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Minor Account FAQs – RMoney

Post Date : November 10, 2025

1. What documents are required to open a minor account online?

A minor account can be opened offline. To open it online, the following documents are required:

• PAN: Digital copies of both minor’s and guardian’s PAN.
• Minor’s Aadhaar number: Required for OTP verification.
• Date of Birth proof: Digital copy of minor’s DOB proof (birth certificate, school leaving certificate, passport, or higher secondary mark sheet). 
• Passport-size photograph: Digital copy of the minor’s photograph.
• Bank proof: Digital copy of minor’s bank account (cancelled cheque, bank statement, or passbook).
• Legal guardian letter: Required if the guardian is not a parent.
• Address proof: Digital copy of guardian’s address proof (passport, Aadhaar, driver’s licence, or voter ID).
• Guardian’s signature: Digital copy required.

2. What are the account opening and Account Maintenance Charges (AMC) for a minor account?

There are no account opening charges for a minor account, However The AMC is free for the first year, and from the second year onwards, a nominal AMC of ₹299 + GST is charged annually, payable on a quarterly basis.

3. How long does it take to open a minor account?

Minor accounts are typically opened within 2-3 business days post-receipt of valid documents

4. Can a minor account be opened completely online?

Not currently. Our team is working on enabling a fully online process, which will be available soon.

5. Can I open RMoney accounts for all my children at the same time?

Yes, you can open multiple minor accounts with RMoney.

6. How to get a PAN card for a minor?

Apply online via NSDL PAN Services.

7. What happens when a minor turns 18 years old?

When the minor turns 18:

• Complete a fresh KYC process.
• Convert the minor account into an individual account.

8. Can funds be added and withdrawn from a minor account?

Yes. Funds can be added or withdrawn, but these cannot be used to buy securities. They can only be used for applicable charges such as transaction fees, transfer charges, or DP charges.

9. Can a joint bank account be linked to open a minor RMoney account?

Yes, if the minor is one of the joint account holders.

10. What are the tax implications for a minor account?

Income earned by minors (capital gains or dividends) is clubbed with the income of the higher-earning parent, who bears the tax liability. 

11. Can a minor invest in mutual funds through RMoney?

Yes, minors can invest in mutual funds through RMoney. For more details, see Mutual Funds for Minor Accounts – FAQs.

12. Who must sign forms if details need to be changed in the minor’s account after opening?

The guardian who opened the minor account must sign all forms and supporting documents.

13. What are the trading restrictions in a minor account?

Minor accounts have the following restrictions:

• Cannot buy shares or government securities (these must be transferred to the account).
• Cannot place intraday or F&O orders.
• Cannot participate in OFS.
• Can sell holdings from their demat account.
• Can apply for IPOs, buybacks, and takeovers.

Need Help?

Contact us:  Phone: 0562-4266600 / 0562-7188900
Email: askus@rmoneyindia.com
Website: rmoneyindia.com

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