Complete Guide to SBI KYC Form for Company
Complete Guide to SBI KYC Form for Company
Introduction
SBI KYCs are mandatory for all businesses to prevent money laundering. Through this, banks can verify your company's identity and address. SBI offers two types of KYC forms: simplified and regular. For most businesses, the simplified KYC form is sufficient.
Types of SBI KYC Forms for Company
| Type | Purpose |
|---|---|
| Simplified KYC Form | For businesses with annual turnover less than Rs. 50 lakhs |
| Regular KYC Form | For businesses with annual turnover of Rs. 50 lakhs or more |
Documents Required for SBI KYC Form for Company
| Document | For Companies |
|---|---|
| Certificate of Incorporation | Yes |
| PAN Card | Yes |
| Memorandum and Articles of Association | Yes |
| Income Tax Returns (ITRs) | Last 3 years |
| Audited Balance Sheets | Last 3 years |
| Proof of Address | Utility bills, property tax receipts, etc. |
How to Fill SBI KYC Form for Company
- Download the form from the SBI website.
- Fill out the form with the required information.
- Attach the necessary documents.
- Submit the form to your SBI branch.
Common Mistakes to Avoid
- Not filling out the form completely.
- Not attaching all the required documents.
- Submitting the form to the wrong branch.
Success Stories
- XYZ Company was able to open an SBI account within a week by using the simplified KYC form.
- ABC Company was able to avoid money laundering charges by submitting their KYC form on time.
- PQR Company was able to secure a loan from SBI by providing all the required KYC documents.
FAQs About SBI KYC Form for Company
- What is the difference between simplified and regular KYC forms?
Simplified KYC forms are for businesses with annual turnover less than Rs. 50 lakhs, while regular KYC forms are for businesses with annual turnover of Rs. 50 lakhs or more.
- What are the documents required for a simplified KYC form?
Certificate of Incorporation, PAN Card, and proof of address.
- What are the documents required for a regular KYC form?
Certificate of Incorporation, PAN Card, Memorandum and Articles of Association, Income Tax Returns (ITRs), Audited Balance Sheets, and proof of address.
- Where can I download the SBI KYC form?
You can download the form from here.
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