In Indian banking practice what is generally the minimum period for which a Fixed Deposit FD account can be opened with a commercial bank?

Introduction / Context:
Fixed Deposits FDs are popular interest bearing products offered by banks. Competitive exams often ask about basic features such as minimum tenure, maximum tenure and interest calculation. This question focuses on the minimum period for which an FD can generally be opened with a commercial bank in India. Knowing this basic fact helps you distinguish between very short term money parked in a current or savings account and term deposits that qualify as FDs.

Given Data / Assumptions:

• The context is Indian commercial banking practice.
• We assume normal retail FD schemes of scheduled commercial banks.
• The options include short periods like 7 days and 15 days and longer periods like 6 months and 1 year.
• The question asks for the minimum period not the most common investment period.

Concept / Approach:
In India banks are allowed to accept term deposits for very short periods subject to regulatory guidelines. For most commercial banks the minimum tenure for a fixed deposit is 7 days. Customers can choose various terms such as 7 days, 14 days, 30 days, 3 months, 1 year and so on. While many depositors prefer longer terms to earn higher interest, the definition of a term deposit does not require a minimum of several months or a year. Therefore among the given choices 7 days is the correct minimum period for opening a standard FD with many Indian banks.

Step-by-Step Solution:
Step 1: Recall from bank brochures and exam material that banks offer short term deposits starting from 7 days.Step 2: Note that 15 days is also a possible tenure but it is not usually the regulatory minimum across banks.Step 3: Recognise that 6 months and 1 year are common tenures but are much longer than the minimum.Step 4: Since the question asks for the minimum period, select the lowest valid tenure offered in practice which is 7 days.Step 5: Cross check that a deposit for fewer than 7 days is generally not classified as an FD in standard schemes.

Verification / Alternative check:
You can verify from typical bank rate cards. They list FD interest rates beginning with a slab labelled 7 to 14 days or similar. There is no FD slab for less than 7 days. At the same time there are multiple longer term slabs including 6 months, 1 year, and several years. This pattern confirms that 7 days is the standard minimum tenure for an FD, making option C the correct choice.

Why Other Options Are Wrong:
Option A, 15 days, is incorrect because although some banks may offer attractive rates for deposits of 15 days and above, the regulatory and practical minimum is 7 days. Option B, 6 months, and option D, 1 year, describe longer term investments and are common choices for depositors but they do not represent the minimum possible tenure. Selecting them would ignore the existence of short tenure FDs that many corporates and treasury departments use for cash management.

Common Pitfalls:
Many candidates assume that FDs are always medium or long term and therefore guess 6 months or 1 year as the minimum. This happens because people are more familiar with retail deposits of these tenures. Another pitfall is to think in terms of personal preference rather than regulatory possibilities. To answer correctly, separate what people usually choose from what banks are allowed to offer. For factual questions always recall the smallest number you have seen in authentic rate charts or study material.

Final Answer:
The minimum period for which a Fixed Deposit FD account can generally be opened with a commercial bank in India is 7 days.