KYC Update Online - How to Update Your KYC Details?

KYC update is required when your address, name, mobile number or other personal details change. Keeping your KYC details updated is essential for using bank accounts, mutual funds, Demat accounts, insurance and other financial services. This guide explains how to update KYC, how to do KYC update online, documents required, and RBI rules for periodic KYC updation.

Key Highlights

• You can complete KYC update online via netbanking, mobile apps, video KYC, email, KRA portals or chatbots.
• Documents like PAN, Aadhaar, voter ID, address proof and photo are mandatory for KYC update.
• RBI requires periodic KYC updation based on customer risk category.

When Should You Update KYC?

There are various situations when you might be required to do a KYC update:

• Change in your personal details, such as address, name, contact number etc. 
• Where you have already changed your name on your PAN card, Aadhaar card or passport. 
• When there is a regulatory request by your bank account or mutual fund to update KYC of your account.

How to Update KYC Online?

There are various ways to complete your KYC update online, which are provided below:

The detailed procedure for KYC update through netbanking or mobile app are as follows:

• Log in to the netbanking or mobile app using your credentials.
• Find the “Update KYC” section in the “Profile” settings.
• Enter the required details, such as name, address, contact number, etc., to make changes to the KYC.
• Upload the latest scanned copies of KYC documents, such as identity and address proof.
• Enter the one-time password. After entering the OTP, click on the submit button. 
• Now your application for KYC details update will be reviewed and you will receive an official notification regarding your KYC verification within a few days.

Documents Required for KYC Update

You must submit certain specific documents as requested by the bank or financial institution for KYC update. These documents may include the following:

• PAN card
• Aadhaar card
• Voter ID card
• Passport
• Driving license
• Utility bills not older than 2-3 months
• Bank statement or passbook
• Recent photograph

KYC Update for Different Cases

Below are the different purposes for which you may have to complete KYC update:

Things to Know while Updating KYC

There are a few things to keep in mind to do your KYC update online or offline:

• Upload clear, untampered scanned documents.
• Ensure details match PAN/Aadhaar exactly.
• Online KYC gives instant mismatch alerts; offline does not.
• For offline KYC, carry original documents for verification.
• Avoid oversharing data. Provide only required details.

KYC Details Update Form PDF

A KYC detail update form PDF typically contains sections, like personal details, contact details, proof of identity, address details and declaration with self-certification. You will also find a field for C-KYC number, where you will have to enter this number, which is mandatory for CKYC update requests. 

• Under the personal details section, you need to enter some basic details of yours, such as name, DOB, nationality, place of birth, monthly income, caste, religion etc.
• Under the proof of identity and address, you will have to tick the document you are submitting as identity proof and address proof. And under the address details enter your current and permanent address, state, PIN, city and district.
• Under the declaration and self-certification, you will have to read the terms and conditions and accept their terms and conditions. You might also be required to do a signature there and paste a recent passport-size photograph.

RBI Guidelines On Periodic Updation Of KYC

Below are the guidelines to be maintained while updating KYC periodically: 

• RBI issued revised KYC guidelines in February 2005, updating earlier January 2004 instructions based on FATF recommendations for AML and CFT.
• Compliance with FATF standards is necessary for maintaining international financial relationships.
• NBFCs must adopt KYC and AML policies with Board approval within three months of the circular date.
• Customer information collected for KYC must be kept confidential and not used for cross-selling or other purposes without consent.
• Information sought from customers must be relevant to risk perception, non-intrusive, and conform to KYC norms.
• Separate consent must be obtained from customers for collecting additional information beyond KYC requirements.
• KYC guidelines also apply to persons authorised by NBFCs, including brokers and agents collecting public deposits.
• NBFCs are fully responsible for ensuring their authorised persons' compliance with KYC norms and accepting consequences for violations.
• RNBCs were separately instructed to comply with KYC guidelines for new customers from April 1, 2004, and progressively for existing large depositors.
• RNBCs must update KYC details at the time of deposit renewal for remaining accounts, ensuring customer convenience.
• RNBCs are responsible for full KYC compliance by agents and sub-agents collecting deposits on their behalf.
• NBFCs must implement a due diligence process for appointing and verifying brokers, agents, and authorised persons.
• Due diligence records for authorised persons must be maintained for audit and regulatory verification.
• NBFCs must ensure authorised persons’ brokerage accounts are available for audit and inspection when needed.

KYC update is essential to keep your financial accounts active and compliant. Whether done through netbanking, video KYC or KRA portals, KYC update online is the quickest and most convenient method. Ensure your identity and address proofs are valid and updated to avoid service interruptions across your bank, mutual fund or Demat accounts.

Other KYC Articles:
1. e-KYC Aadhaar - How To Check Aadhaar e-KYC Online And Offline?
2. What is KYC and How to do KYC Verification?