KYC essentially meants Know Your Customer.
If you are opening any deposit account where you would deposit your money, then it is mandatory that you provide some information about you (the customer).
It can be a savings bank account or any deposit account like an RD or FD, or it can be a Demat account – in any case, if you want to deposit your money into that account, the concerned financial institution should collect your details.
The system that facilitates this is KYC – Ideally you would need to fill out a KYC form to provide your information to the institution.
Most banks now attach a KYC form along with the account opening form for you to fill in.
If KYC information is not collected during account opening, you will have to complete the process separately by filing out a KYC form.
In this video I demonstrate how to fill out the KYC form of SBI bank. If you have to fill out a SBI KYC form, refer to this video so you can fill out the form without any mistakes and complete the process as smooth as possible!
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