What documents are needed for KYC?

What are documents required for KYC?

Officially valid documents (OVDs) for KYC purpose include: Passport, driving licence, voters' ID card, PAN card, Aadhaar letter issued by UIDAI and Job Card issued by NREGA signed by a State Government official.

What is KYC What are the document require for KYC in bank?

Generally an Identity Proof with photograph and an Address Proof are the two basic mandatory KYC documents that are required to establish one's identity at the time of opening of a bank account, fixed deposit, mutual fund, insurance, etc.. Financial institutions may also require you to furnish Income Proof before ...

Is PAN card necessary for KYC?

The PAN is proof of your identity as well as income. It also proves that you are a tax-paying citizen of the country. A PAN Card is, therefore, a mandatory document at the time of getting your KYC process done.

Is Aadhaar card a KYC document?

KYC or Know Your Customer is a compulsory process that most mobile companies and financial institutions require their customers to complete. Although an Aadhaar card can be used as a KYC document, the entire KYC process still takes a relatively long period of time to complete due to documentation.

why Bank ask for KYC documents ? | Know all about KYC

Can KYC be done online?

If you do not have the time to go through the KYC procedure offline and wondering if KYC can be done online, the answer is 'YES'. e-KYC eliminates physical paperwork and in-person verification that is needed in case of regular KYC registration.

Is Aadhaar mandatory for bank KYC?

For other banking services, Aadhaar is a preferred KYC document. However, if you do not wish to submit Aadhaar, then you may use any other officially valid documents as prescribed by Reserve Bank of India. Remember, linking your bank account with Aadhaar in this case is optional.

What can be used as address proof?

For proof of Address

Income Tax PAN card Income Tax Assessment Order Photo Credit Card Credit card statement (not older than last three months) Smart card issued by CSD, Defense/Paramilitary Telephone Bill of fixed line (not older than last three months).

Is Aadhar card proof of address?

This uniqueness property of Aadhaar allows it to act as a robust ID, hence, Aadhaar is accepted as Proof of Identity and Proof of Address for an Aadhaar Holder.

Is bank passbook a valid address proof?

The list of banks whose passbooks can be applied as address proof are Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, Punjab and Sind Bank ...

What are ID proofs?

An ID proof is simply your valid Identity. It is generally in the form of Card like A dhar card. It is a legal document issued by government of India which is your identity to someone or for some work.

Can masked aadhar be used for KYC?

Can masked Aadhaar be used for KYC? According to UIDAI, you can use a masked Aadhaar for e-KYC at places where there is no compulsion of sharing the Aadhaar number.

Can I open bank account with PAN card only?

For opening a bank account you need certain documents. Without them, you cannot open a bank savings account. Documents that you need to open a savings account in a bank are - your valid photo identification proof like Aadhaar card or PAN card, passport, driving license etc.

What is the full form of e-KYC?

What is eKYC? In India, Electronic Know Your Customer or Electronic Know your Client or eKYC is a process wherein the customer's identity and address are verified electronically through Aadhaar authentication.

How can I do KYC at home?

How do I register for KYC?

How can I get KYC in Aadhar card?

Which bank is best in India?

Can I open bank account with only Aadhar card?

In short, if you find Aadhaar convenient and safe then you can use it to open a bank account. However, the use of Aadhaar remains voluntary and you need a physical copy of an offline electronic copy of your Aadhaar card as e-KYC isn't allowed.

Is PAN card mandatory for ATM card?

Pan card is necessary for opening an account with banks and making some of financial transactions. ATM is used for taken money from any places. PAN card is required documents for applying all types of certificate that related to the money transactions.

Is KYC mandatory for bank account?

KYC or 'know your customer' is a mandatory verification procedure carried out by financial institutions with the goal of minimising illegal activities. Since 2004, the Reserve Bank of India has prohibited individuals to open a bank account, trading account or demat account without fulfilling the KYC procedure for KYC.

Why aadhar masking is mandatory?

Hence, in line with the prevention of money laundering cases and security of AADHAAR card data, AADHAAR masking is mandated by RBI. In May 2019, RBI updated the master direction on KYC guidelines.

How many Aadhaar numbers can one individual have?

One Aadhaar: Aadhaar is a unique number, and no resident can have a duplicate number since it is linked to their individual biometrics; thereby identifying fake and ghost identities which result in leakages today.

Can birth certificate be used as ID?

A birth certificate can only be used as evidence that an identity exists. The birth certificate should not be used as the sole form of evidence for asserting an individual's identity, as it does not provide any link to the person presenting it.