What do you mean by KYC Documents?

KYC, which stands for ‘Know Your Customer’, refers to the process of verifying documents to establish the identity of a customer. It is aimed at curbing 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.

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

Aadhaar Card

Aadhaar Card

Driving licence

Driving licence

Passport

Passport

Voter ID card

Voter ID card

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

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

Credit or debit cards 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

 

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

 

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

 

Land or municipal tax receipt

 

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 service 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.

Frequently Asked Questions About 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.
  • ✔️Is the Aadhaar card a KYC document?

    Yes, the 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. The process is 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 an address proof. You can check the full KYC documents’ list above and select one you prefer to have your KYC updated.

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