Min accounts have certain restrictions as per bank policies:
If your account was created before 1st of August 2023
A min KYC user's account balance cannot exceed ₹1 Lakh.
Total amount added to this account (in one financial year) cannot exceed ₹2 Lakh.
Min KYC accounts only have a validity of 350 days, after which it expires & the account is closed unless such account is upgraded to a Full KYC Account.
If your account was created on or after 1st of August 2023
A min KYC user's account balance cannot exceed ₹50,000 till validity of the min KYC account
Total amount added to this account cannot exceed ₹50,000 till validity of the min KYC account.
Min KYC accounts only have a validity of 350 days, after which it expires & the account is closed unless such account is upgraded to a Full KYC Account.
If you have a min KYC account, these limits will be removed once you upgrade to a full KYC account. You can do this by starting a Video KYC call from the Home screen of the Fi app.
Here's how you can check if you're a Min KYC user: