Can a senior citizen open a fixed deposit account jointly with a person who is not a senior citizen?

It is typically possible for a senior citizen to open a fixed deposit account jointly with another person who is not a senior citizen. Based on common industry practice:

• Eligibility: Financial institutions tend to allow joint fixed deposit accounts to be opened by a senior citizen along with non-senior citizen joint holders.
• Account Holder: The joint fixed deposit account form requires the senior citizen to be the first account holder, while the non-senior citizen can be the second holder.
• Ownership: It would be a joint ownership structure where both account holders have equal rights.
• Taxation: As per income tax regulations, the FD interest would be considered income of the senior citizen.
• Survivorship: Some banks and NBFCs may allow adding the survivorship clause, where the surviving joint holder inherits the FD upon the demise of the first account holder.

Senior citizens can usually open joint fixed deposits with non-senior family members, often with varied interest rates and survivorship options. Terms may differ, so it’s best to confirm with the respective financial institution.