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

All You Need to Know About Joint Fixed Deposits

Joint fixed deposits (FDs) are a popular investment option in India, offering individuals the opportunity to pool their funds and earn stable returns. Whether you’re looking to invest with a fam...

KNOW MORE

February 29, 2024

Benefits-of-Cumulative-Fixed-Deposits-for-Long-Term-Savings

Benefits Of Cumulative Fixed Deposit For Long-Term Savings

Introduction Saving money is an essential part of financial planning, and there are various avenues available to grow your savings. One such option is a cumulative fixed deposit (FD), which offers uni...

KNOW MORE

July 10, 2024

7 Different Types of SME Loans Available In India

Introduction Running a small or medium-sized enterprise (SME) comes with its fair share of challenges. From managing cash flow to expanding operations, there are numerous financial hurdles along the w...

KNOW MORE

May 8, 2024