Minimum KYC account

What is a min KYC account?

A Min KYC account is opened after electronically validating a customer's credentials, according to Reserve Bank of India requirements (e-KYC). Most e-KYC methods rely on a One-Time-Password (OTP).


Certain regulatory limitations apply to Min accounts:

The account balance of a minimum KYC user cannot exceed one lakh rupees.
The total money deposited into this account in a fiscal/financial year cannot exceed 2 lakh.
Min KYC accounts have a one-year validity period after which, it expires and the account is closed.