Minor Demat Account Zerodha

When you decide to open minor demat account, you have to select the stockbroker that suits you. If your answer is Zerodha, then you must learn everything about the minor demat account Zerodha.

But before reading about the various aspects of the minor account, you must learn about the broker in brief.

Zerodha is a discount broker that was established in 2010. It is the organization that introduced the concept of discount broking in the country. It is a SEBI registered broker and facilitates trading in various trading segments like:

• Equity
• Government Securities
• Bonds
• IPO
• Commodity
• Currency
• Derivatives
• Mutual Funds

You can open a minor demat account when the account holder is not 18 years old yet. In this case, the account is opened by a natural or court-appointed guardian. Before opening an account, it is advisable to get familiar with Minor Demat Account Rules to avoid any kind of uncertainty.

With the information about the broker laid out, let’s move ahead to the section for learning the answer to – How to open minor demat account in Zerodha.

How To Open Minor Demat Account in Zerodha?

The procedure for opening a demat account for minors in Zerodha is quick and straightforward. It can be carried out online and offline. Further, there is no trading account for a minor.

The minor demat account opening process has been listed below:

1. Log on to the official website of Zerodha.
2. Scroll the home page till the end, and you will find a Menu option that reads – Open An Account.
3. Click on it.
4. You will get redirected to the account opening page.
5. Here, you have to enter your ten digits mobile number.
6. Click on the Continue button.
7. You will receive a One Time Password (OTP) on the registered number.
8. Once your mobile number is verified, the complete minor demat account opening form will load.
9. Fill the form with correct information like Father’s Name, PAN Card Number (of the minor and the guardian), Address, etc.
10. The account opening form must be signed by the guardian (natural or appointed) as the account holder is a minor.
11. With the form submitted, you will be required to upload the necessary documents (discussed in the next section).
12. The subsequent step is to complete the KYC (Know Your Client) of the Minor account holder and the Guardian.
13. Once that is complete, you will get a call from the Zerodha executive to verify your details and information.
14. Also, the guardian is required to write a letter or email of confirmation to state the reason for opening a minor demat account.
15. As this process concludes, the demat account credentials are sent to you in 3-4 business days.

In the case of the offline process, you have to fill the form on paper and submit a xerox of all the documents listed below.

Now that the process is understood, we should move ahead to list the necessary documents required for the minor demat account Zerodha.

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Documents Required For Minor Demat Account Zerodha

It is mandatory to submit some documents with the broker for verification when you open a minor demat account. The list of the minor demat account Zerodha requirements is provided below:

• Address Proof
• Age Proof of the minor (Birth Certificate)
• Aadhar Card of the minor
• Aadhar Card of the guardian (natural or appointed)
• Photographs of the minor
• Photographs of the guardian
• PAN Card of the minor
• PAN Card of the guardian
• Bank Proof of the minor

These are the documents you ought to upload after the form is filled and submitted. Now, let’s talk about the Zerodha charges for a minor demat account. 

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Minor Demat Account Zerodha Charges

When you plan to open an account with a broker, you look at the various charges levied. There are two significant charges you look at in the case of opening demat account for minors.

• Account Opening Charges
• Account Maintenance Charges (AMC)

Are you thinking why not brokerage or margin?

That’s because this account is not eligible to trade until the minor account holder becomes an adult and takes over the account.

So, we will discuss the two charges levied in a minor demat account without any further ado.

The account opening charges are ₹200 for the online and ₹300 for the offline process. The account maintenance charges are charged upfront. They are ₹300 paid annually.

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Conclusion

Opening a minor demat account in Zerodha is a simple task with the option to commence the process online and offline.

With the title of the largest active client base to its name, Zerodha has become the choice for many traders and investors. Although minors are not allowed to trade but here they can get the chance to earn money and other benefits with Zerodha refer and earn. 

Under this program, you become eligible to earn a commission on brokerage of the referral every month.

There are lot of other benefit of opening an account with Zerodha, to get more information fill in your details in the form below.

 

 

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