Who is eligible to invest in a fixed deposit in India?

The following categories of individuals and entities are eligible to invest in a fixed deposit (FD) in India:

1. Resident Individuals: Any Indian resident aged 18 or above can invest in FDs, including those investing on behalf of a minor.
2. Joint Account Holders: FDs can be opened by up to three individuals jointly under either AND/OR type of operation.
3. Non Resident Indians (NRIs): NRIs can invest in FDs but under special NRE and NRO accounts meant for them.
4. HUFs: Hindu Undivided Families operating through the Karta can also open FDs with financial institutions.
5. Companies/PSUs: Corporate entities and public sector organisations registered in India under proper documentation can opt for cumulative deposit options.
6. Trusts & Societies: Charitable and welfare trusts can also open term deposits.
7. Minors: Legal guardians can invest in minor-owned FDs on behalf of children below 18 years.

Therefore, individuals, Hindu Undivided Families (HUFs), various registered organisations, and Non-Resident Indians (NRIs) are all eligible, under current RBI regulations, to open and invest in fixed deposits offered by various financial institutions in India.Contact your chosen financial institution to learn about their specific policies regarding opening an FD and its eligibility.