What is the procedure to open a minor account in FYERS?
Guardians can open a minor Demat account through FYERS. The process is entirely digital and requires the guardian to have an active FYERS Demat account. The minor’s account will be operated by the guardian until the child turns 18.
Step-by-step process to open a minor account
Here are the steps to follow:
- Log in to the FYERS My Account portal
Go to the Minor Account section to start the application. - Enter the minor’s details
Upload the minor’s PAN and fill in personal details like gender, mother’s name, etc. Click Continue. - Upload address proof
Provide the minor’s address document (Aadhaar, passport, etc.) under Contact Information. - Add bank details
Enter the minor’s bank account information and upload a 6-month bank statement for verification. - Confirm allowed segments
Equity and Mutual Fund segments are enabled by default. Minors are restricted from trading in other segments. Click Continue. - Handle nomination and declaration
The default selection is ‘I do not wish to nominate’ since SEBI prohibits minors from appointing nominees. Complete In-Person Verification (IPV)
- Verify via OTP.
- Upload the minor’s latest photo.
- Upload the guardian’s signature.
- e-Sign the application
The guardian must complete e-signing using their Aadhaar-linked mobile number. - Account activation
If all details are accurate, the minor’s account will be activated within 24–48 hours.
The guardian’s mobile number and email will be used as the registered contact details for the minor account.
What If...
| Scenario | Outcome |
|---|
| The guardian doesn’t have a FYERS Demat account | A guardian account must be opened first |
| The Aadhaar is not linked to a mobile number | e-Sign cannot be completed; Aadhaar update required |
| Nominee details are added | Not allowed; minors cannot nominate as per SEBI rules |
| Shares or mutual funds are received via gift or IPO | The minor can sell them, but cannot initiate fresh purchases |
Last updated: 05 Aug 2025
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