Groww is a popular investment platform that provides users with the ability to invest in various financial instruments, including stocks, mutual funds, and more. However, there may come a time when you decide to close your Groww account. Whether you want to stop using the platform or have found an alternative investment solution, this article will provide a step-by-step guide on how to delete Groww account.
Key Takeaways:
- Ensure that all the positions are squared off and there are no active stock holdings in your Demat and trading account.
- Groww doesn’t have any online option to delete Groww accounts through their website or mobile app. You need to follow the offline (download form and submit) method.
- It takes 5-7 business days to delete Groww account after receiving the application form from the account holder.
Can I Delete My Groww Account Online?
Groww doesn’t offer an online option to delete your account directly through their website or mobile app. To close your Groww account, you typically need to follow an offline process. So, you need to download the PDF form to delete the Groww account. I have shared the step-by-step process on how to delete groww account offline.
If you are looking to open a new Demat account, you can compare different stockbrokers, it will help to make an informed decision: 7 Best Broker for Intraday in India 2024 (How I selected the best stock broker)
If you are looking to open account in Zerodha, you can check my Honest review of Zerodha here: Zerodha Reviews 2024
Also, you can compare Groww vs Zerodha | Is Zerodha Better Than Grow? before moving further for How to Delete Groww Account.
How to Delete Groww Account Offline – Method 1
To delete your Groww account, you will need to contact their customer support. Here’s a step-by-step guide:
Groww Closure Form: Get print of the Groww Demat Account Closure Form (Equity Demat and Trading Account Closure Form) the Groww website or you can directly get it from here: Groww Demat Closure Form.
Fill in the Details: Once you download the form, take a print, and fill in the required details such as client ID, reason for the closure, etc. How to Delete Groww Account.
Submit the Form: Submit the duly filled and signed form to the broker’s head office at the address:
Groww Headquarters, No. 11, Second Floor, 80 FT Road, 4th Block, S.T Bed, Koramangla, Bengaluru-560034
Also Check: What Is BO ID In Groww | How Do I Find My BO ID (3 Quick Ways)
In case you want to stop SIP in Groww: here is my guidance: How to Stop SIP in Groww 2024? Cancel SIP Online
How to Delete Groww Account Offline – Method 2
Another method is through mail to the Groww support team.
You can drop an email from support@groww.in. In the subject line, you need to mention “Groww account delete with your DP ID and Client ID”
Now, attach the scanned copy of the form you have filled (check the form attached in method 1) and send the mail. How to Delete Groww Account.
How To Fill Groww Demat Account Closure Form to Delete Groww Account?
Once you have downloaded the form, you need to fill in all the details. The closure form application is quite simple and you just need to enter a few basic details. Here, I have explained all the points and blanks that you need to fill in.
1. Enter your Application number and the date (the date on which you are filing this form). Then tick mark on the closure initiated by “BO.”
2. Tick on the option for the account you desire to close (trading account or Demat account or both) in the “closure for” section.
3. Your DP ID is already mentioned (it will remain the same). You need to fill in the client ID.
4. Fill in all other required details such as name, address, city, etc.
5. Mention the reason for closing the account in the blank box.
6. In case you want to transfer your holdings, enter the new Demat account number; otherwise simply tick on “not applicable.”
7. At the end, write your name and sign the form to self-attest.
After filling out the form, you need to send it to the address mentioned below:
Groww Headquarters, No. 11, Second Floor, 80 FT Road, 4th Block, S.T Bed, Koramangla, Bengaluru-560034
Will My Demat Account Close Automatically?
It’s important to note that closing your Groww account does not automatically close your Demat account. A Demat (Dematerialized) account is a separate account used to hold and manage your securities, such as stocks and mutual funds. Groww acts as a platform to invest through your Demat account, but the Demat account itself is usually held with a depository participant (DP) like CDSL or NSDL.
If you have a Demat account linked to Groww, you will need to separately request the closure of your Demat account with the respective DP. This process typically involves contacting your DP and following their specific procedures for account closure. How to Delete Groww Account.
Groww Customer Care Number
If you still get stuck anywhere on How to Delete Groww Account, you can comment your queries or can directly contact Groww customer care. Here are Groww Customer Care details:
Groww’s customer support email: support@groww.in or
Grow customer care number +91 9108800604.
Conclusion
While closing your Groww account may not be a straightforward online process, it can be done by contacting customer support. Additionally, remember that closing your Groww account does not automatically close your Demat account, and you will need to separately request its closure from the DP. How to Delete 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.