minor savings account
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Good savings account for my daughter
- Thread starter drvenkat
- Start date
helloworld
TF Legend
SBI .. long term and big one.
or HDFC, ICICI
// suggestion assumed you just need an account to auto debit every month from your favourite mutual fund along with not looking for any trouble or offers from that till she grown up but beneficial overtime.
If the child is minor and can we open demat account and invest on child name?
Open an hdfc account linked to yours. You can do sukanya samruddhi / ppf / MF from this. Sukanya samruddhi will be opened with hdfc only.
helloworld
TF Legend
Any idea on how to do? I saw some couple of articles but is there any way we can do it directly with demat account linked to bank account on Child's name?
So for my minor child i have an hdfc account linked to my account. I invest in MFs directly (not via demat route) which means I've got folios on the MF houses and I've set up systematic plans for investment monthly.
Yes for HDFC we can invest directly in funds. But my question is can we open a HDFC account on Minor name without linking to parent's account and invest in MF houses without Demat account?
So, are folios in your daughter's name?
Initially, i was opening folio for self directly. But now, I liked zerodha coin as all is available at one place. And zerodha coin allows to buy direct funds also.
AFAIK, one cannot open a minors account anywhere without linking to a parents SB account. Once you have a minors SB acct you can then invest in MFs.
MFs also do kyc of parent to allow investment by minor.
At age 18 we have to fill a form to convert minor folios to major folios for independent operation.
helloworld
TF Legend
there is no age restriction for demat, you can apply and use parents as guardians.
tax etc. attached to parent/guardian till minor becomes major.
How to open a minor account online and offline at Zerodha?
How to open a minor account online and offline at Zerodha?
support.zerodha.com
So mutual funds or demat, rules of investment and tax are similar!there is no age restriction for demat, you can apply and use parents as guardians.
tax etc. attached to parent/guardian till minor becomes major.
How to open a minor account online and offline at Zerodha?
How to open a minor account online and offline at Zerodha?
Ashik_Kumar
TF Neo
Now a days all banks are openig sukanya samruddhi Yojana
I opened minor account for my daughter in both HDFC and ICICI. The difference is that HDFC does not issue any Debit card whereas I received the Debit card from ICICI.
Already had Sukanya Samriddhi Yojana in Post Office. So I am using NEFT to transfer every month as an SIP (ICICI)
Planning to use the same for Mutual Fund Investments too (ICICI).
Can we setup Mutual Fund SIP from within the HDFC Internet banking?
Already had Sukanya Samriddhi Yojana in Post Office. So I am using NEFT to transfer every month as an SIP (ICICI)
Planning to use the same for Mutual Fund Investments too (ICICI).
Can we setup Mutual Fund SIP from within the HDFC Internet banking?
Abhishek012
TF Pioneer
Does this have the friday 20% upto 100 off offer.?
Also, what other advantages does this have ?
Hi
I have opened both saving and demat for my daughter.
For saving account you don't need anything, you'll just need birth certificate or aadhaar and contact RM or visit branch.
For demat, first your need to obtain Aadhar. Then apply for minor's PAN.
Application can be made online but documents have to be submitted offline (unlike in case of majors) .
Once same is done, you can open account on zerodha online easily. But one of parent has to have their own existing account on zerodha.
zerodha.com
It's completely online and won't take more than 15 minutes.
If you need any other help, you can always reply post / DM.
I have opened both saving and demat for my daughter.
For saving account you don't need anything, you'll just need birth certificate or aadhaar and contact RM or visit branch.
For demat, first your need to obtain Aadhar. Then apply for minor's PAN.
Application can be made online but documents have to be submitted offline (unlike in case of majors) .
Once same is done, you can open account on zerodha online easily. But one of parent has to have their own existing account on zerodha.
Signup and open a minor Zerodha trading and demat account online and start investing
Open a minor trading and Demat account online instantly and start investing on Kite
zerodha.com
It's completely online and won't take more than 15 minutes.
If you need any other help, you can always reply post / DM.
Abhishek012
TF Pioneer
All RuPay Platinum Debit Card eligible.
