How to Transfer Shares from Zerodha to Groww?

Table of Contents

How to Transfer Shares from Zerodha to Groww?

CDSL Registration Completion

Login to CDSL Easiest

Charges to Transfer Shares from Zerodha to Groww

Conclusion

Are you planning to transfer shares from Zerodha to Groww? Zerodha stands out as the top broker due to its diverse range of trading products, excellent trading platforms, a solid brand reputation, and the option to access third-party trading products. However, for investors primarily focused on mutual funds, Groww emerges as the preferred choice. Groww offers a user-friendly and transparent platform specifically tailored for direct mutual fund investments, all at zero charges. Its simplicity and ease of use make Groww an appealing option for those seeking hassle-free and cost-effective mutual fund investments.

Read and know about the process to transfer shares from Zerodha to Groww.

Open an account in Zerodha.

Before you know how to transfer shares from Zerodha to Groww, you might like to check out our article on Zerodha Account Opening – Pros and Cons.

How to Transfer Shares from Zerodha to Groww?

You have to complete a few steps in order to transfer shares from Zerodha to Groww:

CDSL Registration Completion

Before proceeding with the registration for Myeasi on cdslindia.com, ensure you have the Client Master report containing your client ID and Demat account details from Zerodha, the broker with whom you hold a Demat account. Then, you have to follow these steps:

1. Keep the CMR received from Groww readily accessible.
2. Once ready, visit cdslindia.com and select “Login to-New system Myeasi (BO/CM)”.
3. Click on “To register for easiest click here” and provide your Client ID and DP ID (remember, these are from your external broker Zerodha, not Groww). Note that the first eight digits of your Demat number match your DP-ID, while the next eight digits align with your Client ID.
4. An OTP will be sent to your registered mobile number. Enter the OTP and click “Continue” to proceed.
5. Fill in the required details and select the account type as ‘Trusted Account (PIN)’ to complete the process.
6. Next, you will be prompted to provide your Trusted account information, which refers to the details of the broker to whom you are transferring your shares – in this case, Groww, as you wish to transfer shares from Zerodha to Groww. Specifically, you need to enter your 16-digit Groww Demat account number, which can be found in the CMR copy sent to you or in the personal details section of the Groww app. It begins with the digits 120887.
7. If you possess holdings in multiple Demat accounts, you would have received corresponding Demat account numbers from each broker during the account opening process. At this point, you can input the Demat account details for each of these brokers. In order to add multiple entries, you have to simply click on the ‘+’ sign. It is important to note that you can only add details of brokers registered with CDSL, and you are allowed to include up to four such entries.
8. After adding all the desired accounts to transfer shares from Zerodha to Groww, click on Continue. The provided details will be verified by the brokers (depository participants), and once authenticated, you will receive a confirmation of registration. With the completion of registration, three consecutive emails will be sent to you by CDSL. The first email will confirm the registration approval, while the next two emails will contain your login credentials, including the password, Login ID, and PIN.

Login to CDSL Easiest

These are the steps to follow before you can transfer shares from Zerodha to Groww:

1. To begin, access the CDSL Easiest platform at https://web.cdslindia.com/myeasi/home/login using the provided login credentials.
2. Once logged in, navigate to the Transaction tab and choose the Setup option for transferring stocks through Easiest.
3. Within the Transaction Setup, opt for the Bulk Setup feature. Then, utilize the “+” icon to input the ISIN, quantity, and reasons for off-market transfer.
4. Once all necessary details are entered, click on the SUBMIT option to proceed.
5. Upon verification, choose the option COMMIT and type in the OTP PIN that you get on the mobile number that you have registered.
6. Once you enter the OTP, the Off-Market Transaction request will be finalized on your part and only requires authentication from Groww. Upon completion of the authentication process, you will receive communications from CDSL and the team. Once everything is verified, your external holdings will be visible on the Groww dashboard. You can successfully transfer shares from Zerodha to Groww.

Charges to Transfer Shares from Zerodha to Groww

When you wish to transfer shares from Zerodha to Groww demat account, you will incur a charge of Rs 15.93 per company. For instance, if your portfolio consists of 10 shares of company A, 25 shares of company B, and 2 shares of company C, the total charge for the transfer would be calculated based on the number of companies in your portfolio, which is 3 in this case.

Therefore, the transfer charge would amount to 3×15.93, totaling Rs 47.79. It is important to note that this charge applies per company and not per share. To proceed with the transfer shares from Zerodha to Groww process smoothly, ensure that you have the specified amount (Rs 47.79) in your Groww balance; otherwise, the transfer request may be rejected.

Open an account in Angel One.

Take a break from how to transfer shares from Zerodha to Groww, and check out our Angel One Vs Groww Comparison article.

Conclusion

The process to transfer shares from Zerodha to Groww can be seamless, with a few simple steps. By following the necessary procedures and ensuring that all prerequisites are met, investors can easily migrate their share holdings from one platform to another. It is crucial to initiate the transfer request with Zerodha and complete any required documentation accurately. Once the shares are transferred, investors can leverage Groww’s user-friendly platform and take advantage of its specialized features for managing their share portfolio effectively.

With careful planning and execution, the transfer process of transfer shares from Zerodha to Groww can open up new possibilities and provide you with a seamless transition to a different trading experience.