3 Min Read | April 09, 2021
Investing in the stock market or mutual funds can help you to attain the financial stability that you dream of! And, before you begin with your first investment you require a Demat account which you now open very easily with help of brokerage firms like Groww.
From our previous blog, you must have got the information on how to open a Demat account with one of the top brokerage firms, Groww.
But, have you pondered over questions like, ‘how can I close my Demat account with Groww’, ‘can I delete my Demat account with Groww’?
Well, if you want to find an easy way to close or delete your Groww Demat account then simply go through the following blog and you will be sorted!
Let me put this first, Groww being a user-friendly platform, offers you options, either to close or delete your Demat account.
So, you need not worry if due to some unavoidable reason you wish to get rid of your Groww Demat account as there is a hassle-free option to close it.
In this part, I will be laying down step by step procedure to close a Groww Demat account and you can follow the same as and when needed.
1) Open the Groww application and find the ‘Help and Support’ section.
2) You will find a set of categories and among that key in the ‘Others’ section.
3) Choose the option of ‘My issue is not listed here and move to the next step. Please note, that you do not need to waste your time with the search option provided in this part.
4) Once you click on the ‘My issue is not listed here’ tab, you will land on another section where you need to scroll to the end of the page and key in the ‘Contact us’ tab.
5) In order to contact the Groww team, click on the email and you will be directed to the default email application.
6) Now, you simply need to draft a formal mail addressing the support team of Groww.
7) Please note that while drafting the mail you need to clearly mention that you want to close the Demat account with Groww.
8) Once the mail is sent and delivered, the Groww support team will reply to your mail within 24 hours in order to confirm the request you made.
9) Once confirmed, your Groww will be closed in 10 days.
There is an alternative method through which you can close your Groww Demat account.
For this, first, you need to download the Demat account closing form from the official app of Groww. Then carefully fill the form with your Client ID and other necessary details. Finally, send the letter to Groww’s head office address.
Once the letter is received by the Groww office, your account will be closed in 10 days.
To conclude I would like to make a very important point that, before you initiate the request for closing your Groww Demat account, make sure to transfer all your holdings (either derivatives, shares or mutual funds) from it.
I hope now you would not face any issue while either deleting or closing your Demat account with Groww.
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