KYC stands for Know your Customer. The banks have made it mandatory to submit KYC forms either while opening an account or later through a separate form. In this article, we will learn the details about KYC, how to fill SBI KYC form, and other important information.
What is KYC?
KYC means Know Your Customer and sometimes it is also referred to as Know Your Client. It is mandatory when any client or customer is opening an account with the bank.
KYC acts as proof of the identity of the client who is opening an account with the bank. Also, the client or customers need to update their LYC details to the bank when the bank conducts the Periodic Updation Process.
In other words, we can say that the bank must ensure that their customers are genuine with valid information.
Now we have a basic idea about KYC. lets see How you can download SBI KYC form.
Download SBI KYC Form
You can visit your nearest SBI branch and get the form. if not visit the link SBI KYC Form for individuals and download it. For Non-Individuals visit the link to download the form.
Documents Required while filling SBI KYC Form
We need to get the documents ready before filling KYC form. here is the list of valid documents.
Documents for Proof of Identity
- PAN Card with Photograph (mandatory)
- Driving License
- Voter ID
- Identity card /document with applicant photo issued by Central/State Government and its departments, College affiliated to universities, Professional Bodies such as ICAI, ICWAI, etc., Credit/Debit Card issued by banks
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Documents for Proof of Address
- Ration card with address
- Registered Lease /sale agreement of Residence
- Driving Licence
- Voter Identity Card
- Latest Bank Account statement/Passbook
- Landline telephone bill not more than 3 months old
- Latest electricity bill or gas bill
- Self declaration by High Court or Supreme Court Judges
- Proof if address issued by bank managers or Gazetted Officers
- Identity Card or document with address issued by Central/State Government and its departments, College affiliated to universities, Professional Bodies such as ICAI, ICWAI, etc.
- Insurance copy with address
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How to Fill SBI KYC Form?
It is very easy to fill SBI KYC form. follow the steps below and you will be able to complete it in only a few minutes.
- If you look at the KYC form it consists of three sections A,B and C.
- Section A contains your identity details like the Name of Applicant, Father’s Spouse Name, gender, marital status, date of birth, nationality, status, PAN, and your Photograph.
- Fill All the details in section A and move to Section B.
- Section B consist of your address details like Address for correspondence and permanent, Proof of address to be provided, contact details like mobile number ,email ID.
- Fill all the required details under section B and proceed to last section i.e. .C
- Section C contains details like Your Gross Annual Income, occupation, Politically exposed or not, declaration and signature of the applicant.
After filling all the sections, submit it to the bank officials they will verify the details and will update the same to your Bank Account. your account is now KYC verified.
Important Points to be noted before submitting KYC form
- For the proof of identity you need to submit PAN Card along with one address proof.
- The proof of address in the name of the spouse may be accepted.
- You have to submit the copies of the original documents after being self-attested by you. Make sure you carry original documents along with you in case the bank officials ask to show them.
- Fill the form in English and in Block Letters with Black Ink.
We have learned how to fill SBI KYC form and the also the documents required to fill this form.
1. Is there any fee for KYC verification?
You do not have to pay any fee for KYC verification. Its completely free.
2. How much time it takes for KYC verification?
If it is done online it will take less than one day. if it is offline it may take 5 to 7 working days.