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What a Small Account is
RBI’s KYC Master Direction defines a Small Account tier that allows a bank to open a basic savings account with relaxed identity-document requirements, subject to caps on balance and annual transaction value.
Why the relaxed tier exists
It is designed to bring customers who may lack a full set of Officially Valid Documents into the formal banking system, without waiving KYC entirely. The tradeoff is a hard ceiling on how much money can move through the account until fuller KYC is completed.
Related terms
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More about Small Account KYC
To learn more about Small Account KYC, explore our Bank Account Verification API and Penny Drop Verification API, or talk to our team. For the official source, see the Reserve Bank of India website.
