Who can be appointed as a guardian for a minor's Demat account?
A minor cannot legally operate a Demat account, so a guardian must be appointed to manage the account until the minor turns 18. The appointment of a guardian follows specific rules set by depositories (NSDL/CDSL) and applicable regulations.
Guardian eligibility for minor accounts
Only specific individuals can be appointed as the guardian of a minor’s Demat account:
- Father: Recognised as the natural guardian by default.
- Mother: May act as the guardian in the absence of the father or with joint consent.
- Court-appointed guardian: In the absence of both parents, a legal guardian appointed by a court of law can act on behalf of the minor.
The guardian must submit proof of relationship (e.g., birth certificate) and identification documents as part of the account opening process.
Guardian account requirement
To open a minor Demat account with FYERS, the guardian must have an active FYERS Demat account. This is a mandatory prerequisite because the guardian’s KYC and account linkage are used to operate the minor’s account.
To open an account with us, refer to our account opening procedure.
The guardian and the minor cannot be two different entities across brokers. The guardian's FYERS Demat account is mandatory for operating the minor's FYERS Demat account.
What If...
| Scenario | Outcome |
|---|
| The father is deceased or unavailable | The mother can act as the sole guardian with valid proof |
| Neither parent is available | A court-appointed legal guardian must provide valid court orders |
| The guardian does not hold a Demat account with FYERS | A new Demat account must be opened with FYERS before applying for the minor’s account |
Last updated: 05 Aug 2025
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