Hi folks,
There is no clear information from Banks regarding IPO application process for Minors. We’re visiting branches and finalizing the list. Will share it here once done. Hopefully within a week.
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That’s a good initiative from Zerodha. Please ask the banks about HUF accounts as well - especially banks which support UPI id creation and/or online ASBA with HUF PAN (not Karta’s PAN) for HUF savings accounts.
Hi…
Any update…which bank allows minor IPO ASBA facility
Apologies, we haven’t received much clarity even after speaking with a few representatives. However, we will definitely complete it this week. This week, Axis, HDFC, ICICI, and Kotak.
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Finally I ve got a good news!
After getting assurance from AU bank, I opened a minor bank account with them and applied for an IPO and application is successfully submitted (1st application as seen in below pic)
I already have Zerodha minor demat for my ~1yr old son and linked with IDFC bank, but they didnt support for online ASBA.
AU Bank told they can also offer HUF online ASBA (which they said only few are offering) yet to have a HUF to try it out!
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It’s thru netbanking or UPO??
This is ASBA/netbanking, not UPI
Have anybody tried kotak bank ? I read somewhere that kotak bank support minor account with ASBA.
If anyone have kotak bank account. Please confirm same.
Hi Nitin, please talk to bank and update. Thanks in advance
Thanks for testing it out Gowtham
Hi @vverma, visited the branch but couldn’t get clear answers. I’ve reached out to a few relationship managers, spoken to them on phone, and sent emails as requested. I’m currently awaiting responses. 
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Axis Bank:
I’m pasting the response I received from Axis below:
- Can a minor apply directly for an IPO through their minor bank account’s net banking (via ASBA)?
Minor accounts don’t have a separate Net Banking login, as they’re linked to the guardian’s bank account. Hence, the ASBA mandate isn’t available for minor bank accounts.
- Is a guardian bank account required for opening a minor bank account with your bank?
At Axis, a guardian account is required to open a minor bank account.
- Can a minor’s demat account be used to submit IPO applications through a guardian’s bank account (ASBA route)?
Depends on Minor eligible to apply for IPO. (No clarity)
- Are UPI transactions enabled for minor bank accounts?
No, At Axis minors UPI is not enabled. However Minors can have debit card after he attains Age 8 with transaction limit of Rs 2000 daily.
- Are there age-related transaction restrictions for using net banking with a minor’s ASBA account?
Guardian will be using minor net banking there’s no age restrictions, ASBA account depends on whether they are eligible to participate in IPO. Above Net banking 18 + once minors attain major he can have all access offline and Online banking without restrictions. (No clarity)
- What is the minimum balance for a minor’s ASBA account? Is a minor PAN required to open a minor bank account?
Minimum balance only to minor bank account, At Axis Minimum account Balance to be maintained is Rs 3000/- every month, PAN is not mandatory document to open minor bank account.
Children above 10 yrs can be given netbanking facility… they can also open seperate account… most of the banks allow the same
Federal
AU saying guardian ac mandatory… I don’t want to open one more ac for myself… did. U opened guardian and minor account seperately… thnx in advance
What is Minimum balance requirement
AU has 0 balance accounts available as a choice
Yes I already have AU account for myself, then opened the minor bank acc.
I have AU Ivy premium account, it has the highest min balance req in the industry 
You can anyway try the zero balance or regular savings accounts with them!
Response from ICICI Bank:
- Can a minor apply directly for an IPO through their minor bank account’s net banking (via ASBA)?
Yes, if minor PAN has been updated in Minor Cust ID.
- Is a guardian bank account required for opening a minor bank account with your bank?
Yes, Guardian Savings account is mandatory for account opening.
- Can a minor’s demat account be used to submit IPO applications through a guardian’s bank account (ASBA route)?
Yes.
- Are UPI transactions enabled for minor bank accounts?
Yes.
- Can UPI transactions for IPO applications be made from a minor’s bank account?
Yes.
- Are there age related transaction restrictions for using net banking with a minor’s ASBA account?
Combined transaction limit of Rs 25,000 in a day for net banking irrespective of age.
- What is the minimum balance for a minor’s ASBA account? Is a minor PAN required to open a minor bank account?
The minimum balance for a regular minor savings account is based on the account type. For a regular minor savings account, the Monthly Average Balance (MAB) requirement is Rs 2,500. Minor PAN is not mandatory for guardian-operated minor accounts. (Mandatory for Minor self-operated accounts)
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I think it’s for more than 10yrs old kids…@icici
With all the information above. We still dont have a clear picture - How to get minor account for IPO.
Can some one check with Kotak ?
I think they have this service.