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What happens to a minor demat account when the minor becomes major?

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When a minor completes 18 years of age and become major, he has two options:

  1. Close Minor Demat Account and open a new Demat Account

    The existing minor account can be closed and a new demat account opened in the name of the minor turned major. All securities in the minor account can be transferred to the new demat account.

  2. Convert Minor Demat Account to Major Demat Account

    Existing minor account can still be used. Minor turned major has to sign a new agreement with the DP and complete all formalities required for opening a new demat account. Guardian details entered earlier have to be deleted.


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