Groww makes stock investing no-strings-attached: removes account maintenance charges on Demat accounts.

Millennial-focused investment platform Groww has waived account maintenance on its demat cum trading account, thereby providing investors with the flexibility to invest in the stock market without worrying about signing up for monthly, quarterly or annual maintenance charges. The new change in the pricing policy is effective from Nov 23, 2020.
Investors on Groww won’t have to commit to any fixed charges to keep their account active. Only for the orders placed, they will be charged a brokerage amount equal to Rs 20 or 0.05% of the order value, whichever is lower.

Speaking on this development, Lalit Keshre, Co-founder and CEO – Groww said,” At Groww we endeavour to remove all possible roadblocks for the investors to start investing. In our country, where only a mere 3% of the population invests in stocks, annual maintenance charges is one such hurdle. By doing away with these charges, we are allowing investors the flexibility to invest as and when they want instead of having to bother about fixed costs they will have to incur even without using their account. “

Since starting operations in 2017, Groww has been attempting to make investing simple and easy for millennials and GenZ by providing a variety of financial products on a single platform, by removing paperwork with paperless onboarding, and providing a variety of meaningful information and insights in an easy-to-use interface on its app. Groww also empowers its users by providing them financial content in the form of blogs, portfolio management tools, videos, daily and weekly newsletters – in a nutshell giving them all the resources that they need to make smart investing decisions.

The company launched stocks investing on its platform in June 2020 and has recorded more than 6 Lakh Demat accounts within a short span, thereby becoming one of the fastest-growing discount brokers in the country. Groww also added intraday trading, ETFs and IPOs to their stock investing suite recently. Currently, in invite-only mode, customers would soon be able to invest in US equities on Groww app as well. Groww is aiming to add F&O and more advanced options on its platform in 2021.