Kids Can Invest In Mutual Fund!
- Kids can invest in mutual funds, as there is no minimum age to invest.
- Minor kids can invest in mutual fund through their parent / guardian.
- Mutual fund portfolio will be in the name of the child only.
- Joint holding of portfolio not allowed when investment is in minor’s name.
- When minor turns 18 years of age, savings bank account status has to be changed to major.
- Dividend income and capital gains are clubbed under the income of parent / guardian for paying applicable taxes.
- Mutual funds are an ideal investment to secure child’s future financially.