Groww NRI Account – Benefits, Charges, Opening Process, Support & more

Groww NRI Account is a premier choice for non-resident Indians (NRIs) eager to enter or continue their existing journey in the Indian stock market.

With a massive 6 million active clients and a robust team of over 3000 members, Groww earns the status of one of India’s leading trading platforms.

This Groww NRI Account Review covers everything you need to know, from essential details about Groww to the nitty-gritty of opening an account and understanding the associated Groww NRI account charges.

So, without further ado, let’s navigate India’s famous mobile-friendly platform for traders and investors.

Why invest with a Groww NRI account?

If Groww NRI Account becomes accessible to NRI users, here’s a list of features you will be entertained by:

• One of Groww NRI Account’s standout features is its straightforward account opening process. The broker provides a quick and easy way to start your investment adventure.
• If you are worried about high fees eating into your investment, Fret not! Groww offers one of the lowest account opening fees, starting at just Rs.500.
• Broker also provides one of the best mobile experiences through its Android and iOS apps.
• Speaking of beginners, the Groww NRI Account is tailored for those who prefer a simple user interface.
• While Groww offers a variety of stocks to trade, its intraday trading is not available.
• Nobody likes hidden fees and surprises, but Groww stands out for its transparency regarding fees.

Opening an NRI account in Groww has an initial fee of Rs.500. The user must pay an annual maintenance charge (AMC) of Rs.500 plus 18% GST.

This means you’ll be paying Rs.590 annually to maintain your Account. While the account opening charge might seem reasonable, you should know about Groww NRI account AMC.

Potential users must weigh these costs charged by the broker every year against the benefits offered by the platform. Remember that as a Groww user, there’s no way to avoid these charges.

The Groww NRI account brokerage is expected to come with a straightforward fee structure. Groww’s Account offers competitive brokerage charges.

For equity delivery under PIS, the broker charges Rs.150 per trade; for non-PIS, it’s Rs.100. Unfortunately, Equity Intraday isn’t available.

The charge for equity futures and options is Rs.150 per trade. The pricing structure is straightforward, which could make it easy for NRI investors to understand and plan their trades effectively.

While the absence of Equity Intraday may be a drawback for some, the overall transparency and simplicity of charges make Groww a viable choice for NRI investors looking for a user-friendly platform.

How to open a Groww NRI account?

Before discussing the process, please note that you are good to go if you are an NRI with an NRE or NRO account.

Just coordinate with the broker’s team and open an account. Alternatively, follow the steps below.

1. Opening an NRI account with a stock broker in India is easy. First, pick a Depository Participant (DP), like the trusted Groww, approved by SEBI.
2. Then, visit the NRI registration page online on the platform to find the account opening form.
3. Now, fill out the form and add proof of identity and address. You can do this both online and offline. Simple!
4. After that, it’s agreement time. You and your broker sign an agreement laying out what you are responsible for.
5. Once the paperwork is done, you will receive your demat account number, which is similar to a bank account number.

Please note: You can’t open a Groww NRI account right now as the broker’s services aren’t active for NRI.

Open Free NRI Account Now!

Invest with Lowest Brokerage

Submit

Loading...

Thank you for sharing your details, We will connect with you Shortly!

To open a Groww NRI Demat and Trading Account, you’ll need a few essential documents:

• NRI Account Opening Form, while you’re making sure it is filled out and signed.
• You will then need to provide a copy of your PAN card.
• For overseas address proof, submit a document like a driving license, bank statement, or overseas passport.
• For proof of Indian address, please provide an Aadhaar, a driving license, or an Indian passport.
• You may need to submit a cancelled check from your NRE or NRO bank account.
• OCI/PIO Card: If applicable, provide a copy.
• Similarly, you will submit a copy of your valid passport and a valid VISA copy of your work, student, employment, or resident permit.
• PIS letter from the bank, a recent passport-size photograph.
• The Account Opening Charges Cheque and Demat Opening Fee Cheque are other documents.

Please note: In exceptional circumstances, some users aspiring to open a Groww non-resident Indian account might be required to present more documents.

Groww NRI Account: Top Features

Let’s catch a glimpse of the features a user of Groww for NRI services will access:

• Groww provides a comprehensive suite of services, including demat, trading, futures and options (F&O), and IPO services. This wide array of offerings caters to diverse investment needs.
• The accessibility of Groww Account extends across various platforms, including an Android app, an iOS app, and a web trading platform. This multi-platform presence ensures users manage investments seamlessly.
• With some of the industry’s most reasonable charges, Groww users can engage in equity options, futures, and delivery trading, all while keeping costs in check.
• From equity options and futures to equity delivery and mutual funds, Groww Account covers a broad spectrum of investment avenues.
• At its core, Groww Account stands out for its user-friendly design and ease of use. It provides a convenient platform for NRI investors, offering simplicity without compromising.

Check out Business Opportunities with Similar Brands

Zerodha NRI Account

Upstox NRI Account

Espresso NRI Account

Angel One NRI Account

ICICI Direct NRI Account

5Paisa NRI Account

HDFC Sky NRI Account

Kotak Securities NRI Account

IIFL Securities NRI Account

Motilal Oswal NRI Account

The Groww NRI Demat Account is a versatile platform offering various products catering to investors. It covers multiple investment avenues with features like equity delivery, options, and futures.

This makes it a comprehensive choice for those looking to trade and invest in the stock market.

The user-friendly interface enhances the overall experience, making it suitable for both beginners and experienced investors.

However, excluding equity intraday, commodity futures and options, and currency options and futures might disappoint some users.

The Groww NRI Trading Account offers comprehensive services for aspiring investors.

With demat, trading, F&O, and IPO services, it ticks all the essential boxes for those looking to manage their investments through a reliable broker in India.

The platform ensures that all its investors have access to a seamless and diverse array of financial tools, making it a promising choice for anyone seeking a well-rounded trading experience.

Yet most services are only accessible to local users.

For all non-resident Indians (NRIs) seeking seamless assistance with their investments, Grow NRI Support emerges as a reliable go-to resource.

With a dedicated NRI Customer Care Number and responsive email support, accessing help is just a call or message away. The user-friendly website support ensures a smooth online experience.

Moreover, Groww extends its support across social media platforms, offering assistance through Facebook, Twitter, and Telegram. For quick access, find the relevant links on the page.

The Groww NRI App and Groww NRI Trading Platform make investing easy, especially for beginners. Here’s why it’s worth checking out:

• Firstly, the Groww Android and iOS apps are a breeze to use. Whether on your phone or tablet, navigating the app is smooth and straightforward.
• If you prefer trading on your computer, Groww’s web platform makes it convenient for users who like to manage their investments on a bigger screen.
• Groww doesn’t just stop at trading; it’s also an excellent platform for mutual fund investments. Everything you need is right there at your fingertips.

No matter where you are, Groww is there with you. With mobile and web options, your investments are just a click away from accessing your portfolio and related services through Groww.

The broker is ensuring you’re always in control.

The Groww NRI Account needs to improve its research and advisory services. Unfortunately, some desired features, like Groww Advisory for NRI, are unavailable.

This limitation may pose a hurdle for NRI investors seeking guidance and insights into their investments. Groww’s user-friendly platform and investment options are commendable.

For a great investment experience, especially for NRI users, exploring platforms offering a broader range of services is advisable.

Groww NRI Charges

Groww, the investment platform, caters to its users with a straightforward fee structure.

But for those who are unclear, here’s a brief breakdown of Groww’s hidden charges for NRI, which are beyond the broking app’s control.

• Firstly, there are SEBI Turnover Charges: Rs. 10 per crore is levied by SEBI across all segments and keeps an eye on your turnover.
• DP Charges: Stands at Rs. 13.5 per Scrip, applicable only when selling.
• GST: 18% on brokerage, SEBI, and transaction charges are mandatory in India.
• Luckily, bidding farewell is free. You can close the Account for free, and account reactivation is also free.

Check out Business Opportunities with Similar Brands

Sharekhan NRI Account

SBI Securities NRI Account

Paytm Money NRI Account

HDFC Securities NRI Account

Axis Direct NRI Account

Choice Broking NRI Account

Geojit NRI Account

Nuvama NRI Account

MarketWolf NRI Account

Fyers NRI Account

Open Free NRI Account Now!

Invest with Lowest Brokerage

Submit

Loading...

Thank you for sharing your details, We will connect with you Shortly!

Groww NRI Account Review – Conclusion

The Groww NRI Account Review underscores that the online stock broker presents a user-friendly and transparent investment platform.

With reasonable charges, including free account closure and reactivation, it seamlessly caters to the needs of non-resident Indians.

However, it’s worth noting that the broker is not currently serving NRIs. Only Indian residents can access the platform’s services.

FAQs on Groww NRI Account Review

Here is the list of FAQs related to the Groww NRI account.

How do you convert Groww’s account to NRI?

To convert your Groww account to NRI, you must provide the requisite documents in the article. You can also speak to the customer care team for further details.

What is AMC for NRIs in Groww?

The AMC for Growws for NRIs is 500 INR plus 18% tax.

What is Account Opening Fees for NRIs in Groww?

The account opening fee for the NRI account is 500 INR.

Which Assets are Restricted for Trading in Groww for NRIs?

NRIs are restricted from engaging in investments like currency derivatives and commodities.

Additionally, unlike resident Indians, NRIs are prohibited from intraday trading on the Indian stock markets. Their involvement is limited to taking delivery of shares.

Can an NRI invest in a Mutual Fund in Groww?

The NRIs can invest in Mutual funds if they adhere to FEMA norms. They need to follow the FEMS guidelines for investing and trading activities in India.

What is the Brokerage for Groww NRI?

Experience commission-free trading on Equity Delivery and Direct Mutual Funds with no brokerage fees.

For Intra-day and F&O, enjoy a flat Rs 20 per trade. Open an Instant Account now and commence trading today.

Can Groww’s NRI Account be opened online?

Yes, you can open Groww NRI account online. To do so, click the tab at the bottom of the page called “open NRI account. The following instructions will be provided onscreen.

What is the Helpline Number for Groww NRI?

To contact Groww’s customer support, kindly email them at [email protected], and your concern will be addressed promptly.

Alternatively, you can contact their customer care hotline at +91-9108800604. The customer support team at Groww is accessible around the clock, ensuring assistance whenever needed.

Which documents are required to open a Groww NRI Account?

Eligible Non-Resident Indians (NRIs) must provide the following documents:

1. Complete the application form.
2. NRI’s passport copy.
3. Residence permit or visa from the NRI’s country of residence.
4. Salary slips issued by the employer.
5. Two to three recent passport-sized photographs, as specified by the financial institution.
6. Documents related to money remittance.