Q: What are the basic KYC requirements for opening a bank account?
A: You need valid identification (Aadhaar, PAN, or passport), proof of address, and sometimes proof of occupation or income.
Q: Is PAN required for bank account opening?
A: PAN is not always mandatory, but banks often request it for tax compliance and higher transaction limits.
Q: What is the minimum age to open a bank account?
A: You must be at least 18 years old to open an account independently. Minors can open accounts with parental consent.
Q: How long does bank account opening take?
A: With online KYC, accounts can be opened in 15-30 minutes. Physical verification may add 1-2 business days.
Q: Can NRIs open bank accounts in India?
A: Yes, NRIs can open accounts with additional documentation like passport and visa stamps.
Conclusion
Meeting KYC requirements is straightforward. Banks have streamlined the process to make account opening quick and convenient for all customers.