All individual depositors and H.U.F. who have a PAN number are eligible to open a fixed deposit account. Any individual who is a Resident Indian and has attained 18 years of age can open a Fixed Deposit account;

• In his or her individual capacity, or
• In individual capacity on joint basis.

• Term deposit shall be of following types, namely: -
  
  • Single holder type deposits:
    The single holder type deposit receipt shall be issued to an individual for himself or in the capacity of the Karta of the Hindu undivided family.
  • Joint holder type deposits:
    The joint holder type deposit receipt may be issued jointly to two adults or jointly to an adult and a minor, and payable to either of the holders or to the survivor: Provided that in the case of joint holder type deposit, the deduction from income under section 80C of the Act shall be available only to the first holder of the deposit who should be a PAN holder.