What is the procedure to open a minor account in FYERS?

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:


  1. Log in to the My Account Portal and go to the ‘Manage Account’ option; you’ll have an option of ‘Open Minor Account.’ Click on the ‘Open Account’ to initiate the process of minor account opening as displayed in the image below:



  1. You’re required to upload the PAN of your child and enter the relevant details such as Gender, Mother’s name, etc. and Click on ‘Continue.’



3. Under contact information, you're required to upload the proof of address of the child whose account is being opened.



4. Enter the bank account details of your child and upload six months bank statement. 


5. The Equity and Mutual Fund segments will be selected by default as the minor is not allowed to trade in any other segments. Click on ‘Continue’.



6. Under Nomination and Declaration, ‘I do not wish to nominate’ option will be selected by default as the minor cannot appoint nominee/s.


7. Complete your child’s In-Person Verification through OTP and upload the latest photo.


After uploading the photo, you (guardian) are required to upload your signature as displayed in the image below:

8. Once all the above details are submitted, Click on ‘Proceed to E-Sign.’


You need to complete the E-Signing process using your (guardian) Aadhaar Card.

9. Upon completing the E-Signing process, your child’s account will be opened in 24-48 hours provided the details are acurate.


Points to be remembered:

  • The communication details such as the mobile number and email address will be of the guardian.

  • The minor cannot buy shares/mutual funds in this account. However, a minor can sell the shares and mutual funds received via Gift or IPO.

  • As per the SEBI guidelines, a minor cannot nominate anyone.


    • Related Articles

    • What are the documents required to open minor Demat account with FYERS?

      To open a minor Demat account with FYERS online, ensure you have the necessary documents on hand. Here's what you'll need: Minor's PAN card Minor's Aadhaar card or passport Birth certificate of the minor or 10th marks card A cancelled cheque or a ...

    • Can a minor open a trading account with FYERS?

      No, minors can't directly open a trading account. However, as a guardian, you can open a Demat account in the name of a minor. Once the account is active, you have the option to transfer securities from your account to the minor's account, either as ...

    • Can I open my minor child's account if I don't have a Demat account in FYERS?

      To initiate the process of opening a Demat account for your minor child with FYERS, you, as the guardian, must have an active Demat account with us. If you haven't set up a Demat account with FYERS yet, click here. For a detailed understanding of how ...

    • Can a minor with foreign citizenship but Indian parents open a Demat account with FYERS?

      Unfortunately, a minor with foreign citizenship can't open a Demat account with FYERS. This is due to the requirement of both address proof and PAN (Permanent Account Number) for the minor account opening. Currently, only Indian citizens can open a ...

    • Can NRIs open an account with FYERS?

      Yes, Non-Resident Indians (NRIs) can easily set up an NRI account with FYERS, thanks to our streamlined process that minimizes paperwork. To open an NRO Non-PIS Account, you will need to provide the following documents, each duly attested by a ...