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How to open a bank account online without pan card

In India, it is not feasible to register an online bank account without a PAN card since the Reserve Bank of India (RBI) requires the PAN card as a requirement document. The Income Tax Department of India issues PANs (Permanent Account Numbers), which are distinct 10-character alphanumeric identifiers.

There are a few instances, nonetheless, in which opening a bank account is possible without a PAN card:

1. Small Accounts

According to RBI guidelines, those who meet the following requirements can create “small accounts” without a PAN card:

  • The total amount credited to the account in a given year should not be more than ₹1 lakh (₹100,000).In a given month, the total amount of withdrawals and transfers should not surpass ₹10,000.At no time should the amount in the account be more than ₹50,000

You must present a legitimate form of identification and proof of address in order to open a modest account.

Pradhan Mantri

How to open a bank account online without pan card

2. Accounts for Jan Dhan Yojana (PMJDY)

People do not need a PAN card to open a zero-balance bank account under the PMJDY scheme. These accounts do, however, have some restrictions on balances and transactions. You must present a legitimate form of identification and proof of address in order to open a PMJDY account.

3. Bank Accounts Based on Aadhaar

Aadhaar-based bank accounts are provided by some banks and can be opened with your Aadhaar card serving as the primary form of identification. These accounts, however, can have transaction restrictions and ask you to provide further paperwork or link your PAN card thereafter.

It’s crucial to remember that even if you can create a bank account in the situations mentioned above without a PAN card, using one is still advised for financial transactions and to take advantage of other banking services. If you earn more than the taxable limit overall, you must also link your bank account to your PAN card.

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If you do not currently possess a PAN card, you can apply for one online via the website of the Income Tax Department or through PAN service centers that are authorized.

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