- ONE ‘proof of identity’ and ‘proof of address’ and a recent photograph are enough to open a bank account
- Your Aadhar card, Driving License, Voters’ Identity Card, passport or NREGA Card – serves as both, proof of identity and proof of address. PAN Card serves only as proof of identity.
- If your current address is not the same as the proof submitted to your bank, a simple declaration of your new address is adequate
- Even without ‘proof of identity and address’ open a savings bank ‘small account’ by submitting a recent photograph and signature. Enjoy account balance of up to ₹ 50,000. Withdrawals of up to ₹10,000 per month and total credits of up to ₹ 1 Lakh per financial year
- Banks need to reconfirm KYC details only every 2, 8 or 10 years depending on your risk profile
- For grievance, if any, about the KYC process, please complain to your bank. If unsatisfied with bank’s response, complain to RBI’s Banking Ombudsman. For details visit https;//bankingombudsman.rbi.org.in
