What are the Documents Required for Fixed Deposits?

To open a fixed deposit, you will need to follow certain formalities and provide a list of required documents. These can be submitted online or in person at a bank branch, but it is important to have all necessary documents ready to avoid any delays in the process. 

This guide will outline the documents you will need to open a fixed deposit account with a bank. Keep in mind that failing to provide complete, valid documents may cause issues with the account opening process.

Documents Required for Fixed Deposit

It is important to note that both new and existing customers can open a fixed deposit account with any bank. In addition to individuals, a fixed deposit can also be opened by various types of organizations, including public/private limited companies, Hindu Undivided Family, partnership firms, registered societies.

Here is a list of the documents that are required for each of these parties:

Existing Customers

• If you are opening a fixed deposit account with a bank where you already have an existing account, you may not need to bring all of the necessary documents with you because the bank will already have them on file. However, you will still need to bring a copy of your KYC (Know Your Customer) documents and recent passport-sized photographs.

For New Customers

• Recent Passport-sized photographs
• Documents for KYC (Know Your Customer) verification, such as a PAN card, AADHAR card, driving license, voter ID card, or passport

For Public/Private Limited Company

• Company PAN card
• Registration or incorporation certificates
• Bank account statement/latest telephone bill/latest electricity bill
• KYC of authorised signatories
• Board resolution for FD opening
• Passport size photographs

For Hindu Undivided Family (HUF)

• HUF deed and declaration
• PAN card
• KYC documents
• Passport size photographs

For Partnership firm

• PAN card
• KYC of all the authorised signatories
• Registration certificate
• Partnership deed
• Passport size photographs

For Registered Societies

• Board resolution for FD account opening
• PAN card
• KYC of all the authorised signatories
• Bank account statement/latest telephone bill/latest electricity bill
• Certificate of registration/incorporation
• Articles & memorandum of association
• Passport size photographs

For Statutory Board /Local Authority

• PAN card
• Bank account statement/latest telephone bill/latest electricity bill
• Certificate of registration/incorporation
• KYC of all the authorised signatories
• Copy of Permission given by government authority/ministry
• Passport size photographs

For Trusts

• Copy of trust deed
• Registration certificate
• Board resolution for FD account opening
• Passport size photographs

Also Read: Various Types of Fixed Deposits

Who can open a Fixed Deposit Account

• Indian citizen/NRI
• Hindu Undivided Family (HUF)
• Clubs, societies, associations
• partnership firms, public/private limited companies/ sole proprietorship
• Trusts
• Government departments

When considering options for opening a fixed deposit account, you may want to consider Paytm Payments Bank Fixed Deposit (PPBL FD). The process of opening an FD account with Paytm is easy, secure, and paperless, and offers a range of benefits such as higher interest rates, no penalty for early redemption, and auto-renewal of the amount. Learn more about Paytm Fixed Deposit and discover the benefits of saving with this option.

Also Read: Benefits of a Fixed Deposit Account