Zerodha’s youngest investor is just 28 days old: How to open a free minor account online on the stock brokerage platform

Nithin Kamath has informed that its youngest customer is just 28 days old. The Zerodha co-founder explained how it had worked.

“The parents opened a Zerodha minor account, and a week later, they made the first investment,” he wrote on X.

Then, he shared the link, where people can create a minor account on Zerodha. Here’s how it works.

How to open a minor account on Zerodha?

Opening a minor account at Zerodha involves preparing documents and verification with a guardian. The online process includes providing personal details, linking bank information, uploading documents and signing electronically. Zerodha does not charge for opening a minor account.

Start by keeping digital copies of the minor’s PAN and the guardian’s PAN ready. You will also need the minor’s Aadhaar number to verify via a one-time password. Keep a passport-size photograph of the minor and the guardian’s signature ready.

Proof of the minor’s date of birth is another requirement. You can submit a birth certificate, a school leaving certificate, a passport, or a higher secondary board marksheet. A birth certificate written in another language needs an English extract. Combine the certificate and the English extract into a single PDF file.

You must also provide proof of the minor’s bank account. Accepted documents include a cancelled cheque, a bank statement, or a passbook. The account holder’s name and bank account number must be clearly visible.

The document must also show the bank’s logo or seal, MICR and IFSC code. A legal guardian letter is required when the guardian is someone other than a parent.

To begin, visit signup.zerodha.com/minor and use the guardian’s Zerodha login details. Check the guardian’s profile information before clicking Continue. You can change these details if needed.

Next, enter the guardian’s mobile number and email address. Alternatively, use contact details that are not linked to another Zerodha account. Verify these details using the one-time passwords received. Then enter the minor’s PAN and date of birth, and click Continue.

On the DigiLocker page, enter the minor’s Aadhaar number, then click Next. Enter the OTP received and submit it. Next, enter the minor’s bank account details. Select the terms and conditions checkbox before clicking Continue.

The next stage is In-Person Verification, also called IPV. This checks whether the applicant matches the documents submitted. Both the minor and the guardian must be present.

For online verification, visit signup.zerodha.com/ipv and enable the camera. A four-digit OTP appears on the screen. Show this OTP so it remains clearly visible during verification.

After verification, upload the required documents and click Continue. Adding nominees is optional. Complete the electronic signing process using the guardian’s Aadhaar.

Once the online application process is completed, account opening takes up to 48 working hours. Zerodha sends the login details to the registered email address. The guardian should check that email address for the account login information.

Minor accounts: Things to note

Remember, the minor account must be converted to an individual account when the child turns 18. This conversion is required once the child reaches that age.

A minor account is eligible to add and withdraw funds. But the fund can only be used to pay various charges. It cannot be used to buy shares and government securities. It cannot be used for intraday, F&O orders or OFS.

However, a minor account can be used to invest in mutual funds through Zerodha Coin. It can also be used to sell holdings and apply for IPOs, buybacks and takeovers. Shares can be ‘gifted’ to a minor account.