Yes, a Hindu Undivided Family (HUF) can open an FD. For the uninitiated, an HUF is a legal identity created by a family to pool all its assets together and taxed separately from individual family members. An HUF has its own PAN card and files tax returns separate from that of its members.
Documents required by a Hindu Undivided Family to open a fixed deposit (FD):
- Certified KYC documents
- Self-attested PAN card which bears the HUF’s name
- HUF’s deed of declaration of HUF
- Bank account statement/demat statement in the HUF’s name
- KYC documents for all adult members of HUF