What documents are necessary to open an FD account?

To open a Fixed Deposit (FD) account in India, you will need to provide certain documents to verify your identity, address, and other necessary details. The documents required may vary slightly between financial institutions, but here is a general list:

1. Proof of Identity (KYC Documents)

The bank or NBFC may ask you to provide one (or more than one) of the following government-issued identification documents as proof of your identity:

• Aadhaar Card (most commonly accepted)
• Passport
• Voter ID
• Driving Licence

2. Proof of Address

You may also need to provide proof of your current address. It includes:

• Aadhaar Card (if the address is updated)
• Passport
• Utility Bills (electricity, water, or telephone bill, not older than 3 months)
• Ration Card
• Rental Agreement (for tenants)

3. PAN Card

A PAN Card is a mandatory requirement for all Fixed Deposits. It is also required for tax purposes.

4. Passport-sized Photograph

Most financial institutions will ask for a passport-sized photograph for their records, especially if it is a new account opening.

5. Nominee Details

You will be asked to nominate a person who will receive the FD amount in case of your demise. You need to provide the nominee’s:

• Name
• Relationship with the account holder
• Date of birth
• Nominee's address and contact information (if required)

6. Proof of Repayment Bank Account

You may also require details and proof of your active bank account where the FD maturity proceeds (principal + interest) will be credited.

Please note: The exact list of documents may slightly vary depending on the policies and regulatory requirements of banks and non-financial banking companies (NBFC). Please check the latest requirements before applying.