So, you are an NRI and if you’re trying to get a credit card or a bank account, you will be asked KYC documents by any bank in India. What are these documents and how can an NRI provide them?
In a nutshell, there is no account opening possible without KYC documents in India. Thanks to India Govt’s recent updates. But what are these KYC documents?
KYC = Know Your Customer
Banks insist on getting these documents from their customers so they can profile them and have every customer verified. This is important for standardizing customer database and profiling them. Earlier, banks would allow you to start a bank account by someone who already has a bank account introduce you. Not any more.
What KYC documents are required to open a bank account?
NRI or not, the following are standard KYC documents every bank will ask for new accounts. You don’t need to provide everything but some of them are a must.
- Passport – Your valid, stamped passport that shows your permanent address.
- Voter’s Identity Card – Your voter’s ID card with identifiable photo and matching address details.
- Driving Licence – Valid driving license with photo and expiration date clearly seen.
- Aadhaar Card – Aadhaar card is a must in every documentation process in India. You can get it by either applying online or going to the nearest Akshaya Kendra.
- NREGA Card – Mahatma Gandhi National Rural Employment Guarantee Act Card that shows you are registered under it.
- PAN Card – Your Permanent Account Number card issued by the Income Tax Department.
As an NRI, if you have any of the above cards, you can start a bank account or get a credit card in India. Now, if you’ve have been abroad for a very long time and don’t have any of it, you can apply for most of them online and get it. If you are citizen of another country, then obviously, you won’t get any benefits.
You can apply for PAN card online here.
All the best!