactions: Avoid penalties or delays.
- Check account balances: Ensure no pending deposits or withdrawals.
- Understand tax implications: Consult a financial advisor if needed.
How to Close Groww Account?
Here’s the step-by-step process to close Groww Account:
- Download the Groww Account Closure Form: Visit the Groww website and go to the “Download Forms” section. Download the “Equity Demat & Trading Account Closure Form.”
![Close Groww Account](https://financefundaa.com/wp-content/uploads/2024/01/image.png)
- Fill in the Details: Fill all the required details in the form such as your Client ID, address for correspondence, and a clear reason for account closure. You can check: How To Fill Groww Demat Account Closure Form To Delete Groww Account?
- Sign and Attach Documents: Duly sign the form and attach relevant documents like a cancelled cheque or bank statement for KYC verification.
- Submit the Form: Send the completed and signed form along with the attached documents to the Groww head office address mentioned on the form. You can also courier or speed post the documents.
- Confirm Receipt: Once Groww receives your closure request, you’ll receive confirmation via email or call.
- Account Closure Process: Groww will process your request within 10-12 business days. They will close your trading and Demat accounts after settling any outstanding dues.
- Demat Account Transfer (Optional): If you wish to transfer your Demat holdings to another broker, provide the transfer details with the closure form. Groww will initiate the transfer after account closure.
How Much Time it Takes to Close Groww Account?
It takes around 10-12 days to close Groww Account after you submit the completed Groww closure form. Make sure your form is accurately filled out with all required details and attached documents to avoid delays.
Things To Consider Before Closing Your Groww Account
- Groww Alternatives: Explore other investment and trading platforms to see if they better suit your needs. Consider factors like brokerage fees, features, research tools, and user interface. (You can compare: Groww vs Zerodha, Zerodha, Upstox, and Groww, Zerodha vs Upstox, Zerodha Vs Angel Broking, ICICIDirect vs Zerodha, Finvasia or Zerodha)
- Exit all positions: Ensure you exit all open positions and investments. Sell off stocks, redeem mutual funds, and transfer holdings to another Demat account if necessary.
- Pending Transactions: Settle any pending orders, SIPs, or recurring transactions to avoid penalties or delays in closure.
- Account Balances: Ensure no pending deposits or withdrawals before initiating closure.
- Tax Implications: Understand the tax implications of selling your investments before closing the account. Consult a financial advisor if needed. You can also comment down your queries related to tax implications, I can help you to resolve. Close Groww Account.
Disclaimer: The information provided on this website is for general informational purposes only and should not be construed as financial advice, investment recommendations, or guarantees of any kind. This information is not intended as a substitute for professional financial advice. You should always seek the advice of a qualified financial advisor before making any investment or financial decisions.