Kollipara sundaraiah asked 3 years ago
Sir,
A trader cash deposits and withdrawals transactions upto date Rs:50 lacs in bank current account.if bank manager cash deposits and withdrawals transactions limit above Rs:50 lacs increased deposit limited request letter asked(submit in bank)
Question:
Trader same bank cash deposits and withdrawals increased request letter submit in bank or another bank new current account opening better.
How much cash deposit and withdrawals limit in current and sb bank account.
Rabindra answered 3 years ago
Current bank account and saving bank account are banking products and conditions and limits of these accounts may vary from bank to bank. For example:-
Deposit limit in the current account of HDFC bank:-
Combined free limit for cash deposit across all HDFC Bank Branches which will be higher of Rs.60 lacs per month or 10 times the current month AMB or 60 transactions, whichever is breached first; (subject to a maximum monthly free limit of Rs.200 Lacs.), beyond free limit charges at Rs.3 per Rs.1000; minimum of Rs.50 per transaction; But Max Cash Deposit limit at non-home branches is subject to a limit of Rs.3 Lac per day.
Withdrawal limit in current account of HDFC bank:-
Cash withdrawal is free at the home branch but in non-home branch Free cash withdrawals up to Rs.50,00,000/- per month, beyond which charges @ Rs.2 per 1000, min Rs.50/-per transaction on incremental amount; Third-party cash withdrawal allowed only up to maximum Rs. 50,000/- per transaction.
If there are more charges in less free limit in your bank, then it may be beneficial to open another current account in a separate bank where more limits are available with fewer charges.
Generally, there is no limit for deposits in a savings bank account if you have provided a PAN card and completed KYC in your bank. But you may have to bear some charges for cash deposit in non-home branch and you must be aware of income tax regulation regarding bank deposits.