HDFC Bank Video KYC for Personal Loans & Savings Accounts

21 Sep 2020 // 21 min read // Personal Loans
Author :(560 posts)
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HDFC Bank has officially launched video KYC (Know Your Customer) facility for new customers. Now prospective customers can Apply for Personal Loan or open Salary Account 100% digitally.

The process for video KYC is completed in real-time online. For digital verification the interaction between a Bank official and the customer will be recorded to establish the identity. The process will be thoroughly paperless and contactless.

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The bank has launched the consent-based Video KYC facility as an alternate method to verify the customer’s identity in a safe and secure environment digitally. The facility has been launched in a phased manner, wherein in the first phase it is available for HDFC Personal Loans, Savings Account and Corporate Salary Accounts. The other products will be soon added.

HDFC Bank’s Video KYC: The Process

To use video KYC facility, a customer will require following:

  • The customer will need original PAN card.
  • Also, the customer should be in India while performing the video KYC process.

The steps:

  • First up, Aadhaar OTP-based EKYC needs to be completed while completing bank application form.
  • As the customer completes Aadhaar eKYC through the Bank Website or app (Account Opening App available on Playstore), a link is shared on a registered mobile & email.
  • Through this link the customer is connected to a bank official who will complete the video KYC process.
  • The official will verify customer details, and click pictures of customer and his/ her PAN Card.
  • The Video KYC’s audio-video interaction is checked before activating the account.

Amid COVID Times, RBI has said that Video KYC is equivalent to full KYC. Thus you can access all financial and banking products as per your eligibility. There are no limitations, whatsoever.

The facility of video KYC can be accessed on all working days from 10 am to 6 pm.

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Frequently Asked Questions (FAQs)
 

✅ What is Video KYC?

Video KYC is a consent-based, audio-visual know-your-customer facility. Using Video KYC, the bank can facilitate bank products without any contact. The process can be compelted from the comfort of customers’ home. In this process a bank official records an interaction with customer to establish identification for KYC. Thus you no longer need to visit the branch for opening the account or applying for loan.

✅ Who can use HDFC Video KYC facility?

HDFC Video KYC is open to resident Indians above 18 years of age. The applicant should also share consent or approval to open relationship with bank through Aadhaar OTP based KYC. An Original PAN Card will also be required.

✅ What is AMB requirement for Video KYC based Saving Account?

Average Monthly Balance (AMB) will be as per the chosen product.

✅ Do video KYC accounts have limited access to HDFC facilities?

No. The Video KYC process is just like a full KYC process. No limitations are placed for such accounts.

✅ How do I complete Video KYC for HDFC Loan/ Savings Account?

The steps for video KYC are: 1) Fill up a digital Personal Loan or Savings Account form online. 2) Provide consent for video KYC 3) Following the consent, a Bank official will join to complete the process.

✅ Are there any advantages of video KYC?

Yes, the process can be completed in the real-time from your home. There is zero-contact and thus it is completely safe and convenient process.

✅ What all do I need to for Video KYC application?

You will require following:

  • A smart phone, or laptop, or desktop for Audio and Video recording
  • A blank sheet of plain paper.
  • A black pen
  • A well lit room where you will take the video call
  • A plain wall (background)
  • Good internet connection with uninterrupted connectivity
  • The customer should be in India to complete this process.
  • The device should not use VPN, Proxy or Static IP during the process

✅ Can I use Video KYC for my Insta Account opened recently?

No, the facility is meant for new customers only. To complete your KYC visit the nearest HDFC Bank branch with original KYC Documents.

✅ Do I require WhatsApp or Skype for Video KYC?

No. After you complete digital form, a link is shared for completing Video KYC. Any third party platform like WhatsApp, Skype or Zoom is not required.

✅ Why Location access is required for Video KYC process?

The location access is for verification purpose only and it completely as per the RBI guidelines.

✅ If my Video KYC process failed, how can I continue?

The URL provided for video KYC is valid for 72 hours after the completion of Digital Application/ Form. So you can re-try on next working day between 10 am to 6 pm. If the problem persists, kindly visit the branch so that an official can help you complete the process.

✅ What are time slots for HDFC video KYC process?

The video KYC can be completed on all working days between 10am to 6 pm.

✅ I made a mistake in between my video KYC process what should I do?

Restart with the same URL as it is available for 72 hours.

✅ My details are not correct, how do I reject video KYC?

Kindly decline the process and visit the nearest HDFC Bank branch to complete KYC.

✅ After Video KYC how long it takes to open an account?

Within 4 working days you will get account details on your registered mobile number and email id.

✅ Are there any system or device requirements for HDFC Video KYC?

Following devices and browsers are incompatible for HDFC Video KYC. Use an alternative for completing the process.

Phone/ Device
Honor 10 Lite
Honor 7X
Samsung galaxy A20
honor9lite
Samsung Duos
Iphone 11
Samsung J2
Iphone 7 Plus
iPhone XR
Lenovo K8 Plus (XT1902 – 2 )
Mi Max 2
moto E3
Moto e3
Moto e4 plus
Samsung J5 Prime
Moto G 4
Oppo A83
oppo f1s
Samsung j7 prime
oppo F5
Oppo f5 youth
oppoF1s
Redmi 4
redmi 4a
Redmi 5A
Redmi Note
Samsung Galaxy A7 2018
SM-G610F
vivo Y95
vivo z1x
vivo1718
OS (operating system)
Android 5.1
Android 5.1.1
Android 7.1.2
IOS Version 11.4.1
Chrome Version
Chrome 50.0.2661.89
Chrome 61.0.3163.98
Chrome 70.0.3538.110
Chrome 73.0.3683.90
Chrome 80.0.3987.16
Chrome 80.0.3987.87
Chrome 80.0.3987.99
Chrome 80.03987.119

Also Read: Check your HDFC Bank Personal Loan Eligibility

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