How to Close Groww Account?

Do you want to know how to close Groww Account? You are at the right place! Now there could be many reasons why you would want to do this. Over the years, Groww has become a well-known and reputable broker. But it might not be able to cater to all your investing needs.

Before all, you need to know that the Groww account cannot be deleted or closed online. You will need to fill up a physical form and follow the offline process. No, don’t worry, it is not that tedious. 

In this article, find out all the steps needed to close your Groww account online. Let’s get started!

Important things to read before closing the Groww Account

Here are some important things to consider before closing your Groww Account:

• Have second thoughts: You must think carefully because once you delete your account, you cannot open a new demat account on Groww using the same PAN as before.
• Clear your holdings: Make sure to sell off or transfer all your shares to another demat account. You cannot close your account if you have any active holdings or positions in your Groww demat and trading account.
• Settle Outstanding Dues:  Your Groww account wallet should have zero balance before closure. Settle all your dues and have no negative balances.

Step-by-Step Guide to Close Groww Account 

Follow the steps below to get your Groww account deactivated or closed:

Step 1: Access the Groww account closure form

You need to contact customer support to download the form through the Groww app. Let us know in detail:

• Login to the Groww app

• Navigate to your profile section.

• Click on “Customer Support 24x7”.

• A new window opens up listing various options. Select “My Account”.

• Then, click on “Groww Account” and scroll down to find “I want to close my Groww Demat Account'' and click on it.

• Click on the “Contact Us” option available at the bottom.

• Raise a ticket and write a proper message describing the issue in detail.

• You will get a response with a link to download the account closure form and further instructions in an email or SMS. Or you can directly download the Groww account closure form pdf from here.

Step 2: Fill Out the Form

• Fill in the application number and date.
• Tick the option “BO” in the “Closure Initiated Section”.
• Tick “Demat” in the “Closure for” section.
• Provide your Groww Client ID and other basic information like name and address.
• Fill in a valid reason for requesting account closure.
• Enter details of a new Demat account, in case you want to transfer your holdings. (this step is completely optional)
• Sign the form and send it to the address mentioned below:

Groww Headquarter, No.11, Second Floor, 80 FT Road, 4th Block, S.T Bed, Kormangla, Bengaluru-560034.

Step 3: Wait for Processing and Confirmation

Wait for 6-8 business days for Groww to process your closure request. Once your request is approved, your account will be deactivated. You will receive confirmation from the Groww Customer Support team through an email or a phone call.

Final Words

I hope after reading this article, you got the answer to your question about How to close Groww account. While Groww offers competitive features, it might not always be a perfect fit for some. If you are looking for alternatives to Groww, you can check out a detailed comparison between Groww vs. Zerodha for some insights. 

Make sure to stay updated and avoid any unnecessary problems by keeping your account inactive. Do your research and choose the correct broker that suits your needs.