In recent years, India’s journey towards digitalisation has significantly changed how we manage personal identification and banking.
Central to this advancement has been the Aadhaar system, a crucial initiative for integrating the Indian populace into a unified banking system.
This has not only simplified identification but also ensured that every citizen, regardless of their background, has access to essential financial services. More than that, it also brings to the table certain financial benefits that make linking Aadhar to your bank account all the more worthwhile.
In this blog post, we’ll go over the Aadhar link to bank account process and the benefits that come with doing so.
Aadhar link to bank account: online methods
There are two ways you can carry out the Aadhar card linking process online – via internet banking or a mobile app.
To link your Aadhaar Card with your bank account through Internet banking, follow these general steps:
Step 1: Access your bank’s internet banking portal.
Step 2: Enter your username and password to log in.
Step 3: Navigate to the “Update Aadhaar with Bank Accounts (CIF)” option located under the “My Account” section.
Step 4: If required, enter your profile password for Aadhaar Registration.
Step 5: A new page will open where you need to enter your Aadhaar number twice for confirmation.
Step 6: After entering your Aadhaar details, click on the “Submit” button.
Step 7: Upon successful submission, you will receive a notification confirming the linkage of your Aadhaar with your bank account.
Aadhar link to bank account can also be done conveniently through your bank’s mobile app. Here’s a general guide on how to do it:
Step 1: Download your bank’s mobile banking app from the Google Play Store or the App Store.
Step 2: Open the app and log in using your account credentials (username and password). Complete any additional security verification checks if prompted.
Step 3: Navigate to the “Requests”, “Service”, or a similarly named section within the app.
Step 4: Look for an option titled “Link Aadhaar”, “Update Aadhaar Number”, or something along those lines.
Step 5: Select the bank account you wish to link with your Aadhaar.
Step 6: Enter your Aadhaar number. You may need to re-enter it for confirmation purposes.
Step 7: Agree to any relevant terms and conditions that are presented.
Step 8: Finalize the process by selecting “Update”, “Confirm”, or a similar option to complete the linking.
How to link your bank account with Aadhaar offline?
To link your Aadhaar with your bank account offline, you can follow these steps:
Step 1: Visit your nearest bank branch.
Step 2: Make sure to carry your original Aadhaar card or e-Aadhaar.
Step 3: Once at the bank, fill in a letter of request provided by the bank for linking Aadhaar.
Step 4: Submit this request form along with a photocopy of your Aadhaar card.
Step 5: The bank will process your request and carry out the necessary verification.
Step 6: After the linking is completed, you will receive a confirmation SMS on your registered mobile number informing you of the status of your request.
If visiting your bank branch isn’t possible, you can also complete the Aadhar link to bank account process at an ATM. Here’s how to do it:
Step 1: Visit your bank’s ATM and insert your debit card.
Step 2: Enter your ATM PIN when prompted.
Step 3: Select the “Services” or similar option from the ATM menu.
Step 4: Choose “Registrations” and then select “Aadhaar Registration” to initiate the linking process.
Step 5: Enter your 12-digit Aadhaar number. You might need to re-enter it for verification.
How to check the Aadhar link status?
To verify if your Aadhar link to bank account process is complete, follow these simple steps using the mAadhaar app:
Step 1: Start by installing and logging into the mAadhaar app on your smartphone.
Step 2: Select ‘Aadhaar-Bank Acc Link Status’ from the ‘My Aadhaar’ section in the app.
Step 3: Input your Aadhaar number and the security captcha displayed. Then, tap on ‘Request OTP’.
Step 4: You’ll receive an OTP on your registered mobile number. Enter this OTP and click ‘Verify’.
Benefits of linking Aadhaar card with your bank account
Linking your Aadhaar Card to your bank account offers a multitude of benefits, including:
Legal KYC Document: The Aadhaar Card serves as a recognized legal document for Know Your Customer (KYC) verification. This simplifies the process of opening new bank accounts, as it fulfils a key regulatory requirement.
Direct Benefit Transfer (DBT): Aadhar bank account linkage ensures the direct transfer of government subsidies for commodities like LPG, kerosene, and ration, straight into your account.
Efficient Disbursement of Government Schemes: Be it MNREGA wages, welfare payments, scholarships, or pensions, having your Aadhaar linked to your bank account enables direct and prompt disbursement of these benefits without any intermediaries.
Increased Transparency and Accountability: By linking Aadhaar to bank accounts, the flow of funds becomes more transparent and accountable, ensuring that the benefits reach the right people and minimising the possibility of leakages in public expenditure.
Nationwide Access through AEPS: The Aadhaar Enabled Payment System (AEPS) allows you to access your bank account from anywhere in India. This interoperable framework ensures that no matter where you are, your financial resources are just a fingerprint verification away.
Parting thoughts
Now that you’re aware of the multiple ways you can get Aadhar linked to your bank account, you can simplify many financial processes like credit card applications, opening a de-mat account, setting up UPI, and applying for loans.
Talking about loans, we at Tata Capital bring you affordable personal loan options that allow you to get the required funds quickly and without any hassles, thanks to our easy eligibility and simplified loan application process. Moreover, with affordable personal loan interest rates, easy eligibility, and flexible repayment schedules, you can manage your debt without any financial worries.
So, why wait? Check out our loan options on our website and apply today!
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08 November 2024
6 mins read
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