What are the Documents Required for Fixed Deposits?

byPriyanka JuyalLast Updated: April 17, 2024
List of 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. 

Table of Contents Show
  1. Documents Required for Fixed Deposit
    1. Existing Customers
    2. For New Customers
    3. For Public/Private Limited Company
    4. For Hindu Undivided Family (HUF)
    5. For Partnership firm
    6. For Registered Societies
    7. For Statutory Board /Local Authority
    8. For Trusts
  2. Who can open a Fixed Deposit Account

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 an existing customer of a bank, you can log in to your online banking portal or mobile banking app and follow the instructions to open a fixed deposit account. Since the bank already has your KYC (Know Your Customer) documents on file, you may not need to submit them again. However, you may still be required to provide additional details and complete any necessary online forms.

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

Also Read: Benefits of a Fixed Deposit Account

Priyanka Juyal- a Writer with a curious mind & vision to create the best out of words. Other times, see her playing the guitar, sketching or narrating folk tales!

FAQs

How can I open my fixed deposit account offline?

To open a fixed deposit account, you can visit your bank's branch in person and bring any necessary documents with you. This will help ensure that the process of opening your fixed deposit account goes smoothly.

Which bank is best to open a Fixed deposit account?

The decision of where to open a fixed deposit account will depend on your personal preferences, specific needs, and the services offered by the bank in question. It is ultimately up to the individual to determine the best option for their circumstances.

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