Minor Demat Account Opening Online

As per SEBI guidelines, a minor’s demat and trading account can be opened for any individual below the age of 18 years (in India).

Simply open a minor demat account in your minor child’s name. Start investing in mutual funds, stocks, and the like through this minor demat account.

To open a demat account for a minor following documents are required:

When you open a minor demat account, you will require the following documents:

  • PAN details of the guardian
  • PAN details of the minor
  • Proof of Birth of the minor
  • Proof of identity of the minor
  • Proof of address of the minor

The guardian needs to submit the required form properly filled out with the KYC details of both the guardian as well as the minor.

Once the details are verified, the DP will issue a client ID and account number.

When the Minor reaches 18 years of age

When the minor reaches the age of 18, he or she must submit a request to his or her registered broker to convert the minor demat account into a major demat account.

The following documents are required to convert a minor account into a major account:

  • Pan Card
  • Address Proof
  • Bank Statement
  • Passport-size Photographs

Once the documents are validated, the guardian’s credentials will be replaced by the minor’s (now the major’s) information.

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    Can I open a demat account for a minor?

    Yes, you can open a demat account for a minor, given the fact that you are the parent or guardian of the minor. However, there are specific steps you must take when opening a minor demat account online through a stock broking firm like SMIFS.

    What Happens to the Demat Account When a Minor Turns Major?

    When a minor reaches the age of 18, he can choose the following two options:

    Close his/her Minor Demat Account and set up a new Demat Account: Here, the previous minor account can be closed and a new major Demat account can be created. All securities from the minor account can be shifted to the newly opened major account.


    Convert his/her minor demat account into a major demat account: The existing minor accounts can also be used. A minor who becomes a major needs to sign a new agreement with the DP and complete all processes for opening a new demat account. In such a case, the guardian’s credentials need to be replaced with that of the major (previously, a minor).

    What are the Benefits of a Minor Demat Account?

    A minor Demat account enables parents/guardians to better handle their children’s financial future. As a result, you can utilise this account to save for your children’s college expenses, marriage, job relocation, and so on.

    Can I do trading in a minor demat account?

    Yes, if you are the parent/guardian of the minor, then you can trade through your child’s minor demat account.

    Can I sell shares from a minor demat account?

    A minor is not allowed to trade from his/her minor demat account. However, if you are the guardian of the minor concerned you could move shares from your minor demat account to your Guardian demat account and then sell them.

    Can a minor demat account be opened online?

    Yes, a minor demat account can be opened online, with a trusted brokerage firm like SMIFS. However, the minor’s PAN and AADHAR should be made before creating an account. If the juvenile’s Aadhar is not linked to a mobile number or if the minor does not have an Aadhar, the account can only be opened offline. If the mobile number is linked, the minor account can be opened online.

    What are the limitations in a minor demat account?

    There are a few restrictions when opening a minor Demat account. First off, a minor is unable to independently manage a Demat account. To open a minor Demat account, the stockbroker will need the documentation of a parent or legal guardian. Secondly, a minor’s Demat account can only be used for trading in equities; minors are not permitted to trade currency or equity derivatives or engage in intraday equity trading. Thirdly, an online trading account cannot be connected to a minor’s Demat account.

    Can I close a minor demat account before my kid turns an adult?

    Yes, you can close a minor account before your kid turns an adult.

    What is the minimum age for minor Demat account?

    Investing in the Indian stock market has no age restrictions. You can open a Demat account as an adult or as a minor to trade in the stock market.

    Can I transfer stocks to my daughter/son?

    Yes, you can transfer stocks from your demat account to your child’s minor demat account