saurabh (advocate) 25 September 2010

fixed deposit

here husband lives in punjab and made the F.D of 7 lacs in wife name...as per as my knowledge F.D cannot be make if the person cannot be present there and has to sign it...then how can husband make f.d of 7 lacs in wife name from punjab and submiting before delhi high court that she is giving this f.d to wife.... which we right now refusd to accept,....there is no joint accont of husband and wife there in punjab ...and also if wife latter accepts it then how can she redeem it beacuse her signature was nt there in making of f.d

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5 Replies

J. P. Shah (RTI & CONSUMER ACTIVIST) 25 September 2010

Wife can seek authenticated photocopies and details of account opening form etc from the bank. If it is a public sector bank, she can also file RTI application if simple applications are not invoking proper reply.

John Joel (Service Consultant) 25 September 2010

One can make a deposit in the name of another. The presence of this another is not essential at the time of deposit. But this another only can withdraw the deposit on personal appearance.

Parthasarathi Loganathan (Advocate) 15 October 2010

Yes I agree with Mr.John Joel, banks can open deposit accounts of any person if proper documentation is made with or without the presence of beneficiary provided it is convinced that the representative has satisfied all the norms prescribed under KYC

Galeel (webdeveloper) 19 October 2010

The fixed deposit rates vary from 0.35% to 0.75% from various banks. These interest rates vary periodically. So you have to check the latest rates from the bank website or from related websites. Some banks offer high rates with some terms for investments like the minimum deposit amount should be higher or the minimum time period of investment will be higher.

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Galeel (webdeveloper) 19 October 2010

Originally posted by :Galeel
"	The fixed deposit rates vary from 0.35% to 0.75% from various banks. These interest rates vary periodically. So you have to check the latest rates from the bank website or from related websites. Some banks offer high rates with some terms for investments like the minimum deposit amount should be higher or the minimum time period of investment will be higher. Stock Update	"