Fixed deposits offer excellent returns and security on your capital.
However, investors often ask the following three questions before investing in an FD
- What are the documents required for fixed deposit?
- What is the eligibility criteria of an FD?
- What are the current FD interest rates?
So, the following are the answers to the most frequently asked questions about FD interest rates, eligibility, and documents required.
What is the Eligibility Criteria and Documents Required For Fixed Deposit (for Individual Fixed Deposit)?
To open an individual fixed deposit account, you need to submit the following four documents:
- Application form
- One passport-size photograph
- PAN card (self-attested)
- Address proof, such as Aadhar card (self-attested)
What is the Eligibility Criteria and Documents Required For Fixed Deposit (for Non-Individual Fixed Deposit)?
A non-individual fixed deposit can be created by trusts, private/public companies, and partnership firms.
- If you are opening an FD account as a trust, you need to submit documents like trust deed, registration certificate, trust's address proof, etc.
- A private or public limited company should submit documents like the copy of the memorandum, resolution of investment, etc.
- A partnership firm needs to submit documents like declaration of partnership, partner details, PAN card, etc.
What are the Current FD Interest Rates?
FD interest rates generally start from 5.90% and go until 6.95% for the cumulative mode. However, if you opt for a non-cumulative FD, the interest rates may start from 5.74% and may go up to 6.70%.
Conclusion
Getting an answer to questions like "what are the documents required for a fixed deposit?" is easy when you choose the right lender. PNB Housing Finance offers 'no terms hidden' fixed deposit that gives one of the highest FD interest rates in India.
