A few days ago, Edelweiss MF Radhika Gupta shared 5 tips on how parents or guardians can start investing for their minor children. Her post went viral and prompted people to ask several questions. Others wondered if they would not be able to get a PAN card, open a bank account or invest in a fund for their children. Reacting to these, Ms. Gupta shared her post and wrote, “Myths about investing in minors.”
“Minors can get a PAN right after they are born. First they need a birth certificate and Aadhar. Minors can open a bank account,” the Shark Tank judge wrote.
Radhika Gupta added, “You can also invest in AMCs of regular funds (not just children’s funds) for minors in their name.”
See the entire post here.
The post has garnered more than 160,000 views since it was shared a few days ago. The share also garnered nearly 500 likes. People posted various comments while reacting to this share.
What are X users saying about Radhika Gupta’s post?
“Aadhaar, PAN, passport and creation of Demat account for 11 months old is completed. I have also applied for some IPOs from his minor account. I can also invest in mutual funds Is that you, Mom?” asked User X.
“I have already invested in MF for my two minor children with PAN (as guardian) and in their names. In fact, I have been doing this for 7-8 years using MF Utility. Directly online,” another added.
“Unfortunately, there is no online process to invest directly on behalf of minors, there is no process that can be easily done online, and there is no one to help,” added a third participant. Joined the.
“Good thing I can now manage my existing minor folio online. I save for my kids’ college education in large cap and mid cap index funds,” a fourth person wrote .
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