Earlier, your PAN card was an important document without which opening a bank account was not possible. But now, a PAN card is not mandatory to open a bank account.
This article will discuss how you can ‘open bank account without PAN card’.
Yes, you can open a bank account without a PAN card. Banks allow you to open a Basic Savings Account or a Small Savings Account when you do not have a PAN card.
There are some restrictions to a small or basic savings account -
Limited deposit and withdrawal amounts, which may vary from bank to bank
No cheque or Debit Card facilities
Limitations on the number of transactions you can carry out in a day or a month that may be lower than a regular savings account
However, you can convert your small account into a regular savings account by submitting your PAN card later.
Generally, you need to submit an identity proof and an address proof to open a bank account. A list of documents you can submit if you do not have a PAN card is mentioned here. You may be requested to submit one or more of the following documents -
Aadhaar card
Voter’s card
NREGA card
Driving License
Passport
Utility bills (gas, electricity, etc.)
Ration card
Form 16
You might need to submit one or more of the documents mentioned above if you do not have a PAN card. If you are searching for ‘can I open bank account online without PAN card’, the process is fairly simple -
STEP-1: Go to your bank’s website or download their app. Go to ‘Open Savings Bank Account’. Once you click on it, you will get further instructions.
STEP-3: Enter your mobile number, and email ID, and upload the required documents.
STEP-4: Enter the OTP you get on your Aadhaar-registered mobile number.
STEP-5: You will then be prompted to enter your personal and professional details. You can choose ‘Basic Savings Account’ or ‘Small Savings Account’ as the account type, depending on the option provided.
STEP-6: To complete the account opening process, you will need to do a video KYC.
You can also open a bank account without a PAN card by visiting the bank branch. Here are the steps involved in it -
STEP-1: Locate your preferred bank’s nearest branch, and visit it.
STEP-2: Ask the officials to give you a form for opening a Basic Savings bank account. They will also mention the documents you will need to submit in place of the PAN card.
STEP-3: Fill out the form carefully and mention your current contact information. Submit photocopies of the requested documents with it. You may need to submit your passport-sized photographs as well.
STEP-4: The bank will contact you once your account is functional.
A basic savings account or a small savings account can be opened easily without a PAN card. It can be a good option to open such an account while you apply for a PAN card. Please note that only a savings account can be opened without a PAN card.
Due to the limitations on transactions and the inability to use Credit/Debit cards, the account may not give you the full benefits of a savings bank account. You can, however, convert your account into a regular savings account by submitting your PAN card at any time.
Yes, you can open an HDFC bank account without a PAN card. You will have to show your Form 16 if you do not submit your PAN card.
Yes, you can open a bank account in SBI under the Jan Dhan Yojana without a PAN card. You will just need your Aadhaar card to open such a bank account.
You can open a bank account with any government-recognized proof of identity and address. Neither your Aadhaar nor PAN is a mandatory document to open a bank account.
To open a bank account for a minor, the PAN card of the guardian will be necessary. The identity and address proof of the minor must be submitted as well.
When you open a bank account without your PAN card details, there are some restrictions on the transactions. You cannot make transactions above Rs.2 Lakh without a PAN card. If you do not own a PAN card, you will have to fill out a form and provide identity proof based on the rules and regulations of the bank.
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