Bank of Baroda account holders can update their KYC documents digitally using the ‘Video Re-KYC’ feature introduced by the state-owned lender. This feature makes it much easier for customers to update their KYC without visiting the branch. In this article, we will discuss the steps you need to follow to update the Bank of Baroda KYC online. Before moving on to the steps, let us first understand what KYC is, its relevance, and what e-KYC is.
What is KYC?
KYC, which stands for “Know Your Customer,” is a process whereby banks get information about their customers’ true identity and address to ensure that banks’ services are not misused. The banks must complete the KYC process while opening accounts and are required to update the same at regular intervals.
Whenever someone visits a bank to open an account, they need to submit a ‘proof of identity and proof of address’ along with a recent photograph. The Indian government has notified six documents as ‘Officially Valid Documents’ (OVDs) to produce proof of identity.
These six documents include:
- Passport
- Driving Licence
- Voters’ Identity Card
- PAN Card
- Aadhaar Card issued by UIDAI
- NREGA Card
Apart from other benefits, KYC guidelines protect banks or any other financial institutions from being used for money laundering activities and other illegal activities.
What is e-KYC?
e-KYC stands for electronic KYC. e-KYC is possible only if you have been allotted an Aadhaar number. When you use the e-KYC service, you authorize the Unique Identification Authority of India (UIDAI) to release your identity/address via biometric authentication to the bank branches. After this, your data comprising name, age, gender, and photograph, is shared electronically by the UIDAI with the bank/BC.
How to Update Bank of Baroda KYC Online?
In line with the RBI guidelines on KYC norms, the Bank of Baroda needs to periodically update the KYC documents of its account holders. In addition to the KYC done at the time of opening an account, account holders have to undergo Re-KYC and submit the necessary documents to their bank at periodic intervals to avoid facing any issues with their account as part of the regulatory action.
How to Submit Re-KYC Documents?
According to the Bank of Baroda website:
- Individual Resident Customers (except Minors) having an Aadhaar Number can undertake Online Re-KYC via the Web Portal.
- Individual Resident Customers (barring Minors) having an Aadhaar Number & Original PAN can undertake Video Re-KYC (Re-KYC online via Video Call).
- Visit your home branch and submit the duly signed Re-KYC form along with a copy of valid KYC documents.
- Email / Post / Courier / Physical delivery of duly signed self-declaration form if your KYC information/address remains unchanged.
Also Read: Bank of Baroda Business Loan
How to Update Bank of Baroda (BoB) KYC Offline?
- Step 1: Visit the nearest branch of the Bank of Baroda (bob).
- Step 2: Request for the KYC application form.
- Step 3: Fill in the application form with the personal details, PAN card, residential and income details and attach your passport-size photo with it.
- Step 4: Submit your application form at the counter.
With this process, You complete your re-KYC application process offline. You can also initiate this process via the Online without visiting the nearest branch of Bank of Baroda. Here’s how to do so.
Step-By-Step Process for Customers to Complete Re-KYC
Online updating KYC is a simple process via digital mode without visiting the branch personally. The process is as follows:
- Login to the portal with your account number and registered mobile number.
- Update basic information.
- Perform Aadhaar e-KYC authentication through OTP.
- Update address, if required.
- The customer will get an acknowledgment that the record will be updated in T+2 working days.
Also Read: How to Get Bank Of Baroda Mini Statement Online?
Updating Bank of Baroda KYC Digitally On Video Calls
Bank of Baroda Video Re-KYC
Bank of Baroda account holders can now complete re-KYC digitally within a few minutes in a secure manner. Video Re-KYC is an alternative method for customers to complete the periodic updation of KYC digitally.
- To avail of the Video KYC facility, customers must be resident individuals, over 18 years of age, and should have their Aadhaar number and original PAN Card.
- Visit the Bank of Baroda website and complete the online Re-KYC application by submitting the required information online.
- The video KYC call with the bank executive will take place after the online application has been filed.
- For the video call, customers will require their original PAN Card, a blank white sheet of paper, and a blue/black pen.
Note that the bank responds to video Re-KYC calls on all working days.
Also Read: How to Get Canara Bank Mini Statement Online?
Officially Valid Documents (OVDs) for Account of Individuals
- Passport
- Driving license with photo
- Proof of possession of Aadhaar number.
- Voter’s Identity Card issued by the Election Commission of India.
- Job card issued by NREGA duly signed by an officer of the State Government.
- Letter issued by the National Population Register containing details of Name and Address.
Deemed Officially Valid Documents (If OVD does not contain updated/current address)
- Utility bill of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill not more than two months old).
- Property or Municipal Tax receipt.
- Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings (PSUs), if they contain the address.
- Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions, and listed companies.
Things You Should Know before Update Your KYC Online
- An Aadhaar Card is mandatory.
- The mobile number registered with the Bank & linked with Aadhaar should be the same.
- Phone Service is available to Indian Residents aged 18 years & above.
- Customers can update their profile and carry out Re-KYC using Aadhaar e-KYC through OTP.
- The process typically takes 4-5 minutes under standard circumstances.
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FAQs
Q.1 Why is it important to update your KYC?
Updating your KYC is crucial to avoid fraud and identity theft. It also ensures continuous access to your banking services.
Q.2 How can I update my KYC on Bob online?
You can update your KYC for Bank of Baroda (BoB) online by using the ‘Video Re-KYC’ feature on the bank’s website. This allows you to carry out KYC updates through this online method without going to the bank. After entering your account number and registered mobile number, perform the OTP based Aadhaar e-KYC authentication and change your address if necessary.
Q.3 Is the KYC requirement applicable to all existing customers?
Yes, all existing customers are required to update their KYC periodically.
Q.4 What documents are required for Bank of Baroda KYC?
For Bank of Baroda KYC, you typically need to provide one of the Officially Valid Documents (OVDs) such as a Passport, Driving License, Voter’s Identity Card, PAN Card, Aadhaar Card, or NREGA Card. Address proof is required with some other documents like utility bills or property tax receipts if the address is not updated in the OVD.
Q.5 How can I update Bank of Baroda KYC with my mobile number?
To update your Bank of Baroda KYC with your mobile number, ensure that your registered mobile number is linked to your Aadhaar. You can then complete the KYC update online through the bank’s portal, using your Aadhaar e-KYC via OTP for verification.
Q.6 How can I check my Bank of Baroda KYC status?
You can check your Bank of Baroda KYC status by login into the bank online website or mobile world app. The status will be updated within T+2 working days of submitting your KYC documents or Video Re-KYC.
Q.7 What is Bank of Baroda Video KYC?
Bank of Baroda Video KYC is a digital method for updating your KYC documents via a video call with a bank executive. This service is available for resident individuals over 18 years old who have an Aadhaar number and original PAN Card. The video call allows for secure and convenient completion of the KYC process.
Q.8 What is the Bank of Baroda Customer Care No?
The toll-free customer care numbers for Bank of Baroda (domestic) are 1800 5700 and 1800 5000.
