SBI FD KYC

What is an SBI FD KYC?

The SBI FD KYC is the process of verifying a customer’s details for the records of SBI, based on RBI guidelines. Updating KYC details ensures uninterrupted banking services such as fixed deposits. For new customers booking an FD, this involves providing identity and address proof documents. Existing customers needs to do KYC periodically to continue getting benefits like SBI FD interest income. Customers can complete their KYC both online (internet banking and YONO app) and offline (branch banking).

How to Update SBI FD KYC?

Updating your KYC (Know Your Customer) is mandatory to keep your SBI Fixed Deposit (FD) account active and compliant with RBI regulations. The process depends on whether you are an existing or new SBI customer, and whether there are any changes in your KYC information.

For Existing Customers

Offline Method (When there is a change in KYC information)

Steps to update SBI FD KYC offline:

Step 1: Download the Annexure B form from SBI's official website or collect it from the nearest SBI branch.
Step 2: Fill the form carefully in BLOCK letters using black ink.
Step 3: Attach self-attested copies of valid identity and address proof (Aadhaar, Passport, Voter ID, etc.).
Step 4: Submit the filled form and documents to your SBI home branch.
Step 5: The branch will verify and update your KYC. You may receive a confirmation SMS/email.

Online Method (When there is no change in KYC information)

SBI allows KYC updates online through Internet Banking, YONO app, or SBI ATMs only if there is no change in existing KYC details, CKYCR number is already available in bank records, and KYC documents are valid and as per current standards.

Option 1: Internet Banking

Step 1:Login to SBI Internet Banking > Go to “My Accounts & Profile” > Click “Update KYC”.
Step 2: Verify the auto-filled details, update income (if required), tick the declaration, and submit.
Step 3: Enter OTP received on your registered mobile number to complete the process.

Option 2: YONO App

Step 1: Login to YONO using MPIN or Internet Banking credentials.
Step 2: Go to Menu > Service Request > Update KYC.
Step 3: Verify address, update income/occupation if needed, tick declaration and submit.
Step 4: Enter Internet Banking profile password and OTP to complete submission.

Option 3: SBI ATM

Step 1: Insert your SBI Debit Card > Select Banking > Services > KYC Update.
Step 2: Enter the two digits shown on the screen, then ATM PIN when prompted.
Step 3: Confirm if OVD (Officially Valid Document) shown is correct.
Step 4: Enter OTP sent to your registered mobile, tick declaration, and submit.

For New Customers

New customers booking an FD (through a savings account or other options) must complete full KYC before starting services. Here are the steps to complete the KYC process:

Step 1: Download the Annexure B form from SBI’s website or collect it from your nearest branch.
Step 2: Fill the form in BLOCK letters using black ink.
Step 3: Attach self-attested copies of valid documents:

• Proof of Identity (Aadhaar, Passport, Voter ID, etc.)
• Proof of Address (can be same as identity if applicable)
• PAN card (if available)
• Passport size photograph

Step 4: Submit the documents at the nearest SBI branch and verify identity by signing/thumb impression in front of the bank official.
Step 5: Once verified, your FD account will be activated and linked with your updated KYC information.

Eligibility for SBI FD KYC

Different SBI products and services have different criteria. The SBI FD KYC process (offline) is required to be done by the following candidates:

• New customers opening an SBI FD or any new account.
• Minors turning 18 (account transitions from minor to major).
• NRIs opening or updating an FD account.
• Existing customers making changes in KYC details, including:
  • Address
  • Name
  • Occupation or income
  • Contact details (mobile/email)
  • If CKYCR (Central KYC Registry) number is not available
  • If KYC documents are outdated as per current standards

Documents Required for SBI FD KYC

To verify your proof of identity, and address you need any one of the following officially valid documents (OVDs:)

• Passport
• Aadhaar Card
• Voter ID
• Driving Licence
• NREGA Job Card
• NPR Letter with name & address
• Recent passport size photograph

SBI FD KYC for Minors

For Below 10 years: KYC of the guardian is required.
For Above 10 years: Minor can do KYC independently.

SBI FD KYC for NRIs

The documents required by NRIs to open an SBI FD are:

• Passport
• Residence Visa Copies

Note: The documents will be duly attested by

• Foreign offices
• Indian Embassy
• Notary Public
• Officers of correspondent banks whose signatures are verifiable through an authorised(A/B category Forex handling branch) branch of the Bank

KYC for HUFs

The documents required by Hindu Undivided Families (HUFs) to complete the KYC process with SBI are:

• PAN Card of the HUF
• PAN Card of the Karta (Head of the Family)
• HUF Declaration / HUF Deed mentioning the names of the Karta and coparceners
• Proof of Identity and Address of the Karta
• Recent Passport-size Photograph of the Karta

Note:

• The Karta will act as the authorised signatory for all HUF transactions and is responsible for complying with KYC requirements on behalf of the HUF.
• All submitted documents must be self-attested by the Karta and verified with the originals at the SBI branch.
• In case of changes in the constitution of the HUF, the bank must be immediately informed, and the KYC records must be updated.

Points to Keep in Mind While Updating SBI FD KYC

When you are to update your KYC for the purpose of opening or maintaining FD account, the following points are to be kept in mind:

• Know your situation (new customer, change in address, etc.)
• Download the correct Annexure form
• Attach proper proof documents
• Choose submission method: Offline or Online
• Keep your mobile number updated to receive OTPs and alerts

Benefits of SBI FD KYC

The benefits offered by SBI FD KYC are:

• Regulatory Compliance: The SBI FD KYC ensures your FD account remains active and compliant with RBI guidelines, avoiding freezes or restrictions.
• Enhanced Security: The process keeps your personal details updated and protected, reducing the risk of fraud or misuse.
• Seamless Banking Services: It enables smooth operation of FD and other linked accounts like savings, internet banking, and auto-renewals.
• Faster Transactions: Speeds up processing of maturity payments, interest payouts, and account-related services.
• Eligibility for Upgrades: The SBI FD KYC Makes you eligible for pre-approved offers, higher deposit limits, and smoother access to SBI’s digital platforms like YONO and Net Banking.

Conclusion

Keeping your KYC updated with SBI is crucial, especially for FD holders, to avoid account restrictions and ensure uninterrupted services. Whether you're a new or existing customer, understanding the correct form, documents, and submission method makes the process simple and stress-free.