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Yes, but they would need an adult (usually a family member - father/mother) to be a joint holder of the account. Minors who are under the age of 18 cannot hold individual bank accounts or fixed deposits accounts with banks unless they have a joint holder in the form of a major.
What else can I help you with?
Are fixed deposits secured or unsecured loans?
Loans against Fixed Deposit (FD) are secured loans where borrowers secured against collateral (fixed deposit). The amount of secured loan depends on the FD deposit amount and this can go up to 90% – 95% of the deposit amount.Who can Apply for Loan against FD?· Loan against fixed deposits is extended to all the fixed deposit holders, be it individual holder or those with joint accounts· FD in the name of a minor does not qualify for this facility· Investors of 5 year tax saving FD cannot apply for this type of loanBenefits of Secured FD Loan· It offers lower interest rates in comparison with other types of loans (0.5% – 2% above the applicable FD rate)· You don’t have to break FD and go for premature withdrawal thus suffering loss of interest on FD· There’s no processing fees· You can obtain the loan against domestic as well as NRI FDs· The repayment is simple – a lump sum or installments (not later than FD tenure)
Are Fixed Deposits Bought?
No FD's are not bought. They are types of deposit account which are opened in banks for a fixed period....
Difference between mod balance and available balance?
MOD stands for Multi Option Deposit. - In MOD, the surplus funds lying in the SB account isautomaticallytransferred to a FD a/c (so that the a/c holder earns more rate of interest). Available balance is the fund lying in the a/c holders SB a/c. The total amount in the credit of an a/c holder is the sum of both MOD and available balance. ( ie amount in credit of a/c holder = MOD balance + Available balance)
What are the regulations for opening a bank account with a foreign deposit (FD) in the USA?
To open a bank account in the USA with a foreign deposit, you typically need to provide identification, proof of address, and details about the source of the funds. Additionally, you may need to comply with anti-money laundering regulations and tax requirements. It's important to check with the specific bank for their exact requirements.
What does FD stand for on a 10Kt gold ring?
what does fd stan d for
What is open number fd matka?
99- 94- 49
What happens to a joint bank fixed deposit with a nominee when the primary holder dies?
the fd has to be terminated and principl amount returned to nominee or joint holder without any deductions
Are fixed deposits secured or unsecured loans?
Loans against Fixed Deposit (FD) are secured loans where borrowers secured against collateral (fixed deposit). The amount of secured loan depends on the FD deposit amount and this can go up to 90% – 95% of the deposit amount.Who can Apply for Loan against FD?· Loan against fixed deposits is extended to all the fixed deposit holders, be it individual holder or those with joint accounts· FD in the name of a minor does not qualify for this facility· Investors of 5 year tax saving FD cannot apply for this type of loanBenefits of Secured FD Loan· It offers lower interest rates in comparison with other types of loans (0.5% – 2% above the applicable FD rate)· You don’t have to break FD and go for premature withdrawal thus suffering loss of interest on FD· There’s no processing fees· You can obtain the loan against domestic as well as NRI FDs· The repayment is simple – a lump sum or installments (not later than FD tenure)
I want to sell my fixed deposit what are the procedure?
You need to visit the bank branch where you have the account and submit a request in writing to close the account. You would have to submit the FD Receipt before the bank accepts your request. The bank will process the request and pay you the money that is present in the FD account.
What is OD account?
od account or the overdraft account is an account from which the depositor can draw more amount than that is available in the account.This is given on the basis of fd,assets etc.
How do you load paper in fd100?
The FD 100 is usually loaded by placing a roll of paper. To load the paper, simply open the FD 100 machine and place the paper.
Are Fixed Deposits Bought?
No FD's are not bought. They are types of deposit account which are opened in banks for a fixed period....
How is a Fixed deposit account to be maintained?
A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit You can maintain your FD Account by leaving it alone until the date of maturity
Difference between mod balance and available balance?
MOD stands for Multi Option Deposit. - In MOD, the surplus funds lying in the SB account isautomaticallytransferred to a FD a/c (so that the a/c holder earns more rate of interest). Available balance is the fund lying in the a/c holders SB a/c. The total amount in the credit of an a/c holder is the sum of both MOD and available balance. ( ie amount in credit of a/c holder = MOD balance + Available balance)
How do you make a star in LOGO?
to make a star on ms logo the commands should be: RT 20 FD 40 RT 140 FD 40 LT 70 FD 40 RT 140 FD 40 LT 70 FD 40 RT 140 FD 40 LT 70 FD 40 RT 140 FD 40 LT 70 FD 40 RT 140 FD 40
How do you draw a hexagon using logo command?
lt 45,fd 5o,rt 45,fd 50,rt 45 fd 50,rt 90,fd 50,rt 45,fd 50,rt 45,fd 50
How do you write a logo program for a rectangle?
fd 60 rt 100 fd 60 rt 100 fd 60 rt 100 fd 60
