Fixed Deposit New Rules: RBI is also working continuously to strengthen the banking sector. Recently, there have been many changes in the banking system related to the general public. A similar change has now happened in the rules of fixed deposits. If you are also thinking of investing in fixed deposits, then let us tell you that recently a new guide on fixed deposit rules has been issued.
Fixed Deposit New Rules: Investing in FD has always been the most preferred option of customers. Investing in fixed deposits is beneficial for those seeking risk-free returns, but there is often a debate about the RBI rule for opening FD accounts in banks. If you also want to know how many FD accounts a person can open, then read about many specific issues related to FD.
A person can open so many FD accounts-
Many people make small money by investing in fixed deposits. According to the change in RBI rules, any person above 18 years of age can open a Fixed Deposit Account in any government or private bank in proportion to the income. There is no limit to open a fixed account. The person just has to complete the documentation process to open a fixed account (FD New Guideline). KYC process will also have to be completed to open an FD account. You will need identity card, address proof and other documents.
PAN card is necessary in FD account
PAN card is very important to open a fixed account (RBI FD Rule Change). PAN card is required in any bank or post office to do FD, although there are some rules for this. In fact, if the FD you have done gets interest of more than Rs 40 thousand annually (FD Best Return), TDS is deducted from the bank. At the same time, the limit for senior citizens is fifty thousand rupees. Therefore, banks ask for PAN card for FD.
Essential rules for nominee:
According to the rules of RBI (Reserve Bank of India), one has to write the name of the nominee in the bank form to open an FD account. These RBI rules are very important. According to this rule of Reserve Bank of India, you can write the name of one or more nominees on the nominee of FD. However, if you do this, then you have to tell the bank that the share of the amount deposited in your FD account will be divided among the nominees.
You can do FD for so many years
A person can open any number of FD accounts (fixed deposit rules change). There is no limit in this. You can get FD in the bank from 3 months to 10 years. Different FD schemes are also offered by banks to give bumper returns to the customers. Currently, many banks are giving 7 to 8.5 percent interest (fixed investment interest rate) on FD. FD financial goal is also a better option.
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