How to Link PAN Card with Bank Account

PAN card, i.e. permanent account number, is provided by the Income Tax (I-T) department to every income tax payer. PAN card is compulsory and is required for doing most financial transactions.

The I-T department has made it mandatory to link your bank account with PAN. The main reason for this is that your income tax refunds will be credited directly to your bank account. If your primary bank account is not added to the PAN account, then you will not receive any refunds. You can add any type of account to PAN – savings, current, checking, cash, or overdraft. Earlier, you could get refund cheques sent to your registered residential address, but that option has now been taken away.

So now that you know why it's important to link PAN and bank account, here are the three main ways to do that:

How to Link PAN Card with Bank Account Online (Through Internet Banking)

Step 1: Log in to your bank's internet banking account.

Step 2: Enter your User ID and Password.

Step 3: Go to your profile. Look for menu options such as Service Requests, Services, or PAN Registration. Click on the relevant option.

Step 4: Select PAN Card Updation, Link Your PAN, Update PAN, or other similar relevant option.

Step 5: Enter your PAN Card number. You might also have to enter your date of birth as on the PAN Card and your registered e-mail ID.

Once you input the correct details, your PAN and bank account will get linked in 2 to 7 working days.

Note: Each bank's online portal will have different ways to reach the PAN-account linking page. The steps given above are generic and not specific to any bank.

To link your PAN card with any bank account by phone, call the customer care hotline of the bank. Follow the instructions given below to complete the linking process:

Step 1: Call your bank's customer care centre.

Step 2: Go through the IVR menu during the call. Select the right menu options.

Step 3: Connect to the customer care executive.

Step 4: Tell the executive you want to link your PAN to the account.

Step 5: Answer their customer verification questions.

Step 6: Tell them your PAN Card number.

You will get a service request number and confirmation at the end of the call. Check with the bank again if the numbers are not seeded within 7 working days.

Note: Each bank's phone banking/hotline has different IVR options. The steps given above are generic and not specific to any bank.

To link your PAN with account at a branch, follow the steps given below:

Step 1: Visit the branch in which you hold your account (Home Branch).

Step 2: Ask for PAN Card Update Form (KYC Form).

Step 3: Fill all the relevant details of the form correctly.

Step 4: Submit the form and a self-attested photocopy of your PAN Card. You might also be asked to write a letter addressing the Branch Manager, requesting for update of PAN in your account.

Note: Each bank's at-branch PAN update process might be different. The steps given above are generic and not specific to any bank.

Before you go to link your PAN and bank account, make sure you check if the two have already been linked earlier. For all you know, you may already have provided your PAN to the bank. To check that, log in to the income tax e-filing portal and go to your profile. Check if it already shows an account number, and whether it is the one that you regularly use.

Link PAN Card to Other Bank Accounts Online

Link PAN to Essential Accounts Online

*Disclaimer

News About link Bank Account and PAN Card

  • Rbi Says Pan, Aadhaar Mandatory For Opening Bank Accounts

    The Reserve Bank of India, the country’s central bank has made PAN and Aadhaar mandatory for opening bank accounts. The central bank which recently updated its master circular regarding KYC norms also omitted various documents that could be used for due diligence purposes. As per the updated circular, PAN and Aadhaar numbers must be quoted for new bank accounts. If the following details are not available, the customers need to provide proof which states that they have applied for these documents in the last six months. The circular further states that customers without Aadhaar and PAN numbers would be assigned ‘small accounts’ and would be closely monitored in order to ensure that no foreign transactions is carried out. It needs to be mentioned that the updated circular was in accordance with the changes carried out in the Prevention of Money Laundering rules vide Gazette notification GSR 538(E) dated June 1, 2017.

    23 April 2018

  • Linking Pan to Bank Account is not applicable for NRIs and PIOs

    The Unique Identification Authority of India (UIDAI) made it clear that persons of Indian origin (PIOs), non-resident Indians (NRIs) and overseas citizens of India (OCI) are not required to link their PAN number with bank accounts and other services.

    Registering permanent account number (PAN) with bank accounts is only applicable for those who are eligible to obtain Aadhaar, as per the Prevention of Money laundering Rules 2017 and the Income Tax Act.

    As most of the NRIs/PIOs/ OCIs are not eligible for Aadhaar enrolment, UIDAI instructed all central and state department and other implementation agencies not to seek Aadhaar as an identity proof from such individuals. They should collect it from only those who are eligible under Aadhaar Act, added the authority.

    It also asked the agencies to define a mechanism to verify the status of NRIs and PIOs.

    23 November 2017

  • PAN Compulsory for Savings Accounts

    The CBDT (Central Board of Direct Taxes) has made some changes in the income tax rules recently. It has asked all the banks in India to link the PAN number or Form 60 (if PAN is not available) by February 28, 2017 to all the existing bank accounts. BSBDA (Basic Savings Bank Deposit Accounts) are excluded from complying with this rule. The RBI had put restrictions on certain transactions where Form 60 or PAN was not available. Through a circular on December 15, 2016, RBI said that no transfer, debit transaction or other services will be permitted for accounts that fail to comply with the KYC rules. Form 60 can be availed from any bank branch or post office or people can download them from the websites of the post office or scheduled banks. People can apply for a PAN card online on the UTITSL or NSDL portals.

    23 January 2017

  • PAN Cards Made Compulsory for All Bank Accounts

    The government of India has urged all banks to ensure that the PAN (Permanent Account Number) or Form-60 in case PAN is not available is obtained in an effort to eliminate tax dodgers. Starting from the 28th of February this year, account holders in every bank must ensure that their PAN details are provided to the bank. Income tax regulations have gone through amendments and banks are now compulsorily required to obtain and link PAN or Form-60 in every existing bank account apart from the basic savings account in case they haven’t already done it, according a notification sent by the CBDT (Central Board of Direct Taxes).

    16 January 2017

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