KYC Update is mandatory as per RBI Guideline. Every customer is required to update KYC periodically. Not adhering to RBI guidelines may lead to account suspension and various other problems.
This clearly means that keeping your Know Your Customer (KYC) details updated is crucial for hassle-free banking. If you’re an SBI customer, you might need to update your KYC periodically to comply with RBI regulations and ensure uninterrupted banking services.
But can you do it online? Absolutely! In this guide, we’ll walk you through the process of updating your KYC in SBI online and offline, so you can keep your account running smoothly.
What Is KYC And Why Is It Important?
Understanding KYC
KYC (Know Your Customer) is a mandatory process where banks verify customer identity and address details. It helps prevent fraud, money laundering, and unauthorized transactions.
Why Do You Need To Update KYC?
SBI may ask you to update your KYC details for various reasons:
- Periodic verification as per RBI guidelines.
- Change in personal details like address or phone number.
- Reactivation of dormant or inactive accounts.
- Enhancing account security and compliance.
How To Check If Your KYC Needs An Update?
SBI typically notifies customers regarding KYC updates via SMS, email, or notifications from the bank. You can verify by accessing your SBI online banking account or going to the nearest branch.
Documents Required For SBI KYC Update
For Individuals
To update your KYC, you’ll need to submit any of the following documents:
- Identity Proof: PAN card, Aadhaar card, Voter ID, Passport, Driving License
- Address Proof: Aadhaar card, Utility bill (electricity, water, gas), Passport, Rent agreement
- Recent Passport-sized Photograph
For Minors
- Birth certificate or school ID
- Parent/guardian’s KYC documents
For Senior Citizens
- Pension payment order
- Senior citizen card
For NRIs
- Passport
- Overseas address proof
- VISA/OCI/PIO card
How To Update KYC In SBI Online?
If visiting a branch sounds like a hassle, you’ll be happy to know that SBI allows online KYC updates for existing customers. SBI offers different options for its customers to update their KYC online. You can access your SBI net banking account or the YONO app to modify your SBI KYC online. The comprehensive procedures are outlined in the following sections.
Step 1: Log In To SBI Internet Banking
- Visit SBI Online and log in with your credentials.
Step 2: Navigate To The KYC Update Section
- Go to ‘Profile’ and look for the ‘Update KYC’ option.
Step 3: Upload Required Documents
- Enter your profile password and click ‘Submit’.
- Select your account from the drop-down menu and click on ‘Submit’.
- Fill out the required information. Scan and upload the necessary KYC documents (identity proof, address proof, and photo).
- Ensure the file size and format match SBI’s requirements.
Step 4: Submit And Wait For Verification
- After uploading, submit the request.
- SBI will review your documents and update your KYC within a few days.
When you revise your KYC information, it will be reflected in all bank accounts linked to your Customer Identification File/Form (CIF).
How To Update KYC In SBI Via YONO App?
YONO is SBI’s comprehensive digital banking platform providing easy financial services for SBI account holders. You can additionally revise your State Bank of India KYC documents via the YONO app by adhering to these simple steps:
Step 1: Launch the SBI YONO app and sign in with your MPIN.
Step 2: Tap on the menu in the upper left of the home screen and choose ‘Service Request’.
Step 3: Choose the ‘Update KYC’ option.
Step 4: Input your profile password and press ‘Submit’.
Step 5: Complete the details that need updating, upload the necessary documents, and submit.
Step 6: An OTP will be sent to your registered mobile number. Input the OTP and press ‘Submit’.
Step 7: Upon the successful update of your KYC, you will receive a concluding message stating, ‘KYC for CIF has been successfully updated in bank records via YONO’
How To Update KYC In SBI Via Email?
If you prefer, you can send your KYC documents via email to your home branch.
Step 1: Draft An Email
- Compose an email with the subject: “Request for KYC Update – [Your Account Number]”.
Step 2: Attach Documents
- Attach scanned copies of your identity proof, address proof, and passport-size photograph.
Step 3: Send It To Your SBI Branch Email
- Find your branch’s official email ID from the SBI website and send the request.
Step 4: Confirmation
- SBI will confirm once your KYC is updated.
How To Update KYC In SBI Offline?
If you prefer in-person updates, you can visit your nearest SBI branch.
Step 1: Download The KYC Form
- Get the SBI KYC Update Form from the bank’s website or visit a branch to collect one.
Step 2: Fill In The Details
- Enter your account details, name, and other required information.
Step 3: Attach Required Documents
- Attach self-attested copies of your ID proof, address proof, and a passport-sized photo.
Step 4: Submit The Form At The Branch
- Visit the branch and submit the completed form to the bank representative.
Step 5: Verification And Approval
- SBI will verify your documents and update your KYC in a few working days.
How Long Does SBI KYC Update Take?
The time for processing your KYC update varies based on the method chosen:
- Online Submission: 2-5 working days
- Email Submission: 3-7 working days
- Offline Submission: 7-10 working days
Common Issues And How To Resolve Them
1. KYC Update Rejected
- Double-check document clarity and accuracy.
- Ensure your ID and address proofs are valid and match your SBI records.
2. No Response From SBI
- Follow up with customer care or visit the branch.
3. Account Blocked Due To KYC Non-Compliance
- Immediately submit your KYC documents to reactivate your account.
Tips To Avoid KYC Issues In The Future
- Keep your KYC documents updated regularly.
- Ensure the information matches SBI records.
- Respond promptly to SBI’s KYC update requests.
Conclusion
Updating your SBI KYC is a straightforward process, whether you choose online, email, or offline methods. By keeping your documents updated, you ensure smooth banking services without any disruptions. Stay proactive, follow the steps outlined, and enjoy hassle-free banking with SBI!
Frequently Asked Questions (FAQs)
1. Can I update my SBI KYC online?
Yes, you can update your KYC online via SBI Internet Banking by uploading the required documents.
2. How do I check my KYC status in SBI?
Log into your SBI Internet Banking account and navigate to the ‘Profile’ section to check your KYC status.
3. Can I send my KYC documents via WhatsApp?
No, SBI does not accept KYC updates via WhatsApp. Use internet banking, email, or visit a branch.
4. What happens if I don’t update my KYC in SBI?
Your account may be restricted, and transactions could be blocked until you complete the KYC update.
5. Can NRIs update KYC online in SBI?
NRIs can update KYC via email by submitting the required documents to their home branch.
6. Do I need to visit the bank for KYC updates?
Not necessarily. You can update KYC online or via email unless SBI specifically requests an in-person visit.
7. Is there any fee for updating KYC in SBI?
No, updating KYC is free of charge.
8. Can I update my KYC through YONO SBI?
Currently, the YONO app does not support KYC updates. Use internet banking instead.
9. How often do I need to update my KYC in SBI?
Typically, every few years or when requested by the bank.
10. What if I changed my address?
Submit updated address proof online or via email to update your KYC records.
