Can I open an account for my relative's minor child?
No, you cannot open your relative’s minor child’s Demat account as his/her guardian. The minor account is required to be opened by the child’s father or mother.
Note: In the absence of both the parents, the child’s account can be opened by the guardian appointed as per the court.
Can a minor open trading account at Fyers?
Yes, As a guardian, you could open a Demat account in the name of a minor, and can transfer the securities from your account to your child’s account as a Gift/Donation or transfer between family members. Check out this article for the procedure to ...
Can I open my minor child's account if I don't have a Demat account in FYERS?
No, it is mandatory for you as the guardian to have an active Demat account in FYERS to initiate the account opening process for your minor child. If you do not have a Demat account with us, click here to open your account in 5 minutes. For the ...
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 foreign citizen child with Indian parents open a Demat account in FYERS?
No, a foreign citizen child cannot open a Demat account as it is mandatory to submit both address proof and PAN for the Minor account opening. Only Indian citizens are allowed to open a minor Demat account in India.
Will the minor’s demat account be operational if the child becomes major?
Once the child becomes major, his/her Demat will be operational provided the child declares the balance in his/her account and also should re-submit the KYC details along with the e-signing process.