How to Open Demat Account for Minors

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How to Open Demat Account for Minors

Demat account opening for minor can be done in any of the two depositories in India. Demat (de materialization) is a process to convert securities held in physical form to electronic form. In India two depositories namely NSDL and CDSL offers depository services through SEBI registered depository participants. A minor can open demat account and hold shares only through his guardian. The minor shall be the first and sole account holder in the account. Joint account can not be opened with minor account. Guardian can be natural guardian or a court appointed guardian). In case of natural guardian, minor attains majority at the age of 18 years. If guardian is court appointed, majority is attained at the age of 21.

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