a) Demat account can be opened in the name of a minor child by the natural guardian (parents) or court-appointed guardians only.
b) The guardian needs to fulfill all requirements for documents and KYC norms to open the account in the name of the minor.
c) A minor cannot be a joint holder in a demat account. The demat account can be held only in the name of the minor.
d) Date of birth of the minor is mandatory required, with proof. The account becomes inoperative when the minor turns major.
e) On attaining major status, a new demat account needs to be opened after completing all documentation. The erstwhile holdings can then be transferred to the new account.
f). If shares are held jointly with a minor in paper form, they need to first be transferred to the minor and then to the demat account in the minor’s name.
How to open an account in the name of a minor, is it possible to open it online? If yes then how If not then attach offline form link. And as you commented earlier that the trading account will be in the parent’s name so how is it possible?
Thank you for your interest in opening an account with us and sorry to inform, the minor account cannot be opened online. You may call us at 022-61208000 or register yourself in the link. Our executives shall help you to open an account.
CAN SHARE TRADING A/C BE OPENED IN THE NAME OF MINOR ? IF YES ,WHAT IS THE PROCEDURE
Only demat account can be opened in the name of minor. Trading account will be in the name of guardian. For more information kindly contact us on 022-61208000.