Can a guardian open and manage multiple minor Demat accounts with FYERS?
No. A guardian can be mapped to only one minor Demat account with FYERS. This one-to-one mapping ensures clear legal responsibility and traceability. Each minor account must have a single guardian, and a guardian cannot be linked to more than one minor.
Minor account rules for guardians
- We allow one guardian for one minor Demat account. A guardian cannot manage multiple minor Demat accounts.
- Each minor account is opened and managed independently with its own mapped guardian.
- The guardian must complete a separate application and documentation for each minor account. If the same guardian is already mapped to another minor, the new application will be rejected.
Joint guardianship or shared guardianship is not permitted. One guardian can be mapped to one minor as per FYERS policy.
For complete minor account setup instructions, refer to our minor Demat account opening procedure.
Each minor Demat account is managed individually. Authorisations, documentation, and portfolio activity are not shared between accounts, and a guardian can be mapped to only one minor.
What If...
| Scenario | Outcome |
|---|
| A guardian has two children and wants to handle both | Not allowed under the one-guardian–one-minor rule |
| The guardian is acting for unrelated minors | Not permitted; accounts must be for the guardian’s own ward as per eligibility |
| The guardian tries to link multiple minors to one application | Rejected; each account must be opened independently, and one guardian can be mapped to only one minor |
Last updated: 28 Nov 2025
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