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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.
Wiki User
∙ 13y ago
Wiki User
∙ 12y agoyes minor can open saving account with guardian, also alone open sb ac age1o and above. Rk
Wiki User
∙ 15y agoYes - Provided a Major Guardian applies as a co-applicant and promises to supervise the account at all times.
Wiki User
∙ 15y agoYes, with a Major guardian.
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Can a minor on attaining majority withdraw his fixed deposit amount?
no he cant
What are thebasic requirements for a fixed deposit account?
The basic requirements for opening a fixed deposit account are: a. Amount to deposit b. Existing relation with bank (You need to hold some sort of account with the bank. Else, you will be asked to open one) c. Source/Proof of legal income If you have these, any bank will be willing to open an fixed deposit account for you.
I want to open a fixed deposit account. How do I go about it?
If you want to open a fixed deposit account you should go to the concerned bank or meet a professional from there. They will usually provide a dedicated relationship manager who will provide the necessary help in this matter.
What is the disadvantages of fixed deposit?
what is the disadvantages of fixed deposit
Fixed deposit is fixed asset or current assest?
A fixed deposit in the name of a firm is not a fixed asset.
What is Accounting entry of interest on fixed deposits?
fixed deposit A/c dr. to int on fixed deposit
How do you write letter for bank fixed deposit?
I want letter for bank fixed deposit
What is the difference between fixed deposit and non convertible debenture?
fixed deposit has its fixed term, but debenture does not have any term. fixed deposit can be invested in eqty,debt or any other , but the debenture is debt only.
Highest Interest in which deposit - recurring deposit or fixed deposit?
how to calculate Recurring deposit interest ?
How can a student get a credit card?
First you please open the account and you do fixed deposit. Ask the manager to want a credit card.
What is Fixed Deposit Calculator?
A fixed deposit calculator is a handy financial tool that helps individuals and investors predict the potential returns on their fixed deposit investments. Fixed deposits, often referred to as time deposits, are a popular form of savings or investment in which you deposit a lump sum of money with a bank or financial institution for a predetermined period at a fixed interest rate. Here's how a fixed deposit calculator works in simpler terms: Initial Deposit Amount: You start by entering the amount of money you plan to deposit initially into the fixed deposit. Tenure: You specify the duration or tenure for which you intend to keep your money locked in the fixed deposit. It can range from a few months to several years. Interest Rate: You input the interest rate offered by the bank or financial institution where you plan to open the fixed deposit account. This rate is usually fixed for the entire tenure. Calculation: The calculator then calculates the interest you'll earn on your fixed deposit over the chosen tenure. It also provides you with the total maturity amount, which is the initial deposit plus the interest earned. Visualization: Some calculators also display a graphical representation of how your money grows over time, making it easier to understand the growth of your investment. Fixed deposit calculators are valuable tools for financial planning. They allow you to compare different investment options, determine the best tenure and interest rate for your financial goals, and forecast the returns you can expect from your fixed deposit. This helps individuals make informed decisions about where to invest their money and how to maximize their savings over time.
What do you call a portion of a bank's deposit that are not loaned?
fixed deposit
