How to Link PAN Card with Indian Overseas Bank Account Online/Offline?

The Indian Overseas Bank is a bank that provides a wide array of banking services, including corporate banking, retail banking, and foreign exchange. It demonstrates a strong commitment to meeting the diverse financial needs of its customers.

In this article, we will walk you through the instructions on how to link your PAN (Permanent Account Number) with your Indian Bank account. We will cover multiple methods, including Internet banking, bank apps, bank customer care service, and visiting a branch in person.

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Pre-requisites for Linking PAN Card
Link PAN Card with Indian Overseas Bank Account
Benefits of Linking PAN Card
Frequently Asked Questions

What are the Prerequisites for Linking PAN Card?

Its essential to know all the requirements before linking PAN Card with Indian Overseas Bank account:

Up to Date Contact Information: You need to ensure that the contact information is updated for all the communication purposes.
Valid PAN Card: You also need to check if all information on your PAN is correct and it is valid.
Functional Bank Account: The bank account also need to be fully active.

Different Ways to Link PAN Card with Indian Overseas Bank Account

Below are various ways to link PAN Card with Indian Overseas Bank account:

Link PAN Card with Indian Overseas Bank Account via Internet Banking

To link your PAN card with your Indian Overseas Bank account, follow these steps:

Step 1: Visit the website link for Indian Overseas Bank.

Step 2: Provide your User ID and password to log in to your internet banking account.

Step 3: Go to the service request section.

Step 4: Click on the PAN Updation option.

Step 5: Enter your PAN Card Number in the space that says ‘PAN card number’.

Step 6: Input your date of birth as mentioned on your PAN card.

Step 7: Check all the details in the form and then click the submit option.

Step 8: Your PAN card will be linked to your account within 1 to 2 working days.

Step 9: After your request has been approved, the bank will update you through email or SMS on the phone number that you have registered.

Link PAN Card with Indian Overseas Bank Account via Mobile Application

To link your PAN Card with the bank through the mobile app, follow the steps as mentioned below:

Step 1: Install Indian Overseas Bank account’s mobile banking application from either the Google Play Store or the Apple Store.

Step 2: Next, register and log into your mobile banking account.

Step 3: On the home page, enter your PAN details after you have logged in.

Step 4: Verify the information provided and submit the details.

Step 5: Upon reviewing your request, the bank shall send you an SMS notification.

Link PAN Card with Indian Overseas Bank Account via Phone (Customer Care Hotline)

To link your PAN card to your Indian Bank account seamlessly, kindly follow these steps:

Step 1: Dial the toll-free Indian Bank customer care number (1800 4250 0000).

Step 2: When speaking to a customer care representative, make sure you give all your account information.

Step 3: Request the executive to facilitate linking your PAN card to your bank account.

Step 4: Remember to disclose your PAN number to the executive before moving to the next level.

Step 5: The executive will review and approve the details, who will begin the linking process. After the process is completed, you will be notified.

Link PAN Card with Indian Overseas Bank Account Offline (at Branch)

These are the steps to keep in mind while getting your PAN card linked to your account offline:

Step 1: Visit any bank branch and ask for the KYC Change form or PAN Card Updation form at the helpdesk.

Step 2: Ensure accurate completion of the form by providing the necessary details, such as your bank account number, name, current address, mobile number, and PAN card number.

Step 3: Make sure to submit a self-attested photocopy of your PAN Card and the form to the bank representative.

Step 4: The bank representative will verify the details with your original PAN Card.

Step 5: Upon processing, your PAN Card will be linked to your account within 1 to 2 working days. You will receive a prompt notification via email or SMS from Indian Overseas Bank once the process is completed.

Benefits of Linking PAN Card with Your Indian Overseas Bank Account

Linking your PAN (Permanent Account Number) with your bank account offers numerous advantages:

Prevents Tax Evasion

The ability to track all your transactions minimises the chances of tax evasion when your bank account is linked to your PAN.

Facilitates Refunds

Once your PAN is linked to your account, it processes tax refunds in a shorter time, facilitating faster refund delivery.

Streamlined Transactions

It also processes all financial transactions with ease and in the shortest time possible.

Mandatory for Large Transactions

It is mandatory according to law, to link your PAN with the bank account for the purpose of making and receiving transactions above a certain limit.

Enhanced Security

Linking your verified PAN to your bank account further strengthens its security and shields it from unlawful access and fraud.

Loan Approvals

Since banking institutions can readily assess your financial status and income when your PAN is linked to your account, it becomes easier for you to secure loans

Avoidance of Higher TDS

Linking your PAN with your bank account leads to potential tax savings as it helps you avoid higher TDS (Tax Deducted at Source) rates.

Unified Financial Record

This linkage maintains a consolidated record of all your financial transactions, thus providing a holistic view of your financial activities.

Investment Facilitation

It makes it easier and more convenient to invest in one or more investment products like mutual funds, stocks and other securities.

Income Proof

Your linked PAN acts as valid proof of your income and financial background for several financial activities and applications.

Eligibility for Subsidies

This linkage makes it easier to receive government subsidies directly to your bank account so that you can easily access the funds.

The Indian Overseas Bank has made connecting your PAN card with your bank account extremely easy. This process facilitates smooth financial transactions and helps protect your data.

There are several ways to link your PAN card with the Indian Overseas Bank, including through Internet Banking, Mobile Banking, or by visiting the bank in person. Do it now and avoid any hassle!

FAQs about Linking PAN Cards with Indian Overseas Bank Account

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What are the documents needed to link your PAN card with your bank account?

Generally, you will be asked to submit a photocopy of your PAN card, and in some cases, you may have to fill out a form that may be provided to you by the bank.

What are the consequences of not linking your PAN card with your bank account?

Failure to link your PAN card with your bank account may result in restrictions on certain transactions, higher TDS rates on interest earned, and potential legal consequences.

Is it possible to check if your PAN card is already linked to your bank account?

Yes, you can easily check the status of your PAN by logging into your bank's online portal or by contacting customer service (1800 4250 0000).

Is it possible to unlink my PAN card from my Indian Overseas Bank account?

Delinking your PAN card is generally not recommended. However, if you need to do so, you should contact your bank for assistance.

Is there a fee for linking your PAN card with an Indian Overseas Bank account?

No, the Indian Overseas Bank does not charge a fee for this service.

What to do in case there is a mismatch in my PAN card and bank account details?

Before proceeding with the linking process, make sure to correct the details either in your PAN card or bank account.

How long will it take to link my PAN card with my Indian Overseas Bank account?

The process is usually instant when done online. However, if done through a bank branch, it may take a few working days to complete.

Can I link your Aadhaar card instead of my PAN card with the Indian Overseas Bank account?

While it is important to link your Aadhaar card, it does not replace the requirement to link your PAN card for tax purposes.

What to do if my PAN card gets lost or damaged and I wish to link it to my bank account?

In case your PAN card gets lost or damaged, you should apply for a duplicate PAN card through the NSDL or UTIITSL website. Once you receive the new card, you can proceed with the linking process.