What is the minimum tenure for which one can open an FD account?

The minimum tenure for which you can open a fixed deposit (FD) account is usually:

• 7 days: Many financial institutions offer FDs starting from a period of 7 days. These are known as short-term FDs.
• 15 days: Some smaller banks and non-banking financial companies (NBFCs) offer 15 days as the minimum FD tenure.
• 1 month: The post office's Monthly Income Scheme requires a minimum tenure of 1 month.
• 3 months: The most common minimum period offered is 3 months or 90 days for longer-term FDs of 6 months to 5 years.

In summary, the minimum FD tenure varies across financial institutions but can be as low as 7 days to 15 days for short-term FDs. For longer-term deposits meant for fixed income, the minimum is usually 3 months.

Certain financial institutions may have higher minimums for senior citizens at 1 to 5 years. The minimum tenure options may also be higher for these special FD variants. It is advisable to check with your chosen financial institution for their policies.