You can update your KYC details in two ways. One is the online method, and the other is the offline method. Here, we will discuss the two -
Online Procedure for KYC Update
If your financial institution allows you to update your KYC details online, here are the steps to follow:
Step 1: Log into the online KYC portal of the respective financial institution.
Step 2: You will see a form in the ’Update KYC’ section, which you must complete.
Step 3: As identity and address proof, you will be required to provide KYC documents.
Step 4: By checking the box underneath, authorise your KYC update.
Step 5: You will view a captcha code (security code) that you need to enter as given.
Step 6: Click on the 'submit' button.
You can download the duly filled form as you complete the KYC form online. Once you download it, sign it, attach the self-attested copies, and courier these documents to the verifying authority or a financial institution.
Offline Procedure for KYC Update
You can also complete your KYC update by filling in the downloadable form. Here are the steps to complete KYC updation offline:
Step 1: Visit your respective bank's website and complete the login procedure.
Step 2: You will see a downloadable form. Download it and print the ‘bank account KYC update form’ duly, as mentioned.
Step 3: Select the documents you need to provide as identity proof or address proof.
Step 4: You will have to sign the form.
Step 5: Then attach a recent passport-size photograph to the form.
Step 6: Attach your self-attested identity and address proof with the document.
Step 7: Visit your nearest branch to submit the document. You can also courier the same to the given address of your financial institution.
It is essential to abide by your bank's rules in terms of KYC updation. If your financial institution cannot verify your identity as per KYC, it can lead to complete closure or account freezing.