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What are KYC Documents?

KYC stands for ‘Know Your Customer’. KYC in Banking refers to the process of verifying documents to establish the identity of a customer. It is aimed at curbing malpractices such as money laundering, financial fraud, etc., by ensuring that the transactions are authentic. As per the Reserve Bank of India (RBI) guidelines, all banks, financial institutions as well as intermediaries, must undertake KYC verification of customers before offering them access to services. In this regard, the KYC documents list becomes important, which catalogues the officially valid documents for KYC verification.

Why are Documents Required for KYC?

To ensure that the customers availing the services are not involved in unethical financial transactions, banks and other financial institutions require you to submit certain documents. Presenting these documents is mandatory to establish your correct identity before making any transactions. The documents required for KYC in a bank are usually the same as those for other financial institutions. To understand this better, take a look at the full KYC documents list below.

List of Valid KYC Documents

To complete the KYC verification procedure, you would need to provide certain documents as proof. There are broadly two types of KYC documents that are accepted as proof. These include-

  • Proof of Identity: This set of documents are required for KYC verification to establish the identity of an individual.

  • Proof of Address: This KYC document type aims to serve as proof for the place of residence of an individual

  • Proof of Income: This KYC document serves as proof of your regular income and helps banks/financial institutions determine your credit card limit

In some cases, the documents required for bank KYC may overlap and serve as proof of identity and address both.

The common ‘Know Your Customer’ documents are listed below:

KYC Identity Verification Documents

KYC Address Proof Documents

KYC Income Proof Documents

Aadhaar Card

Aadhaar Card

Latest Salary Slips (preferably of last 3 months)

Driving licence

Driving licence

Income Tax Returns (preferably of last 2 years)

Passport

Passport

Bank Statements/ Passbook (preferably of past 6 months)

Voter ID card

Voter ID card

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PAN card

Registered Agreement for Lease or Sale of Residence

-

Photo ID Card issued by the Central/State Government

Ration Card

-

Photo ID Card issued by the Public Financial Institutions, Scheduled Commercial Banks, or Public Sector Undertakings

Utility bills not older than 3 months

-

Photo ID card issued by a University

Bank account statement not older than 3 months

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Photo ID card issued to members by professional bodies such as ICAI, ICSI, Bar Council, etc.

Self-declaration validating the address offered by a High Court or Supreme Court judge

-

Debit or credit card issued by a bank that has the name of the individual

Address proof issued by bank managers of Multinational Foreign Banks, Scheduled Commercial Banks and Scheduled Co-Operative Banks

 

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Address proof issued by a central/state government department, or any of the statutory or regulatory bodies

 

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ID card with address issued to members by professional bodies such as ICAI, ICSI, Bar Council, etc.

 

-

Land or municipal tax receipt

 

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Monthly pension payment records issued by ministries or public sector companies that have the address mentioned

 

 

Some popular banks that offer KYC verification services include the State Bank of India (SBI), Axis Bank, HDFC Bank, RBL Bank, etc. You can opt for either offline or online KYC services based on your convenience. If you wish to avail eKYC services offered by these banks, you can do that too. Depending on the process you opt for, you would need to submit the required documents for KYC in the form of hard copies or scanned copies to the bank. To know whether they are approved or not, you can check your KYC status online or offline by visiting the branch.

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FAQs on KYC Documents

✔️What KYC documents are required to open a bank account?

 The KYC documents for opening a bank account are as follows:

Identity Proof: Aadhaar Card, Passport, Voter ID card, driving licence, NREGA card, PAN card, Photo ID Card issued by the Central/State Government/Public Financial Institutions/Scheduled Commercial Banks/Public Sector Undertakings/professional bodies.

Address Proof: Aadhaar Card, Passport, Voter ID card, driving licence, Ration Card, Utility bills, bank account statement, address proof issued by bank managers of multinational/foreign banks, scheduled commercial banks, scheduled co-operative banks, state government, central government, or any of the statutory or regulatory bodies, land or municipal tax receipt, pension documents.

Income Proof: Latest salary slips of past 3 months, ITR of past 2 years, Bank statements/ Passbook updated with details of last 6 months

✔️Is an Aadhaar card a KYC document?

 Yes, an Aadhaar card is a KYC document and can be used both as a proof of identity and proof of address.

✔️How to verify KYC documents?

 To verify your KYC documents, you can use the online or offline channels offered by your preferred bank. You can also opt for eKYC verification, wherein you would need to submit only scanned copies of the documents. You can opt for any of the KYC Types as their processes are hassle-free and completely digitised.

✔️What documents are required for KYC update?

 To update your KYC, the documents you need to produce include an identity proof and address proof. You can check the full KYC documents’ list above and select the one you prefer to have your KYC updated.