Can a student open a demat account?

Short Answer

Yes, a student can open a Demat account. In case of minor student, the student's account is operated by a guardian and if the student is 18 or above, he/she can manage the account independently. Overall, there is no age requirement.

Detailed Answer

Demat account is short form for Dematerialized account. It is that account which is required to be created if an individual is planning to start trading or hold any sort of securities. For your electronic share certificates and other collateral, a Demat Account works similarly to a bank account. Bonds, mutual funds, government securities, and shares can all be held in it. There is no paperwork involved since it is an entirely online site. It allows its users to exchange more easily on that network. In India, two depositories, NSDL and CDSL, provide Demat services. There are several advantages to getting a Demat account such as smooth settlements, the ability to obtain monetization and liquidity, and, most importantly, the assurance of safety and security.

A student is allowed and can open a Demat account. There is no age requirement if any individual wants to open an account. To open a Demat account as a student, you simply need to apply your PAN passport, identity evidence, and KYC documents.

When any student opens a Demat account, he is not allowed to have joint holders in it further his/her account can only be operated by the guardians or parents.

The exact details required for the opening of account are:

  • A copy of birth certificate of the minor.
  • A copy of the PAN card of the guardian or a parent who is operating the account.
  • A copy of the PAN card of the minor.
  • Address proof of the parent or the guardian who is operating the account.
  • All the proof of the bank accounts which the minor holds.
Tagged With: Demat accountstudent accountstock marketbondsmutual funds
Categories: Demat
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