Need to open a bank account in any bank in India? Don’t have any valid identity proof or address proof? You can still open a savings bank account without having to furnish any documents as your identity proof and address proof.
To open a bank account, one needs to submit a ‘proof of identity and proof of address’ together with a recent photograph. However, individuals can open a bank account — Small Account — even if they do not have the necessary identity proof or address proof.
According to the Reserve Bank of India’s guidelines, all banks are require to collect proper “Know Your Customer (KYC)” documents from its customers. The list of valid documents for identity proof of any person includes Permanent Account Number (PAN) card, voter identity card, driving licence, Aadhaar card, MNREGA card and passport. Your address and identity with photo must be verifiable using any of these government-issued documents.
Small Account Savings Bank Account
The Reserve Bank of India allows individuals to open savings bank accounts without submitting any identity proof or address proof. Such savings accounts are referred to as “Small Account”. You can open a ‘Small Account’ bank savings account by simply submitting your recent photograph and putting your signature or thumb impression in the presence of the bank official.
Unlike the regular savings account, these ‘Small Accounts’ have certain restrictions.
- Balance in such accounts cannot exceed Rs 50,000
- Total cumulative deposits in one year should not exceed Rs 1,00,000
- Total withdrawal and transfers should not exceed Rs 10,000 in a month
- Foreign remittances cannot be credited to such accounts
- Such accounts remain operational initially for twelve months and thereafter, for another twelve months, if the account holder has applied for any of the valid documents that can be used as identity proof and address proof within one year of opening such account. The bank will review such account after twenty four months to see if it requires such relaxation on the KYC rules.
So, if you are new in town and have no document supporting your identity or address, just walk in to any bank with recent photographs and get your Small Account bank account opened immediately.
Ankur says:
Sir, I’m from Agra. I’ve no id proof, but none of bank is opening small account. What shall I do?
PaisaWise says:
Hi Ankur, You should talk to the branch manager of the bank(s) you approached. Banks must open a small account without any prejudice. If they refuse, provide them a written application and ask for a signed acknowledgement of refusal.
Ankur says:
Thanks a lot to reply ma’am/Sir! Good day!