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Steps on how to link PAN card with bank account

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Created on
November 8, 2022


What’s Inside

One of the integral parts of money is taxes, and the essential part of taxes is earning. So, how does the Income Tax Department (ITD) know about your earnings? The answer is simple: your bank account. And that is why linking your PAN card with your bank account is important. 

Let's look at the nitty-gritty of linking a bank account with a PAN card. 

Why do you have to link your PAN card with your bank account?

The Central Board of Direct Taxes (CBDT) has made it mandatory to link the PAN numbers of individuals and other entities with their savings accounts. This mandate was introduced to transfer your income tax refunds directly to your savings bank account. 

The Reserve Bank of India (RBI) has also put certain restrictions on your savings account transactions if your PAN is not available. You must link your bank account with your PAN card to enable them. 

On 15 December 2016, the RBI mandated several restrictions on a savings account that has yet to undergo the new KYC norms. As per the restrictions, no transfer or debit services could be availed by account holders who don't have a Permanent Account Number (PAN). 

Thus, linking a bank account with a PAN card is important for smooth banking services. 

How to link PAN card with a bank account online? 

Follow these steps to complete linking your PAN card with your bank account:

  1. Make a list of your existing bank accounts.
  2. Login to the internet banking portal of your bank.
  3. Go to your dashboard and look for tabs such as 'Services', 'Service Request', 'Link Aadhar/PAN' or 'Update PAN'.
  4. Select the appropriate option, and you should be directed to the PAN card linking page in your banking app. 
  5. Enter your PAN, your date of birth and your registered email address. 
  6. Check the details before proceeding.
  7. Submit the details, and your bank account will be linked to your PAN within seven working days of your application.

Quick and simple, isn't it?  

To conclude

You are required to connect each of your bank accounts individually while completing your KYC process.

Frequently Asked Questions

1. Is a PAN card automatically linked to a bank account?

No, your PAN card won't be automatically linked to the bank account. You can get your PAN linked with your bank account by contacting your bank or through their website. Linking a PAN card with a bank account is essential because it helps track financial transactions and ensures that the bank account is KYC compliant.

2. What happens once you link a PAN card to a bank account?

Linking PAN Card with bank account increases transparency and helps the government track transactions, KYC compliance and more. Overall, it allows individuals in filing for income tax. Once your PAN is linked, you can fetch pre-filled information around your account, making tax filing easier. It also helps file for ITR and ensure you weren't charged TDS wrongly.

3. Is it mandatory to link PAN to a bank account?

Yes, it is mandatory for your bank account and PAN to be linked. The Indian government has made this mandatory for transparency and ease during the Income Tax process.

4. How can I get my PAN card number linked?

You can check if your PAN card is liked to your account in the following ways:

  1. Online Banking Portal: You can log in to your bank's website/portal and check your account details. If your PAN card is linked to your bank account, it should be mentioned in the account details.
  2. Visit Bank Branch: You can visit the branch where you have your bank account and ask the bank representative to provide you with the details.
  3. Check IT Department Portal: You can check the PAN card details on the official website of the Income Tax Department. To check the details, you must provide your PAN card number and date of birth.

5. What is the fee/charge for PAN - Bank Account linking?

There is no fee for non-linkage of PAN Card with your bank account. However, failure to link will result in certain limitations, such as being unable to open a fixed deposit account or deposit cash exceeding Rs. 50,000. Furthermore, if the interest earned on your fixed deposit exceeds Rs. 40,000 (exceeding the current 10% limit), a TDS deduction at a rate of 20% will be applicable.


Fi Money is not a bank; it offers banking services through licensed partners and investment services through epiFi Wealth Pvt. Ltd. and its partners. This post is for information only and is not professional financial advice.
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