List of Documents Required for Fixed Deposits

While opening a fixed deposit is a pretty simple task, there are still a few formalities that must be completed while creating one. You can open a fixed deposit using both online and offline ways. However, irrespective of the method that you choose, you are bound to submit a list of documents mandatorily to open a fixed deposit with any bank.

This blog will take you through the list of documents required to open a Fixed Deposit. Make sure to have all the mentioned documents handy as failing to submit any document or submission of expired/lost documents can hinder the FD account opening process.

Documents Required for Fixed Deposit

It must be noted that fixed deposits can be opened with any bank by a new or existing customer. Apart from individuals, any public/private limited company, a Hindu Undivided Family, a partnership firm, registered society, statutory board/local authority, or a trust can open a fixed deposit.

Here is the list of documents required for each of these parties-

Existing Customers

  • If you wish to open an FD with your existing bank account, you are not required to carry all the documents as your bank will already have all the necessary documents. However, you will still be required to carry a copy of KYC and your latest passport size photographs

For New Customers

  • Recent Passport size photographs
  • All the documents for KYC verification- PAN card, AADHAR card, Driving license, Voter ID card, 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

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

Among many options (banks and financial institutions) available to open an FD account with, you can also try exploring the Paytm Payments Bank Fixed Deposit with Induslnd as its banking partner. The process to get started with PPBL FD is absolutely easy, safe and paperless. Also, upon opening an FD account, you can avail of several benefits like a higher interest rate, no penalty on redeeming the FD amount before maturity, auto-renewal of the amount and so much more. Explore everything about Paytm Fixed Deposit and experience an ultimate way to save your money.

FAQs
How can I add money to my Fixed Deposit account?
You can add money to your FD account by visiting the bank or by using your bank’s internet facility. Also, it is advised to connect with the banking official to get a clear picture of how you can add money to a fixed deposit.
What is the minimum amount required to open a fixed deposit account?
The minimum amount to open a fixed deposit account varies from bank to bank.
How can I open my fixed deposit account offline?
You can open your fixed deposit account by visiting your bank’s branch. Make sure to have all the required supporting documents handy to open your FD account smoothly.
Which bank is best to open a Fixed deposit account?
It depends entirely on your individual preference, your requirements and the bank services with which you are going to open your Fixed Deposit account.
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