The Reserve Bank of India (RBI) has advised banks to follow a ‘KYC guidelines’, wherein certain personal information of the account-opening prospect or the customer is obtained. The objective of doing so is to enable the Bank to have positive identification of its customers. This is also in the interest of customers to safeguard their hard earned money.
The KYC guidelines of RBI mandate banks to collect three proofs from their customers.
General Requirements for Account Opening/Deposit Accounts
- Two latest passport size photographs of each of the account holders.
- Photo I.D. of each of the account holders.
- Proof of residence/Address proof.
- Copy of PAN CARD /Declaration on Form No. 60 or 61
- Birth Date proof i. e. birth certificate for minor for Minor a/c.
- Senior Citizens have to produce age proof to avail extra Interest Rate benefit in case of deposits.
For Valid Photo I.D. & Address Proof
Photo I.D. Proof (Any one of the following)
- Driving License
- Voter ID Card, Aadhaar Card, PAN Card
- Government Approved College/university I.Card
- Government/Semi government/Department I.Card
Address Proof. (Any one of the following)
- Electricity Bill (not more than 2 months old)
- Land line Telephone Bill (not more than 2 months old)
- Municipal Tax Bill, Aadhaar Card, Driving License
- Other proof acceptable to Bank.
Common Proof for Photo I.D and Address (Any one of the following)
- Aadhaar Card
- Driving Lic.
- Voter Id Card
- Nrega Card
Above documents are accepted for both proof. (If the current residential address is same as mentioned here)