All You Need to Know About KYC Through DigiLocker

Know Your Customer (KYC) verification is a crucial step for financial transactions, ensuring security and compliance. DigiLocker, a government-backed digital platform, makes KYC verification easier and paperless. If you are wondering how to do KYC in DigiLocker, this guide will walk you through the process and its benefits.

What is DigiLocker?

DigiLocker is an online document storage and verification platform launched by the Indian government. It allows users to store, access, and share important documents like Aadhaar, PAN, driving licences, and educational certificates. Many banks, financial institutions, and fintech platforms now accept KYC through DigiLocker for quick and secure verification.

Why Use DigiLocker for KYC?

Using DigiLocker for KYC offers several advantages:

• Paperless Verification – No need to submit physical copies of documents.
• Instant Processing – KYC approval happens within minutes.
• Secure and Government-Approved – Ensures data privacy and authenticity.
• Widely Accepted – Used by banks, loan providers, and financial services.

How to Do KYC in DigiLocker?

Follow these steps to complete your KYC in DigiLocker:

Step 1: Register on DigiLocker

1. Visit DigiLocker’s official website or download the mobile app.
2. Click on ‘Sign Up’ and enter your Aadhaar number and mobile number.
3. Set up a username and password to create your DigiLocker account.

Step 2: Link Aadhaar to DigiLocker

1. Log in to DigiLocker using your credentials.
2. Go to ‘Issued Documents’ and select ‘Aadhaar’.
3. Authenticate using OTP sent to your Aadhaar-linked mobile number.

Step 3: Fetch KYC Documents

1. In the DigiLocker dashboard, navigate to ‘Issued Documents’.
2. Select the document required for KYC, such as PAN card or Aadhaar.
3. Click on ‘Share’ and choose the financial institution requesting your KYC.

Step 4: Submit for KYC Verification

1. Visit the bank or financial platform’s website requiring KYC.
2. Select the DigiLocker option under KYC verification.
3. Log in and allow access to required documents.
4. Submit for verification, and approval is usually instant.

Where is DigiLocker KYC Used?

DigiLocker-based KYC is accepted in various sectors, including:

• Bank Account Opening – Many banks accept DigiLocker for paperless KYC.
• Applying for a Personal Loan – Loan providers use DigiLocker for quick document verification.
• Stock Market Investments – KYC verification for Demat accounts and mutual funds.
• Insurance Services – Required for purchasing or renewing policies.

How DigiLocker KYC Helps in Getting a Personal Loan

If you need funds for travel, emergencies, or other expenses, a personal loan is a great option. DigiLocker KYC makes the process faster by eliminating physical document submission.

Benefits of Using DigiLocker for a Personal Loan:

• Instant KYC verification speeds up loan approvals.
• Reduces paperwork and simplifies the loan application process.
• Enhances security and ensures document authenticity.

Conclusion

DigiLocker simplifies KYC verification by offering a secure and paperless method for document sharing. If you need to complete KYC for a bank account, investments, or even a personal loan, DigiLocker is a fast and convenient option. Now that you know how to do KYC in DigiLocker, you can easily verify your identity and access financial services without hassle.