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Bank of India (BOI) is one of the oldest public sector banks in India. Established in 1906, the bank has played a crucial role in India's economic development by supporting industry, agriculture and several government initiatives.
This article will help you understand how to link your PAN with your Bank of India account. You can do this through internet banking, using the app, calling customer care service, or visiting the branch in person.
It is essential to have the following prerequisites in place before you initiate the linking process:
Valid PAN Card: Make sure to hold a valid Indian PAN card issued by the Income Tax Department of India in your name.
Active Bank Account: It is mandatory to have an open and fully functional bank account.
Updated Contact Information: It is crucial to ensure that your bank has your current mobile number and email address.
Internet Banking/Mobile Banking Credentials: It is important to check if the bank has the latest mobile number and email address for further contact.
You can link your PAN card with the Bank of India through the following ways:
The process of linking your PAN card through Internet Banking is as follows:
Step 1: Head to the official website of the Bank of India.
Step 2: Provide your User ID and password and log in to your Bank Of India internet banking account.
Step 3: Access the ‘Service Request’ option.
Step 4: Now, choose the PAN Updation option.
Step 5: In the indicated field, input your PAN card number, date of birth and registered email ID.
Step 6: Verify all the entered data and Submit.
Step 7: You will get a message from the Bank Of India to your registered mobile number once the process is complete.
Follow these steps to link your PAN card with your Bank Of India Account via the mobile application:
Step 1: Download and install the Bank Of India banking app from the Google Play Store or the Apple Store.
Step 2: Register and log in using your mobile banking credentials.
Step 3: Navigate to the option to link your PAN card and enter your details.
Step 4: Verify the details that you have entered and tap on the Submit option.
Step 5: You'll receive a notification once your PAN card is linked to your bank account using your registered mobile number.
If you want to link your PAN card through the customer care service, these are the steps to keep in mind:
Step 1: Dial the Customer Care Number of Bank of India from your registered mobile number (1800 103 1906)
Step 2: Next, navigate the IVR selections to choose the option to speak directly with a customer care executive.
Step 3: Once connected, request the customer care executive that you wish to link your PAN to your account.
Step 4: The customer care executive may ask for your full name, address, PAN card number and date of birth for verification purposes.
Step 5: Once the linking is processed, you will receive a notification through email/SMS from the Bank of India confirming the completion of the linking process.
In case you wish to link your PAN card by visiting the bank, follow the steps mentioned below:
Step 1: Visit any branch of the Bank Of India.
Step 2: Request the bank representative for a PAN Card update form (KYC form).
Step 3: In the spaces indicated, provide all the necessary details accurately.
Step 4: After you have filled out the form, cross-check the details provided and submit the form with a self-attested copy of your PAN card at the helpdesk.
Step 5: When submitting the form, the bank may ask you to write a letter to the Branch Manager.
It is important to ensure that your PAN and bank account are not already linked before proceeding with the linking process.
Linking your PAN (Permanent Account Number) card with your bank account in India has several benefits. Some of these are mentioned below:
The Income Tax Department makes linking PAN with bank accounts mandatory to ensure compliance with tax regulations.
The Know Your Customer (KYC) process becomes more streamlined once you link your PAN card with your bank account.
With your PAN card linked to your bank account, it becomes easier to receive tax benefits. Additionally, it helps in simplifying the process of filing income tax returns.
Linking PAN helps in tracking financial transactions seamlessly. It becomes easier for the government to monitor large and suspicious transactions.
Linking a PAN is mandatory for certain high-value transactions, such as fixed deposits. This linkage makes sure that you can carry out these transactions in a hassle free manner.
Having your PAN linked to your bank account simplifies the verification process for financial institutions. Hence, it facilitates quicker processing and approval when applying for loans.
Once your PAN is linked to your bank account, it ensures accurate TDS deduction and helps provide the correct TDS certificates.
Having your PAN linked with your bank account is essential for various online transactions and digital banking. It ensures a secure online operation.
If you are eligible for government subsidies or benefits, these funds are directly credited to your account without delays once your PAN card is linked to your bank account.
Ensuring that your PAN card is linked with your Bank of India account for seamless financial transactions is important. This not only provides additional protection for your financial records but also brings benefits such as expedited transactions.
You can link your PAN card with the Bank of India account in multiple ways, such as via Internet Banking, Mobile Application, or walk-in branch visits.
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