Your Aadhaar card and Permanent Account Number (PAN) details are very important if you want to avail services such as opening a savings bank account, current account, fixed deposit, applying for debit or credit card, avail loans or get income tax refund etc.
The PAN is a 10-digit alphanumeric identification number that bears your information such as name, birth date and age. The card is issued in a laminated form by the Income Tax Department.
Whereas, the Aadhaar is a 12-digit biometric number issued by the issuing authority the Unique Identification Authority of India (UIDAI) to the residents of India. It bears an individual's biometric details such as iris scan and fingerprints as well as demographic information such as birth date and address.
What is the need to link PAN and Aadhaar with a bank account?
As per the current banking norms, it is mandatory to quote PAN number while making a cash transaction of Rs 50,000 or more. Even though it is not obligatory to link your UID with our bank account, Aadhaar card serves as an identity proof under Know Your Customer (KYC) rules.
You can link your PAN with your State Bank of India (SBI) bank account through its internet banking portal, onlinesbi.com. You don't need to visit the bank's branch to do so but if you want to do so online, you will have to register for the internet banking facility first. Then you must have an active ATM card, as well as your mobile number must be registered with your bank account.
Here are the steps to follow if you want to link your PAN with your SBI account:
Note- If you have not registered yourself for Internet Banking, then you can do so online using your ATM cum Debit card details.
You can also visit your nearest SBI branch to get your PAN linked with your bank account. Follow these steps: