Top 10 Systematic PAN Full Forms

The full form of PAN Stands for “Permanent Account Number” The PAN is your unique identification code and access root to enter your financial transaction record from your bank. All scheduled banks and financial institutions providing electronic access to account holders without any hurdle.

Top 10 Systematic PAN Full Forms

The PAN is necessary to identify the account holder’s nationality as well. It is mandatory to open a PAN account in any bank if you employed with a company where an employee’s salary paid through the bank. 

The PAN number contains a ten digits alphanumeric combination provided by the Income Tax department. It is issued under the Income Tax Department Act of 1961, subsection 139A.

Full-Form of PAN in Computer:

The full form of PAN allows the user to interconnect many computer devices with each other to share soft data and images from one to another computer device easily. Mobile users can also use to transmit information, text, or message from mobile to computer, tablets with a single click.

What Are The Benefits of a Personal Account?

Financial instauration i.e. banks are responsible to maintain your financial transactions safe and secure and provide you a lot of facilities to avail yourself through your personal account.  Bank can offer you loan facilities to enhance your business, financial assistance to home renovation, and building a new house.  Car loan facilities offered by all banks to its clients, Agriculture loan facilities for farmers including more facilities to clients according to the bank's policies.

Banks Offer The Following Facilities to Clients:

  • Free checkbook
  • Free mini e-statement of financial transactions
  • Emergency Loan Facilities for Business
  • Loan against salary (only for employees whose salary coming in the bank)
  • Client’s life insurance (with a small contribution from the account holder)
  • Mobile banking facilities
  • Safety of your financial assets

What is Personal Account Number?

Personal account number that includes transaction information regarding individual the person or an organization with which your business has the direct dealings are known as the personal account number. Few examples of personal accounts are customers, vendor, and employee salary, deposit, and drawing of the owner, etc. However, there are many types of account clients can open to run their financial transaction i.e. PLS account, Current Account, Fixed term account, normal account, business account, and international bank account (IBN) where the client can easily deposit amount online through ATMs, or direct transfer facilities from own laptop from home.

What Are Key Features of Personal Account Number?

A personal account is a General account connected to all persons like individuals, businesses, firms, and organizations. An example of a Personal account is a Creditor Account. A Nominal account is a General ledger account pertaining to all income, expenses, losses, and gains.


5 Types of Accounts in Bank:

The chart of accounts maintained your finances into 5 key folders, called accounts: assets, liabilities, equity, revenue, and expenses.


Is Bank Providing a Personal Account Number?

Bank the account is an example of a personal account and not a nominal account. All the accounts related to an individual, a firm, or a company are termed personal accounts. Hence, the bank account is an example of a personal account.

Full-Form of PAN=  Permanent Account Number

Top 10 Full Forms of PAN Commonly Use

PAN- Permanent Account Number

PAN- Personal Area Network

PAN- Presence Across Nation

PAN- Peoples Account Number

PAN- Policy Align Network

PAN- Permanent Access Network

PAN- Party Account Nature

PAN- Provide Actual Name

PAN- Payment Account Name

PAN- Polite Action Needed

FULL FORM LINKS









No comments: