The minimum amount required for a fixed deposit varies among banks and NBFCs. It is the least amount of money that an investor must deposit to open an FD account.

 

For instance, some banks may require a minimum deposit of ₹5,000, while others may allow you to start an FD with just ₹1,000. Similarly, NBFCs also have their own minimum deposit requirements, which can be as low as ₹1,000 or as high as ₹25,000. 

 

It’s important to note that these figures are indicative and may vary based on the bank or NBFC’s policy

Minimum Fixed Deposit Limit Set by FD Issuers

Here’s a table showing the minimum FD amount required to open a fixed deposit at the below banks and NBFCs

FD Issuer 

Type

Minimum Deposit

Bajaj Finance Ltd. 

NBFC

₹15,000

PNB Housing Finance

NBFC

₹10,000

Mahindra Finance Ltd.

NBFC

₹5,000

AU Small Finance Bank

Bank

₹1,000

YES Bank

Bank

₹10,000

Ujjivan Small Finance Bank

Bank

₹1,000

State Bank of India  

Bank

₹1,000

HDFC Bank

Bank

₹5,000

ICICI Bank

Bank

₹10,000

Axis Bank

Bank

₹5,000

Kotak Mahindra Bank

Bank

₹5,000

IDFC First Bank

Bank

₹10,000

Bandhan Bank

Bank

₹1,000

RBL Bank

Bank

₹5,000

IndusInd Bank

Bank

₹10,000

Federal Bank

Bank

₹1,000

Disclaimer: The above-mentioned figures are accurate as of 15th February 2024, and are subject to change at the FD issuer’s discretion.

How Do FD Issuers Decide Minimum Deposit Amount

The minimum deposit amount for an FD is decided by the bank or NBFC based on several factors: 

  • Market Conditions

FD issuers consider prevailing market conditions, interest rates, and the demand for fixed deposits. They may adjust the minimum deposit amount to attract depositors or to manage liquidity.

  • Regulatory Requirements

Regulatory authorities often impose minimum deposit requirements as part of their guidelines or regulations. FD issuers must comply with these requirements to operate within the legal framework.

  • Business Strategy

The minimum deposit amount is also influenced by the issuer's business strategy. Some issuers may target a specific segment of depositors by setting a relatively low minimum deposit amount. Others may focus on high-net-worth individuals and set a higher minimum deposit requirement.

Disclaimer

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort. 

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products. 

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FAQs

What’s the minimum amount required to open an FD?

The minimum deposit amount required to open an FD will depend on the FD issuer you choose. On Bajaj Markets, you can get started with just ₹1,000.

Can I open an FD with any amount?

The minimum amount required to open an FD varies from one bank or NBFC to another. It’s best to check with the bank or NBFC for their specific requirements.

What happens if I withdraw my FD before the maturity date?

If you withdraw your FD before the maturity date, you may have to pay a penalty. The amount of the penalty varies among banks and NBFCs.

Can I add more money to my FD?

Typically, you cannot add more money to an existing FD. However, you can always open a new FD with the additional amount if it meets the minimum deposit limit criteria.

Can I open an FD without a bank account?

No, you need to have a bank account to open an FD. The FD is linked to your bank account, and the maturity amount is credited to the same account.

Earn interest up to 8.60% p.a. by investing in a Bajaj Finance FD | Rated CRISIL AAA/ STABLE and [ICRA]AAA(stable) Invest Now
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