To open a Demat account with Angel One for a minor, the account must be opened by the guardian (usually a parent) on behalf of the minor. The guardian will manage the account until the minor turns 18. The process includes filling a minor account opening form and submitting documents for both the minor and the guardian.

What is the process to open a Demat account with Angel One as a minor?

Here is the simple process to open a Demat account for a minor with Angel One:

1. Download the minor Demat account opening form from Angel One.
2. Fill the form with the details of the minor and the guardian.
3. Attach PAN card and birth certificate of the minor.
4. Submit PAN card, Aadhaar, photo, and bank proof of the guardian.
5. Write a declaration stating the guardian is acting on behalf of the minor.
6. Courier all signed documents to Angel One's head office for verification.

The account will be opened in the name of the minor, but operated by the guardian until the child turns 18 years old.

What documents are needed for a minor Demat account?

Here is the list of documents required to open a minor account with Angel One:

• PAN card of the minor
• Birth certificate of the minor
• Photograph of the minor
• PAN card of the guardian
• Aadhaar card of the guardian
• Bank proof of the guardian
• Guardian’s signature on all documents

All documents should be self-attested by the guardian and submitted together.

Can a minor buy and sell shares?

A minor can only hold shares in a Demat account. They are not allowed to trade or buy/sell shares until they become adults. However, the guardian can manage the investments by applying for IPOs or receiving shares through gift or transfer.

What happens when the minor turns 18?

When the minor turns 18, the account needs to be converted to a regular individual account. The minor must complete KYC in their own name and submit identity and address proof. After that, they can buy, sell, and trade shares on their own.

Can a minor invest in IPOs and mutual funds?

Yes, a minor can invest in IPOs and mutual funds through their guardian. The guardian applies on behalf of the minor, and the investments are held in the minor’s name. This is a great way to start early investing for your child’s future.

Why open a Demat account for a minor?

Opening a Demat account for a minor helps build a financial base for the future. Parents can invest on behalf of their children and grow wealth over time. It is also a good way to teach children about savings, investing, and managing money.