A PAN Card is an important financial identification document used by banks and other financial institutions in India. When opening a bank account, the bank generally completes customer identification and KYC procedures, and PAN or the applicable alternative declaration may be required depending on the account and transaction.
The Reserve Bank of India’s KYC framework provides that, while establishing an account-based relationship with an individual, regulated entities obtain an officially valid identity document, PAN or the applicable Form 60, along with other information or documents required for customer due diligence.
This makes PAN particularly relevant when opening savings accounts, current accounts and certain other banking relationships. However, the exact requirement can vary according to the type of account, customer category and applicable KYC rules.
The PAN framework has also changed in 2026. New PAN application forms prescribed under the Income-tax Rules, 2026 apply to fresh PAN applications filed from 1 April 2026, while existing PAN numbers remain valid. The new rules also introduced Form 97 as the declaration replacing the earlier Form 60 for specified transactions where a person does not possess PAN.
This article explains PAN Card for Bank Account Opening, including when PAN is required, what documents may be needed, how students and minors can open accounts, what happens when a person does not have PAN, and how PAN is connected with bank account verification.
Is PAN Card Required for Opening a Bank Account?
PAN is an important part of KYC and financial identification for bank customers, but the requirement is not identical for every account or every customer.
Under the RBI’s KYC framework, banks and other regulated entities generally obtain PAN or the applicable declaration from an individual when establishing an account-based relationship.
Therefore, a customer opening a regular bank account should be prepared to provide PAN where required.
If the customer does not possess PAN, the applicable declaration mechanism may be available for specified transactions or circumstances. Under the Income-tax Rules, 2026, the earlier Form 60 mechanism has been replaced by Form 97 for specified transactions.
The bank can also ask for other KYC information depending on the account and customer profile.
Why Do Banks Ask for PAN?
PAN helps establish a customer’s financial and tax identity.
Banks may need PAN information for purposes such as:
- Customer identification and KYC.
- Reporting specified financial transactions.
- Tax-related reporting.
- Interest-related TDS requirements where applicable.
- Linking banking information with the customer’s financial identity.
- Complying with applicable income-tax requirements.
- Providing certain banking and investment services.
PAN is therefore not simply a card used for filing an Income Tax Return. It can also be relevant to a person’s broader financial relationship with a bank.
PAN Card and KYC for Bank Account Opening
KYC stands for Know Your Customer.
Before opening an account, a bank needs to establish the customer’s identity and other required information.
The RBI’s KYC framework provides for customer identification when starting an account-based relationship. For individuals, the bank may obtain an officially valid document, PAN or the applicable declaration, and other information required for customer due diligence.
Depending on the bank and account-opening method, KYC can be completed through different permitted channels, including:
- Face-to-face verification
- Aadhaar-based e-KYC where permitted
- Video-based Customer Identification Process
- CKYC-related processes
- Other permitted electronic document methods
The exact process can vary by bank and account type.
PAN Card Documents Required for Bank Account Opening
The documents required depend on the account type and the customer’s circumstances.
A bank may ask for information or documents such as:
| Requirement | Common purpose |
|---|---|
| PAN or applicable declaration | Tax and financial identification |
| Officially Valid Document | Identity and address verification |
| Photograph | Customer identification where required |
| Mobile number | Account communication and authentication |
| Email address | Digital communication where applicable |
| Address details | KYC and correspondence |
| Additional documents | Depending on account type and customer profile |
The RBI’s KYC framework allows certain officially valid documents and electronic equivalents to be used for customer identification, subject to the applicable conditions.
Customers should follow the document list provided by their bank rather than assuming that the same documents are required for every account.
Can You Open a Bank Account Without PAN?
In some circumstances, a person who does not possess PAN may be able to provide the applicable declaration instead of PAN for specified transactions.
Under the Income-tax Rules, 2026, Form 97 replaces the earlier Form 60 mechanism for specified transactions where a person does not possess PAN.
However, this should not be interpreted as a general rule that every bank account can always be opened without PAN.
The bank still has to follow applicable KYC and income-tax requirements. The account type, transaction and customer’s circumstances can determine whether PAN is required or whether the applicable declaration can be accepted.
A customer should therefore ask the bank for the current requirement applicable to the particular account.
Form 97 for Bank-Related Transactions
The Income-tax Rules, 2026 provide a new declaration mechanism for persons who do not possess PAN.
Form 97 applies to specified transactions covered under the relevant rules. The notified rules include specified banking-related transactions, including opening certain accounts other than basic savings and time-deposit accounts.
The form requires information such as the person’s name, date of birth, father’s name, address and transaction-related details.
Where the person’s estimated total income exceeds the applicable maximum amount not chargeable to tax, the rules require the person to apply for PAN and provide the prescribed information relating to that application.
Therefore, Form 97 should not be treated as a universal replacement for PAN in every banking situation.
PAN Card for Savings Account Opening
A savings account is one of the most common bank accounts opened by individuals.
When opening a savings account, the bank generally performs KYC and may require PAN or the applicable declaration according to the customer’s situation and the transaction involved.
The customer may be asked to provide:
- PAN.
- Identity and address information.
- Mobile number.
- Photograph where required.
- Additional KYC details.
- Other information requested by the bank.
For digital account opening, the bank may use permitted electronic KYC methods.
The precise requirements can differ between banks and account products.
PAN Card for Current Account Opening
Current accounts are generally used for business or commercial banking activities.
The KYC requirements can therefore be more detailed than those applicable to a basic personal savings account.
Depending on the customer, a bank may request:
- PAN of the individual or entity,
- Identity and address documents,
- Business-related documents,
- Registration information,
- Proof relating to the nature of business,
- Details of authorised persons,
- Other documents required under KYC and account-opening rules.
The RBI’s KYC framework specifically provides for additional information concerning the nature of business and financial status where required for customer due diligence.
PAN Card for Bank Account Opening for Students
Students can open bank accounts subject to the bank’s account-opening rules.
For an adult student, PAN can be provided where required.
A student who does not yet have PAN may have to follow the applicable bank and tax requirements for the particular account.
Students should not apply for another PAN merely because a bank asks for PAN. If a student already has a PAN, the same PAN should be used for financial accounts.
An adult student who has never been allotted PAN may be eligible for Instant e-PAN if the current conditions are satisfied. The Income Tax Department states that Instant e-PAN is available to eligible individuals who have no existing PAN, have valid Aadhaar linked with an active mobile number and have access to DigiLocker.
PAN Card for Minor Bank Account Opening
A minor can have a bank account subject to the bank’s applicable account rules.
The KYC process for a minor can involve the minor’s information along with the parent or guardian’s information, depending on the account structure and applicable requirements.
A minor should not use Instant e-PAN simply to obtain PAN for bank account purposes. The Income Tax Department specifically excludes minors from the Instant e-PAN service.
Where PAN is required for the minor’s account, the bank’s prescribed procedure should be followed.
Parents or guardians should provide accurate information and documents requested by the bank.
PAN Card for Joint Bank Account
A joint bank account can have more than one account holder.
Each account holder may have to provide the applicable KYC information and documents.
PAN requirements can depend on the account structure and the bank’s procedures.
A joint account holder should not use another person’s PAN simply because the account is jointly held.
Where PAN is required, each customer should provide the PAN belonging to that customer.
The bank may also require identity, address and other KYC information from all relevant account holders.
PAN Card for Senior Citizens Opening a Bank Account
Senior citizens opening bank accounts are also subject to the applicable KYC requirements.
PAN may be required depending on the account, transactions and tax-related circumstances.
Senior citizens should keep their PAN and KYC documents available when opening accounts or updating an existing banking relationship.
For certain tax-related banking situations, PAN can also be relevant to interest income and TDS compliance.
PAN Card for NRI Bank Account Opening
NRIs and other non-resident customers can have different banking requirements depending on the type of account being opened.
For an NRI bank account, the bank may request PAN along with passport, overseas address information and other documents applicable to the account and customer category.
The exact documentation depends on the type of NRI account and the bank’s current KYC procedure.
NRIs should therefore check the bank’s current requirements before beginning an online or branch-based account-opening process.
PAN Card for Online Bank Account Opening
Many banks offer digital account-opening facilities.
The customer may be able to complete KYC electronically through permitted methods.
An online application can generally involve:
1. Select the Account
Choose the savings, salary, current or other account product.
2. Enter Personal Details
Provide the name, date of birth, address and contact information requested by the bank.
3. Provide PAN Details
Enter the PAN where required.
4. Submit KYC Information
Provide the permitted identity and address documents or complete electronic verification.
5. Complete OTP Verification
The bank may use OTP-based authentication for applicable digital processes.
6. Complete Video KYC Where Required
Some digital account-opening processes use video-based customer identification.
7. Submit the Application
Review the information and submit the account-opening request.
8. Complete Any Remaining Bank Formalities
The bank may request additional information depending on the account and customer profile.
The exact online process differs between banks.
PAN Card and Bank KYC Verification
PAN is only one part of the bank’s KYC process.
A customer should not assume that providing PAN alone completes KYC.
The bank may also verify:
- Identity.
- Address.
- Date of birth.
- Photograph where applicable.
- Contact details.
- Customer category.
- Nature of business where applicable.
- Financial information where required.
The RBI’s KYC framework allows banks and other regulated entities to use specified electronic methods, including video-based customer identification and permitted e-KYC procedures.
What If PAN Name Does Not Match Bank Account Name?
A mismatch between PAN details and bank records can create verification issues.
For example, the name in the PAN record may differ from the name provided to the bank.
Before opening an account, customers should check that:
- Full name is entered correctly.
- Date of birth is accurate.
- PAN number is correct.
- Address information is accurate.
- The name used for KYC is consistent with supporting documents.
If the PAN record itself contains an error, the customer should use the applicable PAN correction process rather than obtaining another PAN.
If the bank’s record is incorrect, the bank should be approached for the appropriate customer-data update.
Can Aadhaar Be Used Instead of PAN for Bank Account Opening?
Aadhaar and PAN serve different purposes.
Aadhaar can be used as an identity document or for permitted e-KYC processes subject to applicable rules, while PAN is a tax and financial identification number.
The RBI KYC framework specifically lists PAN or the applicable declaration separately from the officially valid identity document requirements.
Therefore, a customer should not automatically assume that providing Aadhaar removes every PAN requirement.
If the bank requires PAN for the account or transaction, the customer must follow the applicable PAN requirement or, where legally permitted, the relevant declaration procedure.
PAN Card and Bank Interest Income
PAN becomes particularly relevant when customers receive interest from bank deposits or accounts.
Tax deducted at source may apply to certain interest payments depending on the applicable tax rules and the customer’s circumstances.
The Income Tax Department also provides tax-related declarations such as Form 15G and Form 15H for eligible taxpayers seeking non-deduction of TDS on certain interest income, subject to the applicable conditions.
Providing accurate PAN information helps the bank associate tax-related reporting with the correct customer.
Customers should not submit an incorrect PAN merely to avoid or change tax reporting.
PAN Card and Bank Account TDS
Banks may deduct TDS on certain interest payments when the applicable conditions are satisfied.
The customer’s PAN can be relevant to tax deduction and reporting.
A customer should therefore ensure that the PAN provided to the bank is correct and belongs to the actual account holder.
Where PAN information is missing or incorrect, tax-related reporting can be affected according to the applicable rules.
The exact TDS treatment depends on the type of income, account, customer and applicable tax provisions.
PAN Card for Bank Account and Tax Records
A PAN helps connect financial information with the taxpayer’s tax identity.
This can be relevant when financial information is reported to the Income Tax Department under applicable reporting requirements.
For example, the Income Tax Department’s current tax information systems include TDS and specified financial transaction information as part of the taxpayer’s broader tax records.
Customers should therefore provide accurate PAN information to banks and other financial institutions whenever required.
PAN Card for Bank Account Opening After 1 April 2026
The PAN application framework changed from 1 April 2026.
Fresh PAN applications filed from this date use the new forms prescribed under the Income-tax Rules, 2026.
The Income Tax Department confirms that existing PAN numbers remain valid and are not affected merely because the new forms were introduced.
Therefore, a person opening a bank account in 2026 does not need a new PAN simply because the PAN application forms have changed.
If the customer already has PAN, the existing number should be used.
What If You Do Not Have PAN While Opening a Bank Account?
A person without PAN should first determine whether PAN is required for the particular account or transaction.
Where the applicable rules permit a declaration instead of PAN, the prescribed declaration can be used.
Under the 2026 tax rules, Form 97 replaces the earlier Form 60 for specified transactions.
However, if the applicable rules require the customer to obtain PAN, the person should apply for PAN rather than assuming that Form 97 can be used in every situation.
The bank may also have additional account-opening requirements under its KYC policy.
How to Apply for PAN Before Opening a Bank Account
If a customer needs PAN before opening a bank account, the application route depends on eligibility.
An eligible adult individual who has never been allotted PAN may be able to use Instant e-PAN.
The current Instant e-PAN facility is:
- Free of cost.
- Available online.
- Based on Aadhaar authentication.
- Dependent on an Aadhaar-linked active mobile number.
- Available only to eligible individuals without an existing PAN.
- Not available to minors.
If the applicant is not eligible for Instant e-PAN, the applicable regular PAN application process should be followed.
Can a Bank Open an Account Without PAN?
The answer depends on the account type, transaction and applicable rules.
The RBI KYC framework recognizes PAN or the applicable declaration as part of customer due diligence for individuals.
The 2026 Income-tax Rules also provide a declaration mechanism for specified transactions where the person does not possess PAN.
However, these provisions should not be interpreted as a guarantee that every bank must open every type of account without PAN.
A bank can apply the KYC requirements applicable to the particular account and customer.
PAN Card and Basic Savings Bank Account
Basic savings accounts have specific characteristics and may have different requirements from other account types.
The new 2026 tax rules distinguish certain transactions involving basic savings accounts from other account-opening transactions when defining the scope of the declaration mechanism.
Therefore, customers should not assume that the rules applicable to a standard savings account, current account and basic savings account are identical.
The bank should be contacted for the current account-specific requirement.
PAN Card for Salary Account Opening
Employees opening salary accounts may be asked to provide PAN along with the other KYC information required by the bank.
A salary account can later be relevant to income-tax records because salary income and TDS may need to be reported in the employee’s ITR.
The employee should therefore make sure that the PAN supplied to the bank belongs to them and that the name is correctly recorded.
PAN Card for Business Bank Account
Businesses and other entities have separate PAN and KYC requirements.
When opening a business account, the bank can request:
- Entity PAN.
- Registration or incorporation documents.
- Address information.
- Details of authorised persons.
- PAN and KYC information of relevant individuals.
- Business activity information.
- Other documents required under customer due diligence.
The RBI KYC framework provides for obtaining PAN or the applicable declaration for relevant entities and authorised persons, along with other entity-related documents.
The exact requirements depend on the legal structure of the business.
Common PAN Problems During Bank Account Opening
1. PAN Number Is Entered Incorrectly
A single incorrect digit can cause the bank’s verification to fail.
2. Name Mismatch
The customer’s name may differ between PAN and the bank’s application.
3. PAN Already Used With Different Details
Inconsistent information across financial records can require additional verification.
4. Customer Has Lost the PAN Card
Losing the physical card does not cancel the PAN. The existing PAN number should continue to be used.
5. Customer Applies for a Second PAN
A person who already has a PAN should not apply for another PAN merely because the card is lost or because a bank asks for a PAN.
6. Assuming Aadhaar Always Replaces PAN
Aadhaar and PAN have different functions. The bank’s current KYC requirements should be followed.
7. Using an Incorrect Form 97 Declaration
Form 97 applies only to specified transactions and circumstances under the 2026 rules.
Important Checklist
Before opening a bank account, customers can keep the following information ready:
- PAN Card or PAN details.
- Aadhaar or another accepted identity document.
- Address information.
- Active mobile number.
- Email address where required.
- Photograph where applicable.
- Date of birth information.
- Business documents for business accounts.
- Parent or guardian details for applicable minor accounts.
- Additional documents requested by the bank.
Keeping the information accurate can make the KYC process smoother.
Key Points
The most important points are:
- PAN is an important part of banking KYC and financial identification.
- Banks generally obtain PAN or the applicable declaration in the circumstances prescribed by KYC and tax rules.
- PAN is not the same as an identity document such as Aadhaar.
- Aadhaar can be used for permitted KYC methods subject to applicable rules.
- A person without PAN may use the applicable declaration for specified transactions where permitted.
- Form 97 replaces the earlier Form 60 under the 2026 Income-tax Rules for specified transactions.
- Form 97 is not a universal substitute for PAN in every banking situation.
- Existing PAN numbers remain valid after the 2026 PAN form changes.
- A lost PAN card does not mean a new PAN should be obtained.
- Minor accounts can have separate KYC and PAN requirements.
- Joint account holders may need to provide their own applicable KYC information.
- Current account and business account requirements can be more detailed.
- PAN information can be relevant to interest income and TDS reporting.
- Customers should provide the correct PAN to their bank.
- The bank’s current account-opening and KYC requirements should be followed for the particular product.
Conclusion
A PAN Card for Bank Account Opening is important because PAN forms part of the financial and tax identification process used in banking. The RBI’s KYC framework provides for PAN or the applicable declaration along with identity and other customer due diligence requirements when establishing an account-based relationship.
The rules in 2026 also include an important change in the declaration mechanism. Form 97 under the Income-tax Rules, 2026 replaces the earlier Form 60 for specified transactions where a person does not possess PAN. However, this does not mean that every bank account can automatically be opened without PAN. The account type, transaction, and customer’s circumstances determine the applicable requirement.
Customers who already have PAN should use their existing PAN when opening a bank account. They should not apply for another PAN because of a lost card, name correction or a change in the PAN application forms. Existing PAN numbers remain valid under the 2026 framework.
Before opening an account, it is useful to keep PAN, identity and address documents, mobile information and other applicable KYC details ready. For online accounts, customers should also complete the bank’s permitted digital verification process and provide accurate information throughout the application.
FAQs
1. Is PAN mandatory for opening a savings account?
PAN may be required depending on the account and applicable KYC or tax rules. Where permitted, an applicable declaration may be used in specified circumstances.
2. Can I open a bank account without PAN in 2026?
In specified situations, a person without PAN may use Form 97 under the 2026 rules. However, it is not a universal replacement for PAN, and the bank’s account-specific requirements still apply.
3. Do I need a new PAN for opening a bank account after April 2026?
No. If you already have a valid PAN, you should use the existing PAN. The introduction of new PAN application forms from 1 April 2026 does not invalidate existing PAN numbers.