Yes, you can open a fixed deposit in the name of a partnership. To do this, you will need to provide the bank with the following documents:
- Partnership deed
- Identity proofs of all partners
- Address proofs of all partners
- Signatures of all partners
The bank will then open a fixed deposit account in the name of the partnership. The interest earned on the fixed deposit will be paid to all partners in equal shares.
Here are some additional things to keep in mind when opening a fixed deposit in the name of a partnership:
The minimum amount required to open a fixed deposit in the name of a partnership may be higher than the minimum amount required to open a fixed deposit in the name of an individual.
The interest rate on a fixed deposit in the name of a partnership may be lower than the interest rate on a fixed deposit in the name of an individual.
The bank may require the partnership to maintain a certain balance in the fixed deposit account.
If you have any questions about opening a fixed deposit in the name of a partnership, you should contact your bank.