Welcome investors! Would you wish to bring together your comprehensive holdings for more efficient trading? This is a perfect way of managing everything at once by transferring the NSDL shares into your Groww Demat account. Here’s an pleasing step by step guide to help you in transferring. Before that note that your current NSDL broker and Groww broker will give you a Client Master Report (CMR).
Online process
Step 1: Register for CDSL’s easiest facility.
- Go to the CDSL or NSDL website and sign up for either the ‘Easiest’ or ‘Speed-e’ facility.
- Register: Click ‘To register for the easiest click here’.
- Enter details: Please enter your Client ID and DP ID from your NSDL account.
- Verify: An OTP will be issued to your registered mobile number. Enter the OTP to proceed.
- Select Account Type: Choose ‘Trusted Account (PIN)’.
- Add the Groww Account: Fill in your Groww Demat account number (16-digit number) from either your Groww CMR or the personal details section of the Groww App itself.
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Step 2: Complete Registration
- Submit Details: Once all required information has been filled, submit the form. The brokers will validate it and you shall receive confirmation emails with details on how to access it.
Step 3: Transfer shares
- Navigate to Transactions: After logging in, select the Transaction tab and then choose Setup for share transfer.
- Submit Details: After putting in required information click on SUBMIT.
- Confirm using OTP: Complete your request by entering One Time Password issued on registered mobile number.
Step 4: Authentication
- Authentication and Verification by Groww. After you submit it, Groww will authenticate your transfer request.
- Confirmation: Once it is done, there will be an acknowledgement from both NSDL as well as Groww itself.
- Check Holdings; Your shares are now on your Groww dashboard.
Note
- It costs Rs 15.93 per business not per share when transferring shares. Make sure you have sufficient funds in your Groww account to cover this expense.
- All requests received after 15.30 hours shall be processed next working day. No requests will be processed on Saturdays and during holidays.
- Keep all documents like share certificates or transfer deeds etc., safe for reference later.
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Offline Process
It is easy to take your shares from your NSDL account to Groww through the offline process. Below is a step by step guide that you can follow:
Step 1: Get a Delivery Instruction Slip (DIS)
- The DIS comes along with the welcome kit of the Demat account when you open it. It is this document that you will need in order to transfer shares.
Step 2: Fill Out The DIS Form
- Enter the 16-digits code for your Groww Demat Account here, which is also your BO ID.
- You have to provide ISINs of all securities you want to move, each containing twelve digits. In addition, state how many shares are being moved.
- Put down the name of Depository Participant under whom shares are currently held.
- Tick if transferring across different depositories e.g. from NSDL.
- Use this field for transfers within the same depository, but leave blank since these are moving across depositories.
Step 3 – Sign and Submit DIS
- Complete and sign on the DIS form. Afterward submit it to your present broker.
- Ensure that once completed, an acknowledgment receipt is given back by the stockbroker.
Step 4 – Wait until Transfer Completion
- Your broker will process the transfer, which typically takes a few days. Once completed, your shares will appear in your Groww Demat account.
Conclusion
Transferring shares from an NSDL account to Groww can be done easily both offline and online. For offline transfers, complete a Delivery Instruction Slip (DIS) and send it to your current broker.
To make an online transfer, you must first register for CDSL’s or NSDL’s ‘Easiest’ service, then fill out the necessary information and submit it for verification. The process guarantees that your shares are transferred seamlessly, allowing you to consolidate your holdings and better manage your investments.
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