Can a demat account be opened in the name of a minor

Demat account can be opened in the name of a minor by the natural guardians (Parents) or court appointed guardians.

As a guardian you will have to fulfil all requirements for documents and KYC formalities. Proof of date of birth of the minor is a mandatory requirement.

Please also note that the Demat account becomes in-operative when the minor turns major. A separate account need to be opened when the minor turns major.

The income during this period (prior to the minor turning major) will be clubbed with the guardian’s income.