I believe depository allows to check while account opening on PAN basis, also i have ticked YES for BSDA in form.
To open a minor demat account, does guardian needs to have Trading account with Zerodha only ?
Guardian can have trading account anywhere.
Within the same depository yes, but if thereās another account in the other depository (NSDL), then the option to convert account to BSDA will not be available.
I heard now the MINOR account can be open online by using the Guardian KITE credentials? Is that right?
If yes then what are the documents required for opening the MINOR Demat?
Yes, you can open the minor demat account online. You can check out the process and required documents here.
No. One can not open demat account for minor online. It is clearly stated in support portal that minor account must be open offline by sending required forms along with necessary documents mentioned therein.
@ShubhS9 @VenuMadhav What happens to the minorās demat account when they become major? Will there be additional documents required for the conversion? Can they go ahead and sell securities? Please clarify. Thanks!
When a minor turns major (18 years old), a fresh KYC will have to be carried out, and the minor account must be converted to an individual account. You can check the process here: How can a minor account be converted to an individual account?
@ShubhS9 I donāt have any account in Zerodha also currently not planning to open an account with my name. Can I open minor account offline for my kids (two minor account) with same mobile and email id.
Yep. You can open minor accounts offline in this case. Also, can you same number for both. You can check out the process here: How to open a minor account online and offline at Zerodha?.
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hi, Can you please elaborate on this? I need to open a minor acc for kid. Sheās 2yr 8 months now. I need everything on tat account to on hold till she turns into major. Pls guide me on this, thanks in advance
@ShubhS9 I opened my Zerodha account and minor account with same mobile number and email id. When trying to gift stock from my account to minor account itās showing error while expecting the giftā¦ Gift request creator can not claim the giftā¦ Is it not possible to transfer gift if mobile and email id is sameā¦
The gift will go through as long as the sender and receiver user IDs are different. Please ensure youāre logged in to the minorās account while accepting the gift. If itās still not happening, DM your details, and weāll get in touch.
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