Documents Required for Fixed Deposit?

Posted on Monday, January 27th, 2025 | By IndusInd Bank

If you are planning to open a fixed deposit (FD), you might be wondering what documents you will be requiring. Thanks to digital banking and Know Your Customer (KYC) guidelines, it has become easier than ever to access banking services. So, for a fixed deposit, you will need a few documents only which you can upload online. Here’s a guide to help you get a better idea. 

Documents Required to Open an FD with IndusInd Bank

The documents required for FD may vary based on your customer status. For instance, if you are an existing customer, you may not need any documents. New customers, senior citizens, or business entities may need other sorts of documents to open a fixed deposit account. 

Here’s a detailed breakdown:

1. For Existing Customers

Existing IndusInd Bank customers will not have to provide any documents when opening a regular FD. This is because their KYC documents are already verified and on file with the bank. They can simply log in to their IndusInd Net Banking or Mobile Banking app and open an FD instantly.

2. For New Customers

If you are a new customer, you only need to provide basic KYC documents to open a fixed deposit. The key documents required for a fixed deposit include:

a. PAN Card: This serves as your proof of identity and is mandatory for all new customers.

b. Aadhaar Card: This document is used as both proof of identity and address.

After you submit these documents, you can complete the video KYC process online to verify your identity.

3. For Business Entities

Business entities, such as partnerships or companies, may need to submit additional documents. These can include:

a. Business Incorporation/ Registration Certificate: Proof that the business is legally registered.

b. PAN Card of the Business Entity: This ensures tax compliance for the business.

c. KYC Documents for the Authorised Signatory: Documents that verify the person authorised to operate the FD account on behalf of the business.

4. For Senior Citizens

Senior citizens looking to open an FD with IndusInd Bank are eligible for higher interest rates. The FD documents required for senior citizens are the same as for regular customers, with the additional requirement of age proof. This could be:

a. Aadhaar Card or PAN Card: To verify the age of the depositor, which qualifies them for special interest rates.

Before you open an FD by submitting the above documents, consider using a fixed deposit calculator. It gives you an estimate of the returns to help you choose the right FD option.

Opening an FD Account with Minimal Documentation with IndusInd Bank

Along with minimal documentation, the process of opening a new FD account with IndusInd Bank is also easy. 

Here’s how you can instantly book a fixed deposit:

1. For Existing Customers

If you are already a customer of IndusInd Bank, you can easily open an FD using:

a. Indus Mobile: Log in to the mobile banking app, select the deposit option, and fill out the form. Your fixed deposit account will be created in minutes.

b. Indus Net: Use Internet banking to create an FD. Simply select the ‘Deposit’ option and click on ‘Open FD’. Fill in the FD details and fund the deposit from your savings account.

As mentioned earlier, the documents required for fixed deposit for existing customers are none. 

2. For Non-IndusInd Customers  

Non-IndusInd customers can also book a fixed deposit online by following these steps:

1. Verify the documents required for FD, i.e. your PAN & Aadhaar.
2. Enter your personal details and choose your FD tenure and amount.
3. Complete your identity verification through the video KYC process.
4. Transfer the funds from your savings account to your newly created FD.

IndusInd Bank makes it easy to open an FD, even for those who are not existing customers.

Also Read:Understanding the Basics of Fixed Deposits

Conclusion

The documents required for a fixed deposit are quite minimal and may differ based on the applicant’s status. While individuals only need KYC documents, the list of documents required for FD for business entities may be longer. It is ideal to reach out to a bank representative or contact customer service for details. 

Whether you are looking to open an FD for personal savings, business, or retirement planning, IndusInd Bank offers competitive interest rates and a seamless digital experience. What’s more, you can also enjoy auto-renewal features, multiple interest payout options, tax-saving benefits, and more with us.

So, book an FD with IndusInd Bank now! 

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.