Minor demat accounts with Zerodha

Zerodha
1

@VenuMadhav @nithin @siva

How many minor demat accounts (status active) does Zerodha DP have till date?

2

We open minor accounts on special requests like when a guardian/parent wants to hold some assets in the minor’s name, or for dematerialization, or when the nominee is a minor and the account holder has passed away. However, we don’t open trading accounts for minors in any case.

1 Like
3

@VenuMadhav

Thanks. I wanted to know How many minor demat accounts does Zerodha DP have till date?

4

We have a few accounts, I wouldn’t know the accurate number though.

5

Hello,

Can i open an account in my son’s name, he is just a toddler however i want to invest like a thousand rupees per month in his account probably on nifty bees or probably some bluechip stocks. (I know there are other options to invest, however the amount is not so big and just wanted to buy few shares of Nifty stocks)

Can we do that?

Kindly advise

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6

Can you check and let me know please?

7

Hey Vikram,

We can open a demat account for your kid. However, you’ll have to setup an SIP from your account, the units will be credited to your demat account and you would have to transfer this to the minor’s account through off market.

8

If there’s a concern, please let me know and we’ll address it. Wouldn’t be able to give out business specific details.

9

Hey VM1,

Thanks, could you please advise how to go about this ? Can you email the details to me ? Also the charges associated with it and Is it feasible cost wise ?

10

There’s more here

Off market charges would be 3 bps.

1 Like
11

@VenuMadhav Please confirm on IPV process of minor account.

12

IPV of the guardian will be done, not of the minor.

13

@VenuMadhav Thanks. Also let me know whether guardian KYC form needs to be filled or not if Guardian KYC is already done & valid.

14

KYC needn’t be filled if Guardian is already KYC verified. A demat application form to open the demat account in the name of the minor will have to be given.

15

Navi Mumbai partner branch is insisting on filling guardian KYC form too. what should i do?

16

@VenuMadhav

Last questions sir :wink:

What are demat account opening charges? (Only demat…no trading acc as minor)

If charges, can we pay online?

Minor also charged for account opening?

17

Please create a support ticket and this will be looked into by the concerned team.

18

Rs.200 is the demat fee, you may enclose a cheque with the account opening form.

Correction 31.12.2019: Rs.300 is the advance AMC collected on opening a minor’s demat account.

19

In that case AMC should be zero for BSDA account right?

20

There’s no way for us to know at the time of account opening if the demat account qualifies to be a BSDA. If at the end of the billing period (1 year), the account status is BSDA, the AMC will be refunded.