Am I eligible to invest in a Fixed Deposit?

Eligibility to invest in a Fixed Deposit (FD) typically depends on the following criteria:

• Age: Individuals must typically be at least 18 years old. However, minors can also invest with the assistance of a guardian or custodian.
• Residential Status: Fixed deposits are available to both Indian citizens and Non-Resident Indians (NRIs). Some institutions may offer specialized FD programs for NRIs.
• Documentation: Required documents usually include identification proof (such as a passport, driver’s license, or Aadhaar) and address proof (like utility bills or rental agreements).
• Income: While there’s no minimum income requirement, having a stable source of income can be advantageous.

Specific criteria may vary depending on the financial institution, so it is advisable to check with your chosen institution for detailed eligibility requirements.