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Punjab National Bank is a public sector bank and is a well known name in a banking world. Post its merger with United Bank of India and Oriental Bank of Commerce, PNB has become the country’s second largest lender. PNB has various products and services catering to both retail customers as well as corporate customers. PNB is also privy to many Government schemes and initiatives that have been taken over the decades for the welfare and upliftment of the citizens of the country. For all such schemes, one of the foremost and mandatory requirements is submitting or furnishing the PAN Card. PAN Card is one of the most important documents issued by the Government of India to its citizens. PAN Card is the Permanent Account Number, a unique number allotted to the citizens of the country. Once issued, PAN card is valid for the lifetime of the PAN card holder. It can be used as an Identity Proof or fulfilling the KYC requirements in various schemes or even for applying loans of the Bank.
Linking the Pan Card to a bank account is not mandatory. However, the bank requires the bank account to be linked with the PAN Card for various transactions like funds transfer, applying a loan, credit/debit cards, starting a fixed deposit, etc. Also, the Income Tax department mandatorily required the account holder to link his/her bank account with the PAN Card. This is mainly to ease and authenticate any refund proceedings. Thus, linking of PAN Card to the bank account of the account holder is deemed mandatory.
About How To Link PAN Card To PNB Account
The linking of PAN Card with the PNB Account can be done via online mode as well as offline mode. The process of linking the PAN Card in each case is fairly simple and is stated below.
Online method to Link PAN Card to PNB Account
The basic requirement to link the PAN Card to the PNB Account via online mode is to have the net banking facility activated for that particular account. The user can follow the steps given below to execute the process of linking the PAN Card.
Offline method to link PAN Card to PNB Account
The offline method to link the PAN Card with the user’s PNB account is by physically visiting the nearest branch of the bank or the branch having the user’s bank account. The steps for the same are listed below.
Linking PAN Card to PNB Account via Customer Care Service
Another easier way to link the PAN Card to the user’s account number is to link it using the customer care service. The user can update the PAN card via this method through the following steps.
The user can easily link his/her PAN Card using any of the three methods mentioned above. The user gets many benefits by linking their bank account with the PAN Card like reduced TDS on taxable income due to interest on fixed deposits or enhanced limit for cash or credit transactions, etc.
Linking of PAN Card even though not made mandatory, there are numerous consequences of not linking one’s PAN Card to his/her PNB account. Some examples of such consequences are listed below.
1. What is PAN Card?
PAN Card is a 10 digit unique Permanent Account Number issued by the Income Tax Department to each individual taxpayer which also serves as an identity proof and address proof across various Government schemes and/or with Banks/other financial institutions to fulfill their KYC norms to open a new account or apply for a loan, etc.
2. Can a person link his/her PAN Card to their PNB Account using net banking?
Yes. One of the easiest ways to link PAN Card to one’s PNB Account is to do it using the net banking facility by logging into their net banking account.
3. Is PAN Card mandatory for all account holders?
PAN Card is mandatory for all account holders except small savings bank account holders as well as Jan Dhan Account holders. For such account holders, Form -60 has to be duly submitted and a valid PAN Card has to be submitted within 6 months of opening the account.
4. Can PAN Card details be changed?
PAN Card is a valid Permanent Account Number issued to the citizens of India and once issued is valid for their entire lifetime. However, the details on PAN Card like mobile number, address, etc. can be changed or updated via requisite forms.
5. Is PAN Card a necessary document for any fixed deposits?
Yes. PAN Card is a mandatory document that needs to be submitted for starting any fixed deposits exceeding Rs. 50,000.
Alteration Of Name In PAN Card After Marriage
Bulk PAN Verification
Documents Required For PAN Card
Download E PAN
Duplicate PAN Card Or Reprint PAN Card
Fees And Charges For PAN Card
Form 60 PAN Card Not Available For Rule 114b Transactions
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How To Check PAN Card Delivery Status
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How To Check Your PAN Aadhaar Linking Status
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Instant PAN Using Aadhaar
Know Your PAN
Know Your Tan
Lost PAN Reapply
PAN Card Application
PAN Card Customer Care Number
PAN Card Details
PAN Card Eligibility
PAN Form 49a
PAN Form 49aa
PAN Number For Income Tax
Permanent Account Number PAN Form
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