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Having a huge customer base in India and abroad, Canara Bank requires all the citizen customers to submit their PAN Information and link their PAN Cards to their bank accounts. PAN Card is also a mandatory requirement in opening any new account with the Bank. If for some reason, the customer does not hold a valid Pan Card at the time of opening the Bank account, he/she has to submit Form 60/61. The customer will also have to provide a valid reason in writing for not holding a valid PAN Card at such time. As for the existing customers, they have to update or link their PAN Card to their Bank account as soon as possible to avoid any unnecessary difficulty in doing their banking transactions or being taxed extra for any interest earnings on any of their deposits.
About How To Link Pan Card To Canara Bank Account
The procedure to link the PAN Card to the Canara Bank Account is very simple and hassle free. Although Canara Bank does not have an online mode to link the PAN Card to the bank account, customers can link their PAN Cards by simply visiting their home branch. The entire process is quick and will take hardly 15-20 minutes. The customers can follow the steps given below to link their PAN Cards to their Bank accounts in a quick and efficient manner.
Customers can also contact the customer care of Canara Bank for any assistance in information required for linking their PAN Card to their Canara Bank Accounts. The customer care executives available 24x7 throughout the year (except the three National Holidays i.e., 26th January, 15th August and 2nd October) can guide the customers with the process as well as the documents required and the time taken for such updation of linking of the PAN Card.
There are many benefits of linking one’s PAN Card to their Canara Bank Account. Some of such benefits are stated below.
Linking of PAN Card even though not made mandatory, there are numerous consequences of not linking one’s PAN Card to his/her Canara Bank account. Some examples of such consequences are listed below.
1. What is the customer care number of Canara Bank?
The toll free customer care number for Canara Bank is 1800 425 0018.
2. Is PAN Card necessary for Bank Accounts?
Yes. As per the revised guidelines by RBI, a person has to mandatorily submit his/her PAN Card and Aadhaar Card while opening a new bank account and existing customers have to link the same with their bank accounts as soon as possible.
3. Can a person deposit any amount in their Bank account if their PAN card is linked?
Yes. There is no limit in depositing any amount in one’s Bank account if the same is linked with the person’s PAN Card.
4. Is Pan Card required for Cash withdrawals?
Yes. For Cash withdrawals exceeding Rs. 50,000, PAN Card is a mandatory requirement.
5. IS Pan Card necessary for real estate transactions?
Yes. PAN Card is a mandatory requirement for real estate transactions exceeding Rs. 10,00,000.
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