Planning to invest in FD is a good decision it's a safe and risk-free investment. The interest rate you earn through FD depends on the lender generally the interest rate higher than saving account the FD interest rate is 3.5% to 8% it depends on the lender if you chose the PNB housing FD scheme you earn 8% interest rate till tenure. Senior citizens get a 0.5% additional interest rate, if you invest in tax saving FD then you can save your tax.
You want to open an FD account but you are unaware of the process of FD. Stay tuned with this blog and get to know the complete process.
What’s the FD process?
Open is an FD account that is an easy and quick method. let's discuss the process.
Eligibility criteria:
The eligibility criteria are different it depends on the lender to lender.
An Indian citizen
Non-Resident Indian
Hindu undivided family
Senior citizen
Minors
Corporate
Sole proprietorship
Trusts and societies
Partnership firms
Documentation:
open an FD account required some documents for the FD process.
Identity Proof: Required in id proof you need to submit a driving license, Aadhar card, Voter ID card.
Address Proof: Telephone bill, Aadhar card, voter id card.
two passport size photo
age proof including education mark sheet
Application:
collect the above mention document and fill the application form and submit to the nearest branch of the bank or NBFC along with a check. you can also fill the application form online and submit if you fill the online form you can transfer your FD money to the lender account now your work has been completed wait till the tenure and get your money.
Read More: Can you explain the fixed deposit process?
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