Can a guardian open and manage multiple minor Demat accounts with FYERS?
A guardian may open and manage multiple minor Demat accounts with FYERS, but there are specific conditions to ensure compliance and traceability. These accounts must be opened for the guardian's children and must be managed individually.
Minor account rules for guardians
- FYERS allows a guardian to manage more than one minor Demat account, provided all the minors are biological or legally adopted children of the guardian.
- Each minor account is independently linked to the same guardian’s FYERS account.
- The guardian must complete a separate application and documentation process for each minor.
Joint guardianship or shared guardianship is not permitted. One guardian can be mapped to one minor per application.
For complete account setup instructions, refer to our minor Demat account opening procedure.
Each minor Demat account is managed individually. Transaction authorisations, documentation, and portfolio activity are not shared between siblings.
What If...
| Scenario | Outcome |
|---|
| A guardian has two children and wants Demat accounts for both | Allowed; apply separately for each child |
| The guardian is acting for unrelated minors | Not permitted; accounts must be for children of the guardian |
| The guardian tries to link multiple minors to one application | Rejected; each account must be opened independently |
Last updated: 05 Aug 2025
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