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

Top 10 Mistakes To Avoid When Applying For A Personal Loan

Top 10 Mistakes To Avoid When Applying For A Personal Loan

Applying for a personal loan can be a convenient solution in times of financial need. However, it’s important to tread carefully and avoid certain mistakes that could lead to unnecessary financi...

KNOW MORE

August 26, 2024

What is Top-Up Fixed Deposit (FD) & Benefits Of Top-Up FD

Introduction If you’re looking for a safe and reliable investment option in India, Fixed Deposits (FDs) are an excellent choice. They offer steady returns and security for your hard-earned money...

KNOW MORE

April 26, 2024

6 Reasons to Open a Fixed Deposit

Depositing additional funds are always welcomed by any bank, but, you as a customer are always muddled whether to store it in a Savings Account or a Fixed Deposit (FD) account. A head-on comparison be...

KNOW MORE

June 29, 2023