KYC (Know Your Customer) is necessary but simple – for opening and maintaining your bank account

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  1. ONE ‘proof of identity’ and ‘proof of address’ and a recent photograph are enough to open a bank account
  2. 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.
  3. If your current address is not the same as the proof submitted to your bank, a simple declaration of your new address is adequate
  4. 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
  1. Banks need to reconfirm KYC details only every 2, 8 or 10 years depending on your risk profile
  1. 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
 
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