Why Open A Free Minor Demat Account Online With Us?

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Why us for Opening Free Minor Demat Account

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An excellent support team that guides you at every step available via phone and emails and branch offices.

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Open a Low Brokerage Minor Demat Account

Brokerage is charged on a percentage basis for Intraday, Delivery and Futures while the brokerage for Options is calculated on the basis of a flat fee.

Equity
Equity
  • Delivery 0.20%
  • Intraday 0.02%
  • Futures 0.02%
  • Options ₹ 25 per Lot
Currency
Currency
  • Futures 0.02%
  • Options ₹ 20 per Lot
Commodity
Commodity
  • Futures 0.02%
  • Options ₹ 50 per Lot

Open a PaperlessPaperless Minor Demat Account For Free

Minor Demat Account Opening Process

Step One Step One Step One
Register Online

Fill in the required details and upload the relevant documents along with a passport size photograph.

Step Two Step Two Step Two
In-Person Verification

Complete the In-person verification (IPV).

Step Three Step Three Step Three
Registration Complete

Your Minor Demat Account opening is successful with Choice Broking.

Step Four
Courier POA

Courier us the signed copy of the Power of Attorney (POA) sent on your registered Email ID.

Minor Demat Account Opening FAQ's

When a Demat account is opened in the name of the Minor; it’s known as Minor Demat Account. The account will be operated by the natural guardian (parents) or court-appointed guardian.
Yes, minors can have a demat account opened, but it will be operated by a guardian until the minor becomes a major.
The procedure remains the same as opening a regular demat account.
  • 1. Fill the standard demat account form by Guardian
  • 2. Two KYC forms need to be submitted, one of the Guardian which will collect the bank details, salary range etc. 2nd KYC collects the minor’s basic details to connect it with the guardian, 2nd KYC has to be signed by the Guardian.
  • 3. Pan and Aadhar card of the minor has to be provided along with the guardian’s documents
The process of a Minor Demat Account required documents for Identification Proof, Proof of Address, A Photocopy for Age Verification, Applicants’ Photographs such as -

  • PAN Card of the Guardian
  • PAN Card of the Minor
  • Proof of Birth of the Minor (Birth Certificate, School Leaving Certificate)
  • Proof of Identity of the Minor (Aadhar Card)
  • Proof of Address of the Minor (Electricity Bill, Ration Card)
    • Minors cannot operate Demat or Trading accounts, these will be operated only by the guardian until the minor comes of age.
    After the minor turns to major, he has to go through the same procedure that is required to open a new demat account to take over the ownership.

    Note: Minor demat accounts become inoperative when he/she turns 18. The broker will intimate you regarding this.
    If the KYC is clear, it will take 2-3 working days for the account to be active.
    Any Indian citizen of India, regardless of age, can own a Minor Demat Account. In India, anyone can legally register a minor Demat account. The minor is unable to buy or sell shares. They will need the father/mother or guardian to function their account. For opening a Demat account a minor must have a valid PAN Card.
    For minors under the age of 18, natural guardians (parents) or court-appointed guardians can demat account for them.

    Note: Minor Demat accounts can only be used by guardians.
    A trading account in the minor's name may be formed only for the purpose of selling stocks that the minor has acquired through IPO, inheritance, corporate action, or off-market transfers. However, until the minor becomes a major, the natural guardian will be in charge of the account.
    A minor is not permitted to enter into a buy or sale agreement with a stockbroker. A trading account in the name of a minor can be opened only for the purpose of investments and selling securities owned by the minor.
    A Minor Demat account has some restrictions/limitations such as -

  • Certain segments are prohibited: A Minor account holder is not permitted to trade in -
    • 1. Intraday Trading
    2. Currency Derivatives (F&O)
    3. Equity Derivative (F&O)

  • Trading Account Restriction: A minor's Demat account cannot be linked to their Trading account.

  • No Joint Account: A minor is not permitted to participate in a Joint Demat account with his parents/guardians.

  • Transaction Limits: You can only buy or sell delivery shares.
    • When a minor reaches the age of 18, the Minor Demat Account expires. Then you must create a separate Demat account for the minor. It is possible to transfer old assets to this new account. The account can be used again, but the minor must sign a new contract with the depository participant (DP).
    Some standard charges are applicable to a Minor Demat Account. There can be an additional Safety or Custodian Charge charged for a Minor Demat Account.

    Minor Demat Account

    Can parents instill the value of investing and economic planning in their children at an early age? Surely they can do so by opening up a Demat Account for their Minor children....
    Attention Investors: (1) Prevent Unauthorized Transactions in your account --> Update your Mobile Number and /or email id with us.(2) Receive alerts on your Registered Mobile for all debit and other important transactions in your Minor Demat Account & Trading account directly from Depository & Stock Exchange on the same day on your mobile or email. (3)No need to issue Cheque by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. (4) No worries for refund as the money remains in investor's account. (5)Registration details: Choice Equity Broking Private Limited –SEBI Reg. No. INZ000160131, BSE – TM Code – 3299, NSE – TM Code – 13773, MSEI - – TM Code – 73200, , MCX – TM Code – 40585, NCDEX – TM Code – 01006, ICEX TM Code -1274 (6) Depository Participant SEBI Reg. No. - IN-DP-84-2015, CDSL DP ID – 12066900. NSDL ID: IN301895 (7) AMFI Reg. No. ARN:126541 (8) Investors should be cautious on unsolicited emails and SMS advising to buy, sell or hold securities and trade only on the basis of informed decision. Investors are advised to invest after conducting appropriate analysis of respective companies and not to blindly follow unfounded rumours, tips etc. Further, you are also requested to share your knowledge or evidence of systemic wrongdoing, potential frauds or unethical behaviour through the anonymous portal facility provided on BSE & NSE website.(9) Once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.(10) Weekly Options contracts on NIFTY 50 Index shall be available for trading in Future & Options segment w.e.f. 11/02/2019.. Please contact your local branch or dealer for details. (11) For any queries or service request: care@choiceindia.com, 88-2424-2424, For any complaints or grievance: ig@choiceindia.com, In case you are not satisfied with broker resolution, You can also file complaint at SEBI Scores website : scores.gov.in/scores/Welcome.html
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