When is video KYC needed for booking an FD?
"Video KYC is an RBI mandated process which is a one-time requirement for each bank. Below are the conditions when a V-KYC is required.
Video KYC is required if:
- If you are booking your 1st FD with a particular bank with an amount greater than ₹90,000 or tenure greater than 1 year
- If you are booking your 2nd FD with a particular bank, wherein the 1st booking didn’t require a video KYC?