How to Link a PAN Card to Kotak Mahindra Bank Account
If you want to update your PAN Card or link your PAN Card with your Kotak Mahindra Bank account at a later date, you can simply visit a branch of the bank with the necessary documents and complete the process in a relatively short period.
It is necessary for all income-earning individuals in India to possess a PAN Card.
A PAN Card can be availed from the Income Tax Department of India after you have submitted the required documents, and individuals who wish to start a new bank account will be required to mention their PAN when applying for a Kotak Mahindra Bank account.
Individuals who do not possess a PAN Card can fill up Form 60/Form 61 and submit it to the bank, but the reason as to why he / she does not possess a PAN Card will have to be mentioned.
Why Link PAN Number with Kotak Bank Account
Linking your PAN Card with your Kotak Mahindra Bank account can significantly increase convenience while banking in addition to providing various benefits. However, failure to link your PAN Card with your Kotak Mahindra Bank account can cause unnecessary problems in the future.
For instance, if your PAN information has not been updated with Kotak Mahindra Bank, you will have no choice but to pay tax on the interest you earn on your deposits. Individuals who have their PAN Cards but have not linked their information with Kotak Mahindra Bank will not be able to avail their TDS Certificate (Form 16) by the bank, making it crucial to link your PAN Card with your Kotak Mahindra Bank account.
Points to Remember when Linking Kotak Mahindra Bank Account with PAN Card
Here are the key points that you need to keep in mind when you are linking your PAN Card to your Kotak Mahindra Bank account:
- If the account is less than six months old, the account holder will need to physically visit the bank branch to update PAN card details. The account holder will also need to provide valid ID proof to verify the PAN update.
- The bank also has some limitations for updating PAN through online channels. The account holder can only update or modify the PAN information once through the online portal. For further updates, the account holder has to visit the nearest bank branch with the valid original PAN Card and a self-addressed copy.
Ways to Link PAN Card with a Kotak Bank Account
There are four ways through which you can link your PAN Card with your bank account at Kotak Mahindra Bank. They are as follows:
- Using Internet Banking
- Using Mobile Application
- By visiting the nearest Kotak Mahindra Bank branch
Linking PAN Card with Kotak Mahindra Bank Account using Mobile Banking
Follow the steps given below to link PAN Card with Kotak Mahindra Bank account using mobile banking:
Step 1 - Using your user id and password, login on the Kotak Mahindra Bank mobile application.
Step 2 - Check for the ‘Service Request’ option
Step 3 - From the options available, select the ‘Profile’ option
Step 4 - Click on the ‘PAN Update’ option and fill in the necessary details there
Linking PAN Card with Kotak Mahindra Bank Account using Internet Banking
Follow the steps given below to link PAN Card with Kotak Mahindra Bank account using internet banking:
Step 1 - You will have to log in on the net banking account using your user id and password.
Step 2 - Next, you will have to go to ‘Profile/Update Contact Details’
Step 3 - Click on the ‘Personal Information’ section
Step 4 - Click on the ‘PAN’ option
Step 5 - Click on the ‘Edit’ option
Step 6 - Update your PAN card details
Linking PAN Card with Kotak Mahindra Bank Account by Visiting the Branch
Follow the steps given below to link PAN Card with Kotak Mahindra Bank account offline by visiting the branch:
Step 1 - Visit the nearest Kotak Mahindra branch
Step 2 - There you will have to raise a request the PAN updation form or the KYC form as per bank guidelines.
Step 3 - Fill in all the required details and submit the form along with all the required documents.
Step 4 - Once all the documents are verified by the bank officials, it will be sent for further processing.
Step 5 - It will take around 4 to 5 days for your PAN Card to get linked to your bank account.
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FAQs on Linking PAN Card to Kotak Mahindra Bank Account
- Can I link my PAN Card with my Kotak Mahindra bank account online?
Yes, Kotak Mahindra Bank offers online methods to link your PAN Card with your bank account through their internet banking platforms or mobile apps. Check with your bank for specific procedures.
- Does linking to a PAN Card enhance the security of my bank account?
Yes, linking to a PAN adds an extra layer of security to your bank account. It helps authenticate your identity, reducing the risk of unauthorized access and adding to the overall security of your financial information.
- Is it mandatory to link a PAN Card with a bank account?
Yes, it is mandatory to link a PAN Card with a bank account.
- Can I link PAN Card with multiple bank accounts?
Yes, you can link PAN Card with multiple bank accounts.
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