Minors
What are the documents required to open minor Demat account with FYERS?
To open a minor Demat account with FYERS online, ensure you have the necessary documents on hand. Here's what you'll need: Minor's PAN card Minor's Aadhaar card or passport Birth certificate of the minor or 10th marks card A cancelled cheque or a ...
How to sell holdings through a minor's Demat Account?
You can certainly sell holdings from your minor child's Demat account using the FYERS platforms. To carry out this process through the Electronic Delivery Instruction Slip (EDIS), please follow the steps below: Log in to your minor's FYERS account ...
Can a minor with foreign citizenship but Indian parents open a Demat account with FYERS?
Unfortunately, a minor with foreign citizenship can't open a Demat account with FYERS. This is due to the requirement of both address proof and PAN (Permanent Account Number) for the minor account opening. Currently, only Indian citizens can open a ...
Can I open my minor child's account if I don't have a Demat account in FYERS?
To initiate the process of opening a Demat account for your minor child with FYERS, you, as the guardian, must have an active Demat account with us. If you haven't set up a Demat account with FYERS yet, click here. For a detailed understanding of how ...
Is a minor Demat eligible for corporate actions?
Yes, a minor can benefit from all corporate actions in his/her Demat account. These corporate actions include dividends, buybacks, rights issues, bonus issues, and stock splits. Note: While the Demat account is in the minor's name, it is managed by ...
Can a guardian oversee multiple minors' Demat accounts with FYERS?
Currently, only one minor account can be associated with one guardian account at FYERS. However, you're allowed to be the guardian for the Demat accounts of two or more minors, as long as they are your children.
Who can be appointed as a guardian for a minor's Demat account?
The guardian for a minor's Demat account should ideally be the father. However, in his absence, the mother can act as the guardian. In the absence of both parents, a guardian can be appointed by the court.
Is a minor eligible to apply for an IPO?
Yes, a minor can apply for IPOs. The application process remains the same as for a regular Demat account holder. For a detailed step-by-step guide on the application procedure, please refer to this article.
What are the fees associated with a minor's account?
For the minor's Demat account, there are no account opening charges, and we also do not levy any Annual Maintenance Charges (AMC). However, DP (Depository Participant) charges amounting to 12.5+GST will apply when selling Equity or Mutual Funds.
What happens to a minor's Demat account when the minor becomes major?
Once a minor reaches the age of majority, the Demat account doesn't automatically transition to an adult account. To keep it operational, we recommend the individual declares the balance and resubmits their KYC details, completing the e-signing ...
Can a minor invest in the equity and mutual fund segment?
No, minors can't buy equity shares or mutual funds in their Demat account. However, they can sell shares and mutual funds they've received through: Gifts Donations Inheritance Initial Public Offerings (IPO) Corporate actions Off-market transfers, ...
Can I open a Demat account for my relative's minor child?
No, you can't open a Demat account for your relative's minor child in your capacity as a guardian. The account should ideally be opened by the child's father or mother. Note: If both parents are absent, a legal guardian appointed by the court can ...
Can minors trade in futures and options with FYERS?
No, they can't. As per SEBI guidelines, minors are prohibited from trading in the following segments: Equity Intraday Currency Derivatives Equity Derivative Commodity Derivatives. When you initiate the process of opening an account for your child ...
What is the procedure to open a minor account in FYERS?
You, as a guardian, can now open your child’s Demat account with us, which is entirely online and paperless, provided you have a Demat account in Fyers. The procedure to do so is as below: Log in to the My Account Portal and go to the ‘Manage ...
Can a minor open a trading account with FYERS?
No, minors can't directly open a trading account. However, as a guardian, you can open a Demat account in the name of a minor. Once the account is active, you have the option to transfer securities from your account to the minor's account, either as ...
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