{"id":8256,"date":"2025-08-12T06:51:00","date_gmt":"2025-08-12T06:51:00","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?post_type=banking&#038;p=8256"},"modified":"2025-08-12T06:51:01","modified_gmt":"2025-08-12T06:51:01","slug":"fixed-deposit-for-children-types-benefits-steps-to-start-an-fd-for-a-child","status":"publish","type":"banking","link":"https:\/\/lemonn.co.in\/blog\/banking\/fixed-deposit-for-children-types-benefits-steps-to-start-an-fd-for-a-child\/","title":{"rendered":"Fixed Deposit for Children &#8211; Types, Benefits, Steps to Start an FD for a child"},"content":{"rendered":"\n<p>Parents and guardians can open fixed deposits in the name of their children to build a corpus for future expenses such as education or marriage. The deposit is held by the guardian until the minor turns 18.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>Feature<\/th><th>Details<\/th><\/tr><\/thead><tbody><tr><td>Eligibility<\/td><td>Parents\/guardians can open an FD on behalf of a minor<\/td><\/tr><tr><td>Tenure<\/td><td>Same as regular FDs; typically 1\u201310 years<\/td><\/tr><tr><td>Interest rate<\/td><td>Usually the same as a regular FD for the selected tenure<\/td><\/tr><tr><td>Minimum deposit<\/td><td>Varies by bank, often from \u20b91,000<\/td><\/tr><tr><td>Taxation<\/td><td>Interest is clubbed with parent\u2019s income; TDS applies<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id='benefits'  id=\"boomdevs_1\" class=\"wp-block-heading\"><strong>Benefits<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Goal-oriented savings:<\/strong> Helps parents save for education or other milestones.<\/li>\n\n\n\n<li><strong>Disciplined investment:<\/strong> Funds are locked for the chosen tenure, instilling a saving habit.<\/li>\n\n\n\n<li><strong>Nomination facility:<\/strong> You can nominate a beneficiary for the deposit.<\/li>\n<\/ul>\n\n\n\n<p>When the child attains majority, the FD can be transferred to their name. Always check the bank\u2019s policies, as some institutions may have special schemes for minors.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-8256","banking","type-banking","status-publish","hentry"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking\/8256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/banking"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=8256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}