Can a minor invest in mutual fund segment?
Yes, minors can invest in mutual funds at FYERS. Their Demat and bank accounts must be operated by a guardian, who will manage the account until the minor reaches adulthood. Additionally, minors can invest in mutual funds through FYERS Direct, providing an easy and convenient option for investment.
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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 ‘Minor Account’ ...
What are the fees associated with a minor's account?
Setting up a minor demat account at FYERS is completely free, making it easy for guardians to start early investments for their children. There are also no annual maintenance charges, keeping long-term holding cost-effective. Are there any fees ...
Are NRIs permitted to trade in the commodity segment?
Currently, Non-Resident Indians (NRIs) are not permitted to participate in the commodity trading segment in India. This restriction is enforced by Indian regulatory authorities to ensure adherence to the Foreign Exchange Management Act (FEMA) and ...
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 ...
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 ...