How much cash can I deposit at SBI Non-Home branch?

Rs 2 lakh per day
Rs 2 lakh per day is the maximum limit for the deposit of cash at the SBI non-home branch.

What is the limit of cash deposit in bank per day?

Cash deposits, while allowed in a fixed deposit (FD), should not exceed ₹10 lakhs. You can make large FD transactions through other traceable means such as cheques or internet banking. Credit card bill payments also have a limit of ₹1 lakh.

How much cash can be deposited in bank?

If you deposit more than $10,000 cash in your bank account, your bank has to report the deposit to the government. The guidelines for large cash transactions for banks and financial institutions are set by the Bank Secrecy Act, also known as the Currency and Foreign Transactions Reporting Act.

How much cash can be deposited in savings account?

The cash deposit limit on savings accounts is ₹1 lakh. Depositing more than ₹1 lakh in a savings account may attract the attention of the IT department. There are also certain savings account withdrawal limits that you should know.

Is there a limit to cash deposits?

Under the Bank Secrecy Act, banks and other financial institutions must report cash deposits greater than $10,000. There is nothing illegal about depositing less than $10,000cash unless it is done specifically to evade the reporting requirement.

Can you deposit large amounts of cash?

Federal law governs the reporting of large cash deposits. Depositing a big amount of cash that is $10,000 or more means your bank or credit union will report it to the federal government.

Can I deposit 5 lakhs in my SBI savings account?

Individuals who deposit cash above Rs. 2.5 lakh and senior citizens who deposit cash above Rs. 5 lakh may be scrutinised. Any amount within the specified limit will be excluded from scrutiny considering that the money is from household savings, cash withdrawals, earlier income, and so on.

Can I deposit 3 lakh in saving account?

Since there is a system of Annual Information Return being filed by banks, your cash deposit exceeding Rs. 10 Lakhs in a Savings account / exceeding Rs. 2 lakhs is not allowed as per Section 269ST of the Income tax, which will land you in a penaly of Rs. 10 Lakhs.

What is the maximum amount one can deposit in SBI non-home branch?

Earlier, the maximum amount one could deposit in the non-home branch was Rs 25,000. The bank has now removed the limit on the amount that can be deposited in a non-home branch. SBI charges Rs 50 (plus GST) per transaction on cash deposits at non-home branches, as per official website of the bank.

What is the new rule of SBI for cash deposit?

SBI in their recent tweet stated that they have changed the cash deposit rule for the account holder of their branch. It is the good news for the account holder. The change is for the cash deposit limit in the non-home branch banks.

How much does SBI charge for 3 transactions in a month?

Beyond 3 transactions in a month, SBI charges Rs 50 plus GST for every such transaction. Maximum cash deposit limit: While there is no limit on the amount of cash deposit made in a home branch, the maximum limit for cash deposit at a non home branch is Rs 2 lakh per day.

How much can I deposit in cash at a bank in India?

And ecommerce is now commonplace, which means parcel volume is up with no signs of slowing One can deposit up to Rs 25,000 in cash at non home branches. You can use Cash Deposit Machines and Recyclers for more cash deposits, without limits if deposited multiple times.