Sbi KYC Form

KYC stands for "Know Your Customer." In 2002, the RBI mandated KYC for all banks. The Reserve Bank of India (RBI) conducts KYC to identify clients. RBI collaborates with a number of banks and other financial entities. This KYC details updation procedure aids in the security of the bank's services.

Sbi online kyc update new rules

  • Customers will be able to submit papers for KYC details updation via email or post, according to the State Bank of India (SBI). On May 1, 2021, SBI announced via its official Twitter handle that clients will no longer need to visit a branch to update their KYC information.
  • Due to an increase in Covid-19 cases and the resulting lockdowns in multiple states, SBI has taken this move, according to the bank. Previously, account holders had to personally visit the branch with their KYC documents.
  • For KYC details updation, customers must email or mail evidence of address and identification to their bank office. Customers who choose the online option must transmit the needed documents to the branch's mail address using their registered email address.
  • SBI responded to a customer's query with a tweet that said, "Only if a KYC update is necessary in your account and the branch has contacted you, may you scan and submit your KYC documents to the branch's email address. Please ensure that the email is sent from the email address associated with your bank account."

What is the significance of SBI KYC details updation form?

For banks to keep track of their customers' information, KYC details updation is critical. This service keeps clients' information up to date and ensures that they receive the best service possible. The fundamental goal of KYC requirements is to prevent criminal actors from using the system to launder money. It serves as a deterrent to illicit acts. When a client or customer of a bank returns after a long time, it is vital to identify and authenticate their identification.

How can I download SBI KYC Form pdf?

Follow the steps to download SBI KYC Form PDF format.

  • Visit the SBI's official website

  • Go to the section on forms.

  • Select SBI KYC forms from the list of forms.

  • Individuals should look for B-069-13-KYC Form.

  • Download the SBI KYC Form PDF format.

  • Then, in Acrobat Reader, open the SBI KYC Form PDF. Then press Ctrl + P to print it. Complete the form and deliver it to the bank.

Sbi online kyc update process

To update your KYC details online follow the carefully steps as mentioned below:

  • To begin, you must first enter your name.

  • Enter the name of your father or spouse.

  • Select your gender now.

  • Select the Martial status option. (single/married)

  • Put your date of birth in the box below.

  • Choose a nationality.

  • Choose a status. (Resident/non-resident/foreign)

  • Enter your PAN (Personal Identification Number).

  • You must now input your UID (unique identifying number) or Aadhaar number.

  • Enter your evidence of identity now.(e.g., a PAN card)

  • Fill up your mailing address.

  • Enter your contact information, such as your phone number, cell number, fax number, and email address.

  • Fill in your permanent address now.

  • You must provide documentation of a permanent address.

  • Fill up the blanks with your annual income.

  • Enter your profession now.

  • Select a person who is politically exposed (it is optional)

  • Fill in any more information.

  • Date of submission should be entered.

So that's how you may update your SBI KYC forms online. Make sure to download and print the SBY KYC Form PDF format. After that, fill out the application form as needed and attest the essential papers before submitting it online to the SBI bank account.

List of people who have the authority to certify the papers

1. A Notary Public, a Gazetted Officer, or the Manager of a Scheduled Commercial/Cooperative Bank or a Multinational Foreign Bank (Name, Designation & Seal should be affixed on the copy).

2. Authorized personnel of scheduled commercial banks registered in India, Notary Public, Court magistrate, Judge, and Indian Embassy/Consulate General in the nation where the client resides are authorised to attest the documents in the case of NRIs.

Frequently asked questions

What is e-KYC and how does it work?

  • The term "e-KYC" stands for "electronic KYC." Only individuals with Aadhaar numbers are eligible for e-KYC. When you use the e-KYC service, you must give your explicit approval to the Unique Identification Authority of India (UIDAI) to release your identity/address to bank branches/business correspondents via biometric authentication (BC).
  •  The UIDAI then electronically sends your data to the bank/BC, which includes your name, age, gender, and photograph. Under PML Rules, the information submitted through the e-KYC process is allowed to be treated as a "Officially Valid Document" and is a valid process for KYC verification.

IS SBI KYC a must-have?

Yes, KYC details updation is required for all SBI bank accounts, both savings and current.

Is it possible to do my SBI KYC online?

You can submit your SBI KYC update form request online as well.

How can I get a copy of the SBI KYC PDF form?

Go to the SBI official website and look for the B-069-13-KYC Form for Individual under the forms section. Complete the form and submit it.

Which documents are taken as valid proof of address?

These documents are recognised as proof of identity/address for updating KYC, according to the SBI website:

For individuals

  • Passport

  • Voter's Identity Card

  • Driving License

  • Aadhaar Letter/Card

  • NREGA Card

  • PAN Card

  • Any one document towards proof of identity and proof of address (permanent or current).

For minors

In the case of minors, ID proof of the person operating the account must be supplied if the child is under the age of ten. When a minor operates an account on their own, the same KYC procedures for identification and address verification as for any other individual apply.

Can the KYC paperwork for joint account holders be different?

Yes, as long as each person provides the Bank with a set of KYC documentation.

What is e-KYC based on Aadhaar?

Aadhaar-based e-KYC is an online tool that allows first-time mutual fund investors to complete their KYC using their Aadhaar number. This is a fully paperless electronic service.

Who can access the e-KYC service based on Aadhaar?

This service is available to all first-time mutual fund investors who have not completed the KYC process and have a valid Aadhaar number.

What happens if i fail to submit SBI kyc forms when opening an account?

The bank may be unable to open your account if you do not supply the needed KYC documentation.

Is KYC necessary for sending remittances even when the person does not have a SBI bank account?

Yes. All persons wishing to make domestic remittances of Rs. 50,000 or more, as well as all foreign remittances, must complete a KYC process.

Do I have to provide KYC documents for each bank account I open, even if I've already provided confirmation of identity and address?

No, if you have an account with a bank that is KYC compliant, you do not need to provide documentation to open another account with the same bank.

Is KYC required for credit, debit, smart, or gift cards?

Yes. For credit/debit/smart card purchases, as well as add-on/supplementary cards, a complete KYC process is required.

Can I buy a Demand Draft, Payment Order, or Traveler's Cheque with cash if I don't have a KYC?

Demand Drafts, Payment Orders, and Travellers Cheques for amounts greater than Rs.50,000/- can only be issued by debiting the customer's account or against cheques.

Do I have to provide KYC documents to the bank when I buy third-party goods from them (such as insurance or mutual funds)?

  • Yes, clients who do not have bank accounts (known as walk-in customers) must present proof of identity and address when purchasing third-party items from banks if the transaction is worth more than Rs.50,000. 
  • For bank's own clients purchasing third-party items, KYC is not be required. Instructions to make payment by debit to customers' accounts or against cheques for remittance of funds/issue of travellers' cheques, sale of gold/silver/platinum, and the requirement of quoting PAN number for transactions of Rs.50,000 and above would apply to both bank customers and walk-in customers purchasing third-party products from banks.

Why do i need to update my KYC details again?

KYC records must be updated on a regular basis by banks. This is part of their continuing bank account due diligence. Depending on the bank's risk judgement, the frequency of such updates would vary from account to account or between categories of accounts. Periodic record updates also aid in the prevention of client account fraud.