login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

Can a Deposit be placed in the name of a Minor?

mahindra-finance-author

by Mahindra Finance

|

June 22, 2023

|

1 mins read

Yes. A deposit can be placed in the name of a Minor provided He / She is represented by His / Her Natural or Legal Guardian.

The Deposits Application Form must be signed by the Natural/ Legal Guardian on behalf of the Minor.

All communication in relation to the deposit shall be addressed to the Guardian.

Related articles

4 Critical Key Business Metrics You Should Consider As A Business Owner

Running a successful business requires more than just hard work and determination. It requires a deep understanding of your business’s performance and the ability to identify areas for improveme...

KNOW MORE

April 10, 2024

Features And Benefits Of A Fixed Deposit Account

A Fixed Deposit (FD) is a type of savings instrument offered by banks and Non-Banking Financial Companies (NBFCs). It allows you to save a certain amount of money for a predetermined term. T...

KNOW MORE

June 30, 2023

What Is A Home Loan? Meaning, Benefits & Importance

Owning a home is a dream for many individuals and families. However, the high cost of real estate often makes it challenging to fulfil this dream without financial assistance. This is where home loans...

KNOW MORE

February 5, 2024