Open free online
minor demat account
Start building their wealth early. 100% paperless setup, zero account opening fees, and no annual maintenance charges
Why open a minor demat account on Groww?
There’s a reason millions trust Groww, here’s what makes it better for Minor investing
How to open your minor demat account?
All it takes is 3 easy steps
Only 4 documents required for minor demat setup
Your documents, digitally verified in minutes
- 1
Aadhaar Card
- 2
PAN Card
- 3
Date of birth proof (birth certificate, Class X marksheet, school leaving certificate or passport)
- 4
Bank account in the minor's name
- 1
Aadhaar Card
- 2
PAN Card
FAQs
Who can open a minor demat account on Groww?
An individual under the age of 18 can open a minor demat account. It lets a guardian invest in the child's name, until they turn 18. It's a great way to start building an investment habit or a long-term corpus for your child, right from an early age.
Can I use my existing Groww email ID and mobile number?
No. To make a new account on Groww, you’ll need to use a new email ID and mobile number.
Does the guardian need a Groww account already?
No. The guardian of the minor demat account does not need to have a Groww demat account.
What can a minor invest in?
Minors can invest in all mutual funds and apply for stock and bond IPOs. Stocks buying, Futures & Options, intraday trading, and other leveraged/derivative products are not available for minor accounts.
Does the minor need their own bank account?
Yes. The minor needs to create and link their own bank account to the minor demat account on Groww.
How do I get a PAN card for a minor?
To apply for a minor PAN card, fill out the online form on the Protean website or visit your local notary requesting minor PAN creation.
How long does it take to open a minor demat account?
Opening a minor demat account is completely online and takes 2-3 business days.
Who pays tax on income earned in a minor demat account?
All taxation of gains on the minor PAN is charged on the guardian's PAN linked to the minor demat account.
How can a minor apply for an IPO?
If UPI is not enabled for the minor's bank account, you can apply via the netbanking ASBA route. Here's how:
- Log in to the minor's bank netbanking account
- Navigate to the IPO through ASBA section
- Enter the minor's own demat account details to place the bid
- The application amount will be blocked in the minor's bank account until allotment
Note: The bank account and demat account used must both belong to the minor.