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Yes, both demat and the trading account can be opened in the name of a minor child. The account is operated by a Guardian till the minor becomes major, Guardian has to be the father or in his absence mother. In absence of both, father or mother, the Guardian can be appointed by the court.
The Guardian is legally entitled to open, operate and even close the bank account, demat account and trading account on the minor's name.
Note that two KYC Application Forms must be filled i.e. one for the Guardian and another for the minor (to be signed by Guardian).
Things to know about Minor Demat & Trading Account:
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The Guardian is legally responsible to open, operate and even close the account.
Two KYC Application forms must be filled out by the applicant and the guardian.
Things to consider before opening a minor’s demat and trading account
The account can only be opened in the name of a minor child by the parents or court appointed guardians only.
The guardian needs to fulfill all requirements for documents and KYC requirements.
A DOB certificate is required for a minor child.
PAN card of the legal guardian is required to open the demat and trading account
Does a minor need a bank account before opening a demat or trading account?
No, a separate bank account is not required to open a demat and trading account.
For more information visit:- https://www.indiainfoline.com/open-demat-account