A fixed deposit is an ideal investment instrument for many, especially if you want to invest in a low-risk instrument and earn stable returns. Furthermore, in the last few years, the process of booking an FD has gotten simpler.
You can simply visit the issuer’s website or visit their branch to get started. Like other investments, fixed deposits also come with an acknowledgement document. This is known as a fixed deposit receipt and is issued once you have booked your FD.
Given that it is your proof of investment, it is an important document you should know about. Read on to learn more about a fixed deposit receipt, its components, importance, and more.
Once you complete the investment process, the FD issuer will automatically issue a fixed deposit receipt (FDR). FDR is an acknowledgement and ownership proof of the investment. It contains important details about you and your investment with the issuer, such as:
Your name
Age
Address
Investment particulars
Maturity date
As a result, it is important that you keep your fixed deposit receipt safe and secure. However, in case you have lost the receipt, you can contact the issuer and know the process to avail a duplicate fixed deposit receipt.
Generally, you have to submit a written request to the issuer and other documents, if requested. In some cases, you may be charged a certain amount, however, this depends on the issuer.
Here’s how you can open your FD receipts online:
Step 1: Navigate to your issuer’s official website.
Step 2: Enter the necessary personal information.
Step 3: Choose your FD.
Step 4: Click on ‘Fixed Deposit Receipt’ and download
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Knowing what is included in the receipt can help you better understand this document. Here is a standard fixed deposit receipt format regarding the information and features of fixed deposit receipts:
Investor Details |
This section of the FD receipt will contain your details, such as name, age, and account number. Make sure that these details are accurate to avoid issues in the future. |
Investment Details |
Here you will find information regarding the fixed deposit you book. It will contain the investment amount, tenor, and interest rate. It is crucial that these details are accurate. |
Investment Type |
You can either opt for periodic interest payout or receive earnings at maturity. Depending on what you choose, your investment will either be non-cumulative or cumulative, as provided in the fixed deposit receipt. |
Interest Rate |
Here you can check the interest rate offered on FDs by the issuer. The rate of interest determines the returns that you can earn. |
Maturity Details |
This will contain information pertaining to the day your tenor will end and the amount you will receive when the tenor ends. Make sure that this information is accurate as per the terms of investment. |
Auto-renewal or Closure |
When your fixed deposit matures, you can either renew it or withdraw it. You can choose what to do at the time of investment, and it will be mentioned in the fixed deposit receipt. |
Nomination Details |
Here you will find the information regarding the nominee you have selected. In your absence, the nominee will receive the maturity amount. As a result, you should ensure that this information is accurate. |
FD Charges |
Many issuers charge certain types of fees on your FD investment that may impact your returns. For instance, if you withdraw from your FD before maturity, the lender may levy a penalty. |
Apart from being an acknowledgement of your investment and proof of ownership, there are quite a few features and benefits of keeping your fixed deposit receipt handy.
In case of a premature withdrawal on your FD, you will have to furnish proof of ownership, which can be done with the receipt.
If you want to avail a loan against your FD, the issuer will ask for the receipt to keep as a lien. Once you repay the loan, it is given back to you. The receipt will be re-issued to you with updated details after you repay the loan amount completely.
The fixed deposit receipt is an important document you will have to submit at the renewal of your investment. The issuer will ask you to surrender the current receipt and issue a new one once you complete the renewal process.
Here are the documents you would need while applying for a Fixed Deposit Receipt account.
Address Proof
Salary Slip
Telephone Bill
Electricity Bill
Bank Statement
Identity Proof
Aadhaar Card
Driving Licence
Passport
Voter ID
For Senior Citizens
PAN Card
Voter ID
Passport
Driving Licence
For Minors
A Birth Certificate
Other Proofs
Savings Account Documents
Date of Birth Proof
Monthly Interest on FD
Yes, the fixed deposit receipt is necessary because it is proof of ownership and investment.
No, a fixed deposit receipt is not transferable between people.
After completing the formalities and starting a fixed deposit scheme, you will be issued a fixed deposit receipt. This will be your proof of fixed deposit.
Generally, issuers will automatically give you a fixed deposit receipt once you complete the investment formalities. In case you have not received the receipt, you can contact the issuer and ask for it.
Yes, you can ask for a duplicate receipt from your issuer. Generally, you have to submit a written request, but you can confirm the procedure by contacting the issuer.
Yes, you can verify your fixed deposit receipt. To do that, you can check the details mentioned in the receipt. You can also contact the issuers to ask for assistance in verifying the authenticity of the same.
If you have lost the receipt, you will have to request a duplicate receipt. The process for acquiring a duplicate receipt depends on your issuer, and you can confirm the same by contacting the issuer.
Yes, a fixed deposit receipt contains information about the nominee you choose.
Yes, your fixed deposit receipt does contain information about tax deductions and tax declarations.
You need not panic about losing your FD receipt. You could always make an application for a copy of your fixed deposit receipt.
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