How many fixed deposits can I hold at the same time?

Fixed deposits (FDs) can typically be held in multiple numbers depending on your financial institution's policies and your personal financial goals. Here is how you can manage having more than one deposit:

• Financial Institution’s Policies: Most banks and non-banking financial companies (NBFCs) let you open several deposit accounts, but some might limit the number based on their policies or your total deposits.
• Fixed Deposits: To diversify your savings, you can often set up multiple fixed deposits, each with different terms or rates and tenures.
• Joint Deposits: If you have accounts with family or others, these are usually counted separately, but banks or NBFCs generally do not impose strict limits.
• Account Requirements: Opening multiple deposits might depend on your income or minimum balance requirements, though this differs by financial institution.
• Tracking Tools: Many banks or NBFCs offer online platforms that enable you to view all your deposits, including balances and when they mature.

If you’re uncertain about the number of deposits you can hold, a quick call or visit to your bank or NBFC will provide clear guidance.