This article explains how to open a bank account in India without a PAN card using two RBI-approved routes: a zero-balance Basic Savings Bank Deposit Account (BSBDA) that requires no PAN, and a regular savings account opened by submitting Form 60 as a legal substitute. It includes step-by-step guidance, the documents accepted, BSBDA transaction limits, real-life examples and a dedicated note for students.
You can open a bank account without a PAN card in India. The Reserve Bank of India permits two official options: a BSBDA that needs no PAN at all, and a regular savings account opened by submitting Form 60. Both options are available at all scheduled banks across the country.
Students awaiting PAN, daily wage earners, people who recently moved cities and first-time employees often need an account before their PAN is ready. The regulations accommodate this need. Below is a clear, practical guide.
QUICK STAT
Over 53 crore Jan Dhan accounts have been opened in India, most without PAN, using simplified KYC under the Pradhan Mantri Jan Dhan Yojana. This demonstrates how widely no-PAN account routes are used nationwide. Source: PMJDY Progress Report — Ministry of Finance, 2024.
What is a PAN Card and Why Do Banks Need It?
PAN stands for Permanent Account Number, a 10-character identifier issued by the Income Tax Department. Under Rule 114B of the Income Tax Rules, 1962, banks are required to collect PAN when opening regular savings accounts. The same rule, however, allows legal alternatives so you can still open an account without a PAN by using either the BSBDA route or submitting Form 60.
Two Ways to Open a Bank Account Without a PAN Card
Route one is the Basic Savings Bank Deposit Account (BSBDA). All scheduled banks must offer this product. It requires no PAN, has zero minimum balance and can be opened quickly with Aadhaar as identity proof.
Route two is a regular savings account opened using Form 60, which serves as a legal declaration in place of PAN. If you prefer full account features from the start, this is the appropriate option. Once you receive your PAN, you must link it to the account.
What is Form 60 and When Is It Required?
Form 60 is a declaration under Rule 114B of the Income Tax Rules, 1962, issued by the Central Board of Direct Taxes. It replaces PAN for specified transactions, including opening a savings account. You provide name, date of birth, estimated income and the nature of the transaction, and submit the form along with valid ID and address proof at the bank.
Form 60 is required when you open a regular savings account without a PAN. One important condition: if your taxable income (excluding agricultural income) exceeds the basic exemption limit and you have not applied for PAN, Form 60 alone is not acceptable. In that case you should apply for PAN and quote the acknowledgement number while waiting for the card.
DID YOU KNOW? Form 60 remains valid for six years from the end of the financial year in which the transaction was made. You can use it when opening accounts, but once you receive PAN you must inform the bank and link it.
Zero Balance Account Without a PAN Card – BSBDA Explained
The BSBDA is a zero-balance account introduced by the RBI to promote financial inclusion. Every scheduled commercial bank must offer it. No PAN is required, there is no minimum balance and no joining fee. This is the most widely used route to open a bank account without a PAN in India.
If full KYC documents are not available at the time of opening, the account is classified as a BSBDA Small Account with temporary limits. A summary of the key differences:
| Feature | BSBDA (Full KYC) | BSBDA Small Account |
|---|---|---|
| Minimum balance | ₹0 | ₹0 |
| Maximum balance | No cap | ₹50,000 |
| Annual credits | No cap | ₹1,00,000 |
| Monthly withdrawals | 4 free per month | ₹10,000 per month |
| PAN required? | No | No |
| Account validity | Ongoing | 12 months, extendable to 24 |
| Debit card | RuPay debit card | RuPay debit card |
Documents Accepted Instead of a PAN Card
- Aadhaar card — covers identity and address in a single document and is widely accepted.
- Voter ID (EPIC card).
- Passport.
- Driving licence.
- MGNREGA job card (for eligible rural residents).
For opening a regular account using Form 60, also carry a passport-size photograph and the signed Form 60. If you have applied for PAN but not received the card, note the acknowledgement number and date — these should be entered in Form 60.
Step-by-Step: How to Open a Bank Account Without PAN Card
- Decide which account you want: BSBDA for the quickest, simplest option; or a regular savings account using Form 60 if you want full features immediately.
- Collect the required documents: for BSBDA typically Aadhaar and a passport photo; for the Form 60 route, ID proof, address proof, completed Form 60 and photograph.
- Download and complete Form 60 if using this route. Ensure all fields match your ID documents to avoid rejection.
- Apply at the bank branch or via the bank’s online process. Several banks support video KYC or Aadhaar OTP-based online account opening for BSBDA, while Form 60 accounts often require a branch visit.
- Submit documents and complete verification. Banks may perform Aadhaar biometric verification on the spot; BSBDA passbooks or instant account numbers are commonly issued the same day, while a debit card is typically delivered within a few working days.
- Link your PAN once it arrives. For BSBDA Small Accounts linking PAN removes transaction caps; for Form 60 accounts linking PAN fulfills compliance requirements.
PRO TIP
Carry your original Aadhaar to the branch, not just a photocopy, because many banks perform biometric verification during account opening.
Real-Life Examples
Priya, 23, moved to Nagpur and needed a salary account quickly. With only her Aadhaar she opened a BSBDA at a national bank, received an account number the same day and later linked her PAN when it arrived.
Karim, a self-employed carpenter in Bengaluru, had applied for PAN and had the acknowledgement number. He submitted Form 60 with his Aadhaar and an electricity bill to open a regular savings account and linked PAN after getting the card.
Anaya, a college student, opened a BSBDA Small Account with Aadhaar and student ID to receive scholarship funds. The account fit within the prescribed limits until she obtained and linked her PAN.
Can Students Open a Bank Account Without a PAN Card?
Yes. Students can open a BSBDA using Aadhaar, a passport or other valid government ID. Many students use the zero-balance account while waiting to receive PAN after turning 18. Once PAN is available, it should be linked and the account upgraded to full access.
Transaction Limits and Restrictions to Know
BSBDA Small Accounts have temporary limits: maximum balance of ₹50,000, annual credits capped at ₹1,00,000 and monthly withdrawals limited to ₹10,000. Cash transactions above ₹50,000 in a single day require PAN regardless of account type. Interest may be subject to higher TDS rates if PAN is not linked. A BSBDA Small Account is valid for 12 months and can be extended to 24 months with evidence of a pending KYC application; full KYC becomes mandatory thereafter.
Things to Watch Out For
WATCH OUT
Form 60 is a legal declaration. Providing false information is a punishable offence under the law. Notify the bank immediately when your PAN arrives to avoid account restrictions. Do not submit Form 60 if you already hold a PAN. You cannot hold two BSBDA accounts in the same bank if you already have a savings account there; banks may require closing one within a specified period.
FAQs On Opening Bank Account Without PAN Card
1. Can I open a savings account in India without a PAN card?
Yes. You can open a BSBDA at any scheduled bank using Aadhaar or another valid KYC document. For a regular savings account without PAN, submit Form 60.
2. What is Form 60 and when is it required?
Form 60 is a declaration under Rule 114B used when opening a bank account without PAN. It must be submitted with ID and address proof at the bank.
3. Is there a transaction limit on accounts opened without a PAN card?
Yes, if the account is classified as a BSBDA Small Account: balance capped at ₹50,000, annual credits ₹1,00,000 and monthly withdrawals ₹10,000. A full-KYC BSBDA has no such caps.
4. Do I need to submit PAN later if I open an account using Form 60?
Yes. Once PAN is issued you must inform the bank and link it to the account to avoid restrictions.
5. Can students open a bank account without a PAN card?
Yes. Students can open a zero-balance BSBDA with Aadhaar or other valid ID and later link PAN when available.
6. Can we open a bank account without a PAN card online?
Yes, for BSBDA accounts many banks offer online account opening or video KYC using Aadhaar OTP. For Form 60 accounts, a branch visit is typically required.
7. Which banks allow account opening without PAN card in India?
All scheduled commercial banks are required to offer BSBDA, which can be opened without a PAN card. Major public and private sector banks provide this facility across the country.