Which Documents Do You Need To Invest In Bajaj Finance FD?
Fixed deposits are high interest yielding term deposit schemes offered by many financial institutions in India. Their interest rates are generally higher than schemes like savings accounts or RDs. FDs also offer assured returns because the interest rates are fixed and do not change with financial market fluctuations. Together, it makes fixed deposits one of the most preferred savings schemes available in the Indian market.
If you are planning to invest in an FD, you have to submit some documents and fulfill certain eligibility criteria levied by your chosen financial institution. These generally include KYC papers, PAN Card, and some other financial papers.
However, the document requirements can change depending on the different types of fixed deposit schemes available. For example, Bajaj Finance Fixed Deposit is available for Hindu Undivided Families, public or private limited companies, partnership firms, local authority, and registered societies.
The list of documents, thus, varies depending on what type of scheme you avail from the above-mentioned list. Let’s take a look.
For registered societies –
A registered society has to submit the following documents:
- Copy of the registration certificate for that society. It should comply with the Societies Registration Act.
- A list of all the members of its managing committee.
- Committee resolution for the authorized signatories along with their specimen signatures.
- PAN and KYC documents of the members.
- A certified, actual copy of the social rules and by-laws.
For local authorities –
Local authorities or statutory boards have to submit:
- Self-certified letterhead.
- PAN and KYC documents.
- List of all authorized signatories and their specimen signatures.
For partnership firms –
Documents required to open a fixed deposit for a partnership firm are as follows:
- PAN Card of that firm.
- KYC documents of its directors.
- Name of all the authorized signatories along with their specimen signatures.
- ID proofs of the said signatories.
- Registration certificate of the firm.
- Partnership deed showing the list of owners.
For public or private limited company
A public or private limited company should submit the following documents:
- Certificate of incorporation.
- Article of association.
- ID proof of all authorized signatories.
- Partnership deed of the organization.
- PAN card of the company.
- KYC documents of its directors.
- Board resolution for opening an FD account.
For HUF or Hindu Undivided Family
Hindu Undivided Family (HUF) has to submit papers related to the identification of the family members and their bank account statements. It includes:
- Certified KYC papers of all adult family members.
- Copy of PAN Card (self-attested) with the name of that HUF.
- Bank account statement of the Hindu Undivided Family.
- Deed of declaration of the HUF.
These are the necessary documents required to invest in a Bajaj Finance Fixed Deposit. The simple documentation process makes applying and investing in an FD quick and hassle-free.
Fixed deposits offer a significantly higher return (up to 8.75%) than other investment schemes. You can deposit as low as Rs. 25,000 in an FD to earn better results. It is one of the best term investment policies to grow your savings without attracting market risks or fluctuations.