Home >Money >Personal Finance >Groww removes account maintenance charges on demat account

Millennial-focused investment platform Groww has waived account maintenance charges 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 came into effect from November 23.

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 20 or 0.05% of the order value, whichever is lower.

"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," says Lalit Keshre, Co-founder and CEO - Groww.

The company launched stocks investing on its platform in June 2020 and has recorded more than 6 lakh demat accounts within a short span, as claimed by Groww. 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.

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