Groww Eliminates Account Maintenance Charges - Free Demat Account!
Greetings Investors! If you are a stock investor on Groww, you may be aware of the quarterly account maintenance charges that Groww levied earlier. We have now decided to waive off account maintenance charges; from Rs.75 per quarter to zero! Read on to find out more on the changes introduced by Groww.
What is an Account Maintenance Charge?
After you open your demat account, a broker may charge you for maintaining your account on their platform. This is different from demat account opening charge, which was already zero at Groww. From 23 November 2020, Groww stocks investors will no longer be charged for account maintenance.
Also Read : Groww Stocks Pricing Details
Earlier, all onboarded stock investors had to pay a charge of Rs.75 + GST per quarter even if they were not buying any stocks. The price has been reduced to zero, and now you will be paying-per-use. So if you don’t invest in the stock markets regularly, then you don’t have to worry about paying quarterly charges just to keep your account running with Groww .
Pay-per Use
You will now be paying Rs. 20 or 0.05% of your order amount, whichever is lower, for every order.
For example:
Scenario 1: If you buy 100 shares of Rs.1000 each of a company, your order amount is= Rs.1,00,000
0.05% of order amount= Rs.50
Brokerage on your order: You will be paying Rs.20 for this order because it is lower than Rs.50 (0.05% of your order amount).
Scenario 2: If you buy 30 shares of Rs.100 each of a company, your order amount is= Rs 3000
0.05% of order amount = Rs.1.5
Brokerage on your order: You will be paying Rs.1.5 for this order because it is lower than Rs.20 (0.05% of your order amount).
Henceforth you will not be liable to pay any charges in case you use our platform but have not bought any stocks.
Account maintenance charge Brokerage on each executed order Rs.0 Rs.20 or 0.05%of the order value (whichever is lower)
Therefore, if you have opened your demat account with us and have not decided to invest in any stock yet, you will pay only when you make a transaction.
In case you are still thinking whether or not to choose Groww for your investments, this should have removed all the blockers for you.
Happy Investing!
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