Dear Team,
I wish to open a MF account on my daughter’s name with Zerodha. Can you please help with the process!
A guardian can legally open and operate a minor Demat + Trading account.
Docs required: 1 KYC for minor + 1 KYC of guardian. PAN, Address proof of guardian. Joint bank account proof(1-month bank statement or passbook copy) of minor and guardian. Birth certificate of minor.
Purpose of minor account: Invest in equity, IPOs and mutual funds. You cannot trade intraday or derivatives in a minor account.
Validity of account: Only till the minor turns major after which it becomes inoperative. The new major has to then open a major Demat account and have all units transferred.
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