Any one created HDFC minor account for kids?

[Santhosh]

I want to invest in Mutual funds through my fund advisor, they are asking minor account with e mandate support for mf investment .

Is it possible in hdfc minor account?
Is there any limite for e mandate?

What are the pros and cons of using minor account for investment?

 

[fradela]

Bad idea invest Mutual Funds through Fund advisor or banks.

 

[fradela]

Read my article on MF before investing.

Thread 'Building a Solid Equity Mutual Fund Portfolio'

Oct 20, 2024

Building a Solid Equity Mutual Fund Portfolio​

When it comes to investing, I firmly believe in the power of mutual funds.
They offer a practical way to grow wealth with minimal hassle, especially for those who prefer a structured, hands-off approach.

Every month, on the day my salary gets credited, I invest consistently. Here’s my approach:

• Stick to Index Funds (Passive): I only invest in passive funds, as they are low-cost and transparent.
• Direct and Growth Funds Only: This ensures that I avoid commission fees and focus on long-term capital appreciation...

• fradela
• best stocks etf portfolio invest right app account investing investment kuvera mutual funds stock market
• Replies: 37
• Forum: Mutual Fund

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[fradela]

Invest only Direct and Growth Funds Only: This ensures that I avoid commission fees and focus on long-term capital appreciation.

 

[fradela]

Regular funds you have to pay commission for advisor and banks.

 

[fradela]

Preferred Investment Platforms​

I primarily use Kuvera for investing and redeeming, and keep MF Central as a backup to cross-check investments.
For a consolidated account statement across all platforms, you can use this link: CAMS + KFintech.

 

[JimCarrey]

I have a minors account in HDFC. But I don't have it linked to any demat.
Unsure why would one want to do that, any ways it will be linked with the parent's PAN, tax liability will be on the parent's PAN.

 

[vine]

There is absolutely no logically sound use case to mke a new emandate for MF in the name of minor.
Just invest in your MF , which ever tool you use, (For simplicity, you can use MF utility website or MFcentral website or the AMC website).
If you want to keep it separate for whatever personal reasons, you can create a new folio # and mke new investments in that folio #
..
You can open a savings account for minor in HDFC or any bank.
HDFC has 5k min AMB called Super Children or something, just ask in any branch. You need to give your pan and Aadhaar and two photos of yourself and your kid. Don't take debit card, cheques if you don't need it.