Can I open a bank account in India without a PAN card?

Yes, you can open a bank account in India without a PAN card. However, the type of account you can open will be limited. You can open a small account, also known as a basic savings deposit account (BSDA). This type of account has a limit on the amount of money you can deposit and withdraw each month, and it may also have other restrictions.

Benefits of opening a small account:

• You can open a small account without a PAN card.
• You can use a small account to deposit and withdraw money, as well as to send and receive money transfers.
• Small accounts are typically free to open and maintain.

Limitations of small accounts:

• Small accounts have a limit on the amount of money you can deposit and withdraw each month. The limit varies from bank to bank, but it is typically around ?50,000 per month.
• Small accounts may not allow you to issue checks or use a debit card.
• Small accounts may have other restrictions, such as a limit on the number of transactions you can make per day or month.

Eligibility for opening a small account:

To open a small account, you must be a resident of India and you must be at least 18 years old. You will also need to provide the bank with proof of identity and address. You can use any of the following documents:

• Aadhaar card
• Voter ID card
• Passport
• Driving license
• NREGA job card
• Letter from the National Population Register

You may also need to provide the bank with a photograph.

How to open a small account:

To open a small account, you can visit a branch of any bank that offers this type of account. You will need to fill out an account opening form and provide the bank with the required documents. Once your account is opened, you will receive a passbook. You can use your passbook to deposit and withdraw money from your account.

Upgrading a small account to a regular savings account:

Once you have obtained a PAN card, you can upgrade your small account to a regular savings account. This will give you access to more features and benefits, such as a higher deposit and withdrawal limit, the ability to issue checks, and the ability to use a debit card.

Conclusion:

If you do not have a PAN card, you can still open a bank account in India by opening a small account. Small accounts have some limitations, but they are a good option for people who need a basic bank account. Once you have obtained a PAN card, you can upgrade your small account to a regular savings account.