is pan card mandatory for fixed deposits
Yes, a PAN card is mandatory for opening a fixed deposit above ₹50,000 in India. Banks need it for KYC (Know Your Customer) compliance and to report interest earned to the tax authorities. For smaller deposits below ₹50,000, some banks may allow you to open an FD without a PAN card, but they often have limits on interest or tenure, and it can get complicated when filing taxes. While FDs are still safe and simple, a PAN card is one of those little formalities I always make sure to tick off before investing. It keeps things smooth and avoids unnecessary hassles later on.