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Fixed Deposits (FDs) are the most common instruments of saving and investment for the masses in general. An FD provides the depositor with guaranteed returns in the form of interest on the amount invested. Fixed deposits carry minimum risk and offer higher rate of interest in comparison to a savings bank account. The date of maturity is pre-selected by the depositor. All banks offer the facility to open FDs from the retail branch, online as well as through mobile/phone applications. Once you open an FD, the bank will provide a Fixed Deposit Receipt (FDR) as an acknowledgement of investment. The acknowledgement slip contains important details regarding your FD.
A Fixed Deposit Receipt (FDR) is a document issued by the bank post the applicant opens a Fixed Deposit account from their bank. The components of a Fixed Deposit Receipt are:
What is a Fixed Deposit Receipt?
A Fixed Deposit Receipt (FDR) is a documentary proof issued by the bank, post the applicant opens a Fixed Deposit account from their bank.
What happens if I lose my fixed deposit receipt?
In case you lose the Fixed Deposit Receipt, you will have to physically visit the bank branch and request for a duplicate issue. Make sure you carry your original PAN card for verification.
What is the process to get the fixed deposit receipt back?
In order to get a Fixed Deposit Receipt, you need to visit the bank branch and submit a written request for issuing a duplicate FDR.
Does fixed deposit receipt provide information about tax declaration?
Depending upon the bank and deposit scheme, an FDR might provide information regarding taxes which may/may not be subject to deduction.