Can a deposit be made with any institution?

There is no restriction on the opening of a fixed deposit with a particular bank or institution. The only requirement that has to be fulfilled in such a situation is that the investor has to complete the Know Your Client guidelines by submitting the various proofs of identity and address. This will ensure that the option of investing in the fixed deposit is available to them too even though they might not be clients of other services that are offered by the bank or other financial institution. This also provides a good opportunity for investors to check out the options that are in front of them and then make use of the best route that is suitable for them.