Documents required
In addition to the completed account opening form, signature card and most important document (MID), the following documents are required (additionally, NOC from the lending bank(s) if applicable).
A) The documents required vary depending on the product proposition / constitution of the business entity.
B) Broadly, the applicants may be an individual, a proprietorship firm, a partnership firm or a Private Limited Company.
C) Non individuals
Individuals
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Proof of identity (PI) |
Proof of address (PA) |
| General requirements |
Any one of the following:
(i) Valid Indian passport
(ii) Photo PAN card
(iii) Voter's identity card
(iv) Valid driving license
(v) Photo ration card with photograph of the accountholder
(vi) Defence identity card
(vii) Identity card issued by a government department / government company to its employees which includes the date of birth.
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Any one of the following:
(i) Valid Indian passport
(ii) Landline or post-paid mobile / WLL telephone bill not more than 6 months old
(iii) Bank account / credit card statement (not more than 6 months old) or passbook (with entries not more than 6 months old)
(iv) Utility (water / electricity / gas) bill (not more than 6 months old)
(v) Ration card
(vi) Property tax bill
received from a government department (not more than 12 months old)
(vii) Pension payment order
/ book / card issued by the state / central government
(viii) Last available income tax assessment order or
PAN allotment letter carrying address of the account holder
(ix) Bill issued by a co-operative housing society for monthly dues (not more than 6 months old)
(x) Life insurance policy or premium renewal notice (not more than 12 months old)
(xi) Valid registered lease deed in the name of the account holder along with utility bill in the name of the landlord
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Non individuals
The categories included here list documents required for sole proprietorship firms, partnership firms and Private Limited Companies.
Sole proprietorship
Identification requirements – At the minimum the following information should be obtained prior to opening an account:
- Full legal name – (verification required)
- Business or trading address – (verification required)
- Nature of business
- Identification details of the proprietor as specified for individuals (if the proprietor is a non-individual, details will be required as specified for the relevant entity type in this document) – (verification required)
- Identification details of any other authorized signatories and power of attorney holders – (verification required)
Partnership firms
Identification requirements – At the minimum the following information should be obtained prior to opening an account:
- Full legal name – (verification required)
- Registration number, if applicable (verification required)
- Business or trading address – (verification required)
- Nature of business
- Identification details of all partners as specified for individuals (if any partner is a non-individual, details will be required as specified for the relevant entity type in this document) – (verification required)
- Names of any other authorized signatories and power of attorney holders – (verification required)
Verification requirements
PI and PA documents should be obtained for the partnership firm as well as for each of the partners and any other authorized signatories or power of attorney holders.
PI and PA requirements for the partners/authorized signatories/power-of-attorney-holders shall be as specified above for individuals (including requirement for a recent photograph).
In addition to the partnership deed with signatures of the partners matching those on the AOF (originals to be sighted as is the requirement for all other KYC documentation), following should be used to fulfil the PI requirements for the partnership firm:
- PAN card of the firm or registration certificate of the firm or any document listed above as being eligible as a PI document.
Any document listed above as PI & PA documents can be used as PI & PA requirements for the partnership firm
Note:
- All document copies to be verified against original
- The signing mandate on the account must not conflict with the partnership deed.
- Accounts will not be opened for partnership firms where an HUF is a partner
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Private / unlisted limited companies:
Identification requirements - at the minimum the following information should be obtained prior to opening an account:
- Full legal name – (verification required)
- Registration number (if applicable)
- Registered office in country of incorporation / registration (verification required)
- Business or trading address (if different from registered address) – (verification required)
- Nature of business
- Names of all directors (verification required for key directors)
- Names of authorized signatories and power of attorney holders (verification required)
Verification requirements
Following should be provided for verification purposes:
- Certificate of incorporation, memorandum and articles of association duly authenticated as a true copy by the company secretary
- PAN card of the company
- Appropriate board resolution authorising dealings with the bank (reference should be made to legal in case of any queries relating to content of the resolution and any related matters).
- Copy of the annual return filed with the registrar of companies to establish the shareholding pattern or a letter providing details of shareholding pattern, signed by the company secretary or chairman / managing director.
- List of directors duly signed off by the company secretary or chairman / director. Alternatively, reliance may be placed on the memorandum and articles of association (with a certified copy of form 32 filed with the registrar of companies being obtained if the names of directors do not tally with the names on the memorandum and articles of association or annual return).
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Documents that may serve as both PI and PA
- Certificate of Importer - Exporter Code
- PAN intimation letter issued by income tax department, bearing name and address of entity
- Copy of property tax / water tax bill / notice received from the government, not more than 12 months old
- Last available income tax / wealth tax assessment order received from the revenue department
- Sales / service tax registration certificate or intimation letter received for sales / service tax registration
- Valid shops and establishment licence
Documents that may serve as proof of address
- Premium renewal notice received from a general insurance company.
- Intimation of importer-exporter code received from directorate general of foreign trade
- Bank statement of account or pass book with existing banker (scheduled bank) listing entries of a period within the preceding 6 months (only as proof of address)
- Copy of electricity / water / gas bill, not more than 6 months old.
- Copy of landline or postpaid mobile / WLL phone bill not more than 6 months old.
Note:
- All document copies to be verified against original
- The signing mandate on the account must not conflict with the partnership deed
- Accounts will not be opened for partnership firms where an HUF is a partner
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