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Are rent agreement a valid address proof


05-Apr-2023 (In Documentation Law)

I scrolled through the rbi website and found that Rental Agreement or Lease deed is a valid address proof for opening a bank account. Now, whether Private banks or Government banks, none of them accept rent agreement as a valid proof of address.. I also read an article, http://m.thehindubusinessline.com/news/now-submit-single-proof-of-address-to-open-bank-account/article6097783.ece It mentioned that rent agreement is valid address proof for bank account. So, my question is Are banks not supposed to these guidelines set by rbi? Or are they entitled to set their own conditions

Answers (2)

Answer #1
694 votes
Hi, banks are supposed to follow the guidelines set by RBI. If the Rent agreement is registered by the State Government of similar registration then it is valid address proof as per the guidelines of the RBI.
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Answer #2
873 votes
Rental agreement serves as a proof of residence, especially when you have to apply for local services such as for getting an internet connection, getting gas connection, applying for driving licence, creating bank account, buying a new sim card, etc. Also, if you do not have any permanent address proof documents like Aadhaar card or ration card, you will need a rent agreement document. Banks are supposed to follow the guidelines set by RBI. If the Rent agreement is registered by the State Government of similar registration then it is valid address proof as per the guidelines of the RBI.

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