Can I invest in mutual funds in the name of minor?

Can Minors Invest In Mutual Funds? Minors can invest in Mutual Funds with the help of a guardian. The minimum age to invest in mutual funds in India on one’s account is 18 years. There is no specification for a maximum age to invest in mutual funds in India.

How do you invest in mutual funds on behalf of a minor?

Documents required to open a mutual fund account in a child’s name

1. Proof of the child’s age is needed.
2. The guardian’s relationship with the child must be proven.
3. A copy of the child’s birth certificate or passport is sufficient evidence of the child’s age and relationship with the guardian.

Are mutual fund units transferable?

The only scenario in which mutual fund units can be transferred to another is in case of the demise of the unit holder. This is usually in favour of a joint holder or a legal nominee to whom the transmission of a mutual fund unit takes place.

Can you buy mutual funds for someone else?

The procedure for gifting mutual funds is a little different. Unlike shares, mutual fund units cannot be simply transferred from one person to another, except on demise of the unit-holder. So, parents, grandparents and other immediate family members can invest via mutual funds in the name of minor children.

Can minor be second holder in mutual fund?

There should not be any joint accounts with the minor, either as the first holder or as joint holder. Investment can be made either by a natural guardian (father, mother) or a court-appointed legal guardian.

How do I open a mutual fund for my child?

Complete the application by selecting “custodial account” as the account type. List the minor with her Social Security number as the owner/minor and an adult to act as the custodian of the account. The custodian, typically a parent or grandparent, has power over the account until the minor reaches legal age.

Can I invest in my daughter’s name?

Can you invest in the name of a minor child? Yes, you can make an investment in any scheme of any fund house in the name of a minor child. The minor shall be the first and the sole holder in such a folio. No joint holders will be allowed in this folio.