Zerodha Registers 28-Day-Old Baby as Youngest Account Holder

BENGALURU: A 28-day-old baby has become Zerodha’s youngest customer. The parents opened a minor account and made the first investment a week later, co-founder and CEO Nithin Kamath said on Tuesday.“Our youngest customer is just 28 days old. The parents opened a Zerodha minor account, and a week later, they made the first investment,” Kamath wrote on microblogging platform X.He did not disclose the amount invested or what the parents had bought.Minor accounts allow investments to be held in a child’s name, with a parent or guardian handling the account. According to Zerodha’s rules, minors cannot buy shares directly. A guardian can buy shares and transfer them to the child’s account, or transfer existing holdings. Minors can also invest in mutual funds through its Coin platform.Intraday trading and futures and options are not allowed in these accounts.Opening an account online requires documents including the child’s and guardian’s PAN, the child’s Aadhaar, proof of birth and bank account details. When the child turns 18, fresh identity verification is required to convert it to an individual account.You use AI every day. Now get your AI Quotient. Take the AIQ test.