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Minor Account

Minor Demat Account and Trading Account

Things to know about Minor account:

Children below the age of 18 years in India are considered as a Minor.

Yes, both Demat and Trading account can be opened in the name of a minor child. The account will be operated by a guardian till the minor becomes major. Guardian can be Father or Mother. In absence of both, Father and Mother, the Guardian can be appointed by court.

The Guardian is legally entitled to open, operate and even close the Bank account, Demat account and Trading account in the name of Minor.

Guardian's Trading and Demat Account with ProStocks is mandatory to open Trading and Demat Account of Minor's

Minor Demat Account and Trading Account  

 

What is permitted :

  1. Can Apply in IPO , FFO , OFS etc in the Name of Minor using Minor Account.

  2. Can invest in ETF , Shares and Securities through Stock Broker.

  3. Can invest in Mutual Funds.

Minor account permitted  
Minor account not permitted  

What is not permitted :

  1. Any speculative activity like intra-day buy and sell .

  2. Any non delivery trades.

  3. Trading in Futures and Options.

  4. Payment from Bank account other than Bank account of Minor.

  5. Pledge of shares

 

Minor Account Opening Process and Document requirement.

The Following document of Minor is required . All the document must be in the name of the Minor .

  1. Photocopy of Aadhar Card

  2. Photocopy of Pancard

  3. Proof of Bank Account like cancelled cheque with name preprinted or copy of Bank statement where Name , Account Number , IFSC Code and address is mentioned and not older than 2 months.

  4. Photograph

  5. Photocopy of Birth Certificate in case Aadhar has year of Birth and not full date. Please note that no other document is allowed except birth certificate or Aadhar with full date of birth and not just year.

  6. Guardian will sign on behalf of Minor at all the places.

  7. All the document will be certified by the Guardian.

Additionally, the following document of Guardian is required :

  1. Photocopy of Aadhar Card ( self certified)

  2. Photocopy of Pancard ( self certified)

  3. Photograph

  4. Email ID and Mobile Number

  5. KRA of Guardian will also be required ( first page of KYC page ) if Guardian is not KRA and IPV compliant. Please visit www.cvlkra.com go to KYC enquiry option and check status of KRA and IPV of Guardian.

Process of Account opening :

Please login to our Ekyc website once all the above document are ready from the following link https://digitalkyc.prostocks.com/

Step 1 Register using Name of Minor and Email ID & Mobile number of Guardian. Select residential status as Resident.

Step 2 Fill all the information of Minor and not of Guardian.

Step 3 Upload document of Minor as well as Guardian.

Step 4 Generate PDF file

Step 5 ProStocks Team will check the PDF , Post checking you will receive call from email from [email protected] for signing instruction along with KRA of Guardian. You may also send email to [email protected] or call on 022-62 43 43 43 and press5.

Step 6 Instruction for  Printing and signing 

  1. Take the print of all pages
  2. Sign all places where marked sign and number is given. Please do sign stock holding page where a signature is mentioned.
  3. Two witnesses have to sign at two places and one witness at one place. Witness can be any adult who is neither Nominee nor Guardian in this form.
  4. Affix photograph  and sign across
  5. Attached self-certified copies of all document like Aadhar Card, Bank proof, Pan Copy etc.
  6. Send courier to our Goregaon east Mumbai address given herein below in this email.
  7. Issue cheque for Rs.1000/- in favour of “Sunlight Broking LLP”(Refundable deposit)
  8. You may also send scan image of the entire set before courier for one more round of checking and courier once you received the go-ahead from the support team. Please do call us  before sending courier so we can verify that all signatures are done and all required documents are attached.

We do open the account of Minor as well as Guardian of Minor's or those Minors whose Guardians are our existing clients.

Minor to Major

To convert Minor Account into Major Account, client need to Fill Online Application Form & Modification Form.

After filling application form client can proceed in two ways.

1. You need to do E-Sign using Aadhaar OTP received on your Mobile number/Email ID linked with Aadhaar. You would also need to courier account Modification Form to ProStocks Mumbai Office. Your account will get activated in one day.

OR

2. Take a printout of your verified application form, sign and courier signed form along with Modification Form to Mumbai office (Do not send courier without ProStocks Support Team confirmation). Your account will get activated in one day.

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Mumbai Office:
B-50, Pravasi Estate, Goregaon (East), Mumbai - 400063

Call us on +91 22 62 43 43 43 / +91 22 46 60 77 77

Email: [email protected]

Sunlight Broking LLP
Registered Office:
327, Govindam Tower, Old RTO Road, 3rd Floor, Gandhi Nagar, Bhilwara, Rajasthan, India 311001

Registration Numbers:
SEBI Regn. No.: INZ000048660 INDP2802016 | BSE Member code: 6635 | NSE Member code: 90084 | CDSL DP ID: 12083200 | AMFI Registration No (ARN): 119535


Attention Investors

Prevent unauthorized transactions in your demat account. Update your mobile number with your depository participant. Receive alerts on your registered mobile number for debit and other important transactions in your demat account directly from CDSL on the same day.
Prevent unauthorized transactions in your trading account. Update your mobile numbers/email address with your stock brokers. Receive information of your transactions directly from the Exchange on your mobile/email at the end of the day. This is issued in the interest of investors.
Client Registration Documents in Vernacular Languages can be download from here.
Facility of Clearing Corporation for verification of Client Collaterals , please register on this link
Investment in stock market are subject to market risk.
No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.
KRA-KYC is one time exercise while dealing in securities markets - once KRA-KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund, etc...), you need not undergo the same process again when you approach another intermediary. As a business we don't give stock tips, and have not authorized anyone to trade on behalf of others. If you find anyone claiming to be part of Sunlight Broking LLP and offering such services, please send us an email to [email protected]

Procedure to file a complaint on SEBI SCORES: Register on SCORE portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective Communication, Speedy redressal of the grievances

Investor Grievance: NSE | BSE | SCORE | SMARTODR | CDSL | [email protected]

Privacy Policy | Disclaimer | Management Policy and Procedure | Investor Charter & Complaint | Risk Disclosures on Derivatives | KMP Details | Procedure for Filling of Complaint | CKYC | Voluntary Freezing | NATIONAL FINANCIAL LITERACY QUIZ (NFLQ)

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