State bank PAN Card Link – How to Link pan card with SBI bank account through Onlinesbi net banking, Visiting bank | How to Update Pan Card in SBI | SBI PAN card Linking Status 2022
SBI PAN Card Link
PAN Card is an exclusive 10-alphanumerical identifier designed by the Indian Income Tax department for all Indian taxpayers. The card contains essential user information that applies anywhere in India. The income tax department issues one PAN per taxpayer, meaning it’s unique for everyone and companies.Taxpayers cannot hold multiple PAN cards in their name. To emphasize the importance of PAN cards, the RBI provides a mandatory assignment for all banking and financial institutions.
RBI requires all bank account holders to merge their PAN cards with banking accounts. The SBI Bank, a famous bank in India, advocates for all SBI Bank customers to link their PAN cards and update their KYC details. This offers more security in financial transactions and provides tax collection (returns) accountability. SBI bank has introduced better digital platforms for customers to hasten the merging process. The bank allows users to link the PAN card anywhere using the online portal. Besides the online system, one can link using a customer care hotline or visit the bank branch.
How to Link Pan Card with SBI Bank Account
Benefits of linking PAN with SBI Bank account
- Banks use PAN cards as identity and address proof documents; this helps update KYC details.
- The SBI bank will curb identity theft by closing all duplicate bank account registered under false details.
- The Income Tax Department can easily follow taxpayer expenditure against the income.
- Customers transferring or saving an amount exceeding Rs. 50 000 in their SBI account must provide a PAN card or form 60.
- Bank customers whose accounts are not like will get a TDS deduction of 20% instead of 10% on income for the fixed deposit.
How to Link PAN With SBI Account Using SBI Internet Banking Service
SBI bank account holders can register for internet banking to access various banking services. The OnlineSBI is the official internet banking platform. SBI customers can link the PAN card in the following steps.
- Go to the OnlineSBI website portal using the link
- Enter your customer ID and password to log in
Select the “Profile-PAN Registration” option under the option “MY account.”
- Next, enter your profile password to proceed to a new page
Select your “account number and key on your PAN number.”
- Now, click submit button to continue
The system will send an OTP to your mobile number
- Enter the OTP and click submit button
The system will forward the request for processing and approval.
- This will take 7 working days
After which the bank will send a message about the successful PAN card linking process.
How to link PAN with SBI Account by Visiting SBI Bank Branch
- Go to the nearest SBI Bank branch.
- Ensure to call your PAN card and other identity documents.
- Request the bank officials for the PAN card link application form. Enter the mandatory details and attach your documents.
- Next, submit the form and PAN copy to the bank executive.
- The bank will review your details and process your request.
- Once the PAN card is linked to the SBI account, you will receive a confirmation SMS on your registered mobile number.
Linking PAN Card with SBI Account Through SBI Customer Care Hotline
SBI hotline number is open to all SBI customers for all banking inquiries.
- Call the SBI customer care using the number 1800 425 3800
- The IVR machine or direct customer care agent will assist you through the process.
- Enter the preferred language to proceed.
- Now, press 2 to avail of phone banking and account-related services.
- One can also select 9 to speak to a customer care agent.
- Request the SBI customer care executive to merge the PAN card with your account.
- Next, provide the required information as requested by the officer.
- Note, you need to answer several questions, such as your name, date of birth, address, and more. This helps confirm your identity after the process visits the bank to provide a copy of the PAN card to complete the process.
How to Check SBI PAN Card Linking Status
After linking the PAN card using the above methods, the SBI user can check the status through the steps below.
- Log in to your State Bank internet banking page using the customer ID and password.
- Under the PAN registration section, select the option “status.”
- The page will show the status with different terms such as pending, accepted, or declined.
- Why does my status show decline?
The PAN card link status might indicate declined if the user has provided false documents. The user should check whether their banking details with PAN card data are the same. However, the bank will provide details why they reject your request.
- Can a user have multiple PAN cards for different bank accounts?
It’s not possible to have multiple PAN cards. The Income Tax Department provides only one PAN card per taxpayer. The card is unique for every taxpayer.
For more information about to link your SBI savings account to your PAN Card visit link https://sbi.co.in/