Investing in mutual funds can be done very easily in the name of a child below the age of 18 years. Mutual Fund Folio Minor can be opened in the name of the child. The child will be the account holder. This folio will not be joint. If the child is less than 18 years of age, this investment will be done by the parent i.e. Minor Through Guardian Investment.
Either the birth certificate, passport or school leaving certificate of the child will have to be submitted. The KYC of the parent must be completed and a bank account in the name of the child is also required.
Watch this explainer video to know more about the process…
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