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Yes. There are no restrictions as to who can open a Term Deposit account. Let's say you want to deposit $10000/- towards your sons college funds, you can visit your nearby bank branch and open a TD as a joint account between you and your son.
A minor is a person who has not completed the age of 18 years. As such according to Section 11, of the Indian Contract Act of 1872, a minor is not competent to contracat. Therefore, any contract entered into by a n\minor except those fjor the necessaries of life supplied to him, is void ab initio, and are therefore unenforceable.
However, a banker can open a savings bank accout in the name of a minor and he runs no risk, as long the account is in credit.
Similarly, a banker can also open a Term Deposit account in the name of a minor provided he doesn't give loans to the minor. This is because a banker will have to face risks when he gives a loan to a minor because he cannot recover the loan amount from the minor, who is not competent to contract.
In case a banker decides to grant a loan to a minor for the necessaries of life for him, it is necessary to satisfy himself that the minor has got sufficient property. This is because a minor's property can be made liable, but a minor cannot be personally made liable for the loan.
In the eyes of law, a minor is a pampered child. Hence, a minor can become a major problem.
M.J. SUBRAMANYAM, XCHANGING, BANGALORE
Wiki User
∙ 11y ago
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How much money do you need to open up a TD Bank account?
you can open an account with $1.00 or more
Will TD bank open you a business account if owe money to another bank?
Yes. TD does not check your other bank's balance info in order to simply open a chequing or savings account
How much money do you need to open a bank account in TD Bank?
It depends on the type of account and it is usually a few hundred dollars. at max it could be $1000 to open a new account
Can a minor open a fixed deposit?
Yes. There are no restrictions as to who can open a Term Deposit account. Let's say your grandpa gave you $1000 and you want to deposit $1000/- towards your college funds, you can visit your nearby bank branch and open a TD as a joint account between you and your father/mother. Since you are a minor, the bank would require a signature of your parents or atleast one adult member of your family before opening your fixed deposit account.
What is the minimum required balance to open an account at a TD Bank?
"The minimums may vary state to state, but a good ballpark figure is $100 to open a checking account and $250 for an IRA"
Where can you find td ameritrade stock option investing center in Newark DE?
You can find a td ameritrade stock option investing center at the University Plaza Shopping Center, located on ATM Christiana Road. That is where you can open a td ameritrade account.
How does one create a TD login account?
Assuming one banks with TD already, all they need to create an account is their social insurance number, their ATM debit card, a TD bank account number and an email address.
Is td bank open on April seventh 2012?
Yes, TD Bank is open on April 7th, 2012.
Where can one open a checking account at a bank?
One can open a checking account at a bank quite easily. There are many different banks, such as Bank of America, TD Bank, or Citibank. One could go to the website of these banks and find out more information on the website about opening a checking account. However one may go to one's local bank and open a checking account in person.
I have an account but all I can access is how to OPEN an account. I want to sign in for on line banking. How do I do this?
I need the answers to this question how do I apply for online banking How do I do this? I need online banking for td bank You have to register your bank account at the banks wesite for online banking
What are the different types of bank accounts offered by TD?
TD offers several types of bank accounts, including a savings account, a checking account, and others. Further information on bank accounts with TD can be found on their website also.
How can one access TD online banking?
TD Bank is a financial institution which serves the United States. If a person already has a TD Bank account, he or she may go to the TD website, enter their user information and log in. If a person is not registered online, they may also do that online. An account with TD is required to access their online banking services.
