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The parents, i.e. the father or, in his absence, the mother of the minor child or the legal guardian, can open a demat account for minors with Fyers. A minor account can be opened for a child below 18 years of age with PAN card and a bank account.
Only Indian citizens can open a demat account, NRIs cannot open a demat account for their minor children.
Though the account is opened in the name of the minor, it is managed only by a parent or guardian. Parents can transfer securities i.e. shares and mutual funds from their account to the minor’s account by way of gifting or transfer between family members.
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