How much cash can be deposited in SBI Non Home branch?

Asked by: Randy Grimes  |  Last update: February 9, 2022
Score: 4.2/5 (45 votes)

Rs 2 lakh per day is the maximum limit for the deposit of cash at the SBI non-home branch. Non-home branches do not issue duplicate fixed deposit receipts in case you have an account with the SBI.

How much can I deposit in SBI Non Home branch?

You can withdraw up to Rs 50,000 per day from a non-home branch, the limit is capped at Rs 1 lakh for current account holders by SBI. The maximum amount of funds that can be deposited at an SBI non-home branch in a single day is Rs 2 lakh.

Can I deposit money other than home branch?

So, basically, a home branch is a branch where the customer's account is maintained. And the banking facilities available to customers at branches other than the home branch are called non-home branches. If any cash transaction, such as deposit or withdrawal, is done at a non-home branch, a fee is levied.

How much money we can deposit in non home branch?

The maximum limit for deposit of cash at Non-Home branch is Rs 2 lakh per day. Thereafter, Branch Manager of Non-home branch is vested with the powers to accept more cash.

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.

SBI Revised rule of Cash deposit in non home branch : Finance News

45 related questions found

Can I get a new passbook from Non-Home branch SBI?

But, we can apply for the New Bank Passbook in SBI through an offline method by visiting any nearest State Bank of India Bank. ... Visit any nearest State Bank of India Bank branch. Write a letter to the branch manager related to the SBI Bank Passbook lost or damaged. After that, ask them to provide a new one.

Can we withdraw cash from non-home branch?

And the banking facilities available to customers at branches other than the home branch are called the non-home branch. ... Cash withdrawal for self (using a withdrawal form) along with a Savings Bank passbook has been increased to Rs 25,000 per day.

Can we deposit money in other SBI branch?

SBI has done away with the limit on the amount that can be deposited in a non-home branch. ... Now, the upper cap for depositing cash at a non-home branch has been updated," the bank said. A home branch is the branch where a customer has a bank account. All other branches of the bank are non-home branches for the customer.

Can we deposit more than 50000 in bank?

50,000 and above only by debit to customers' accounts or against cheques and not against cash (Circular DBOD.

Can I deposit 5 lakhs in my SBI 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.

How much money can be deposited in a savings account in India?

1] Savings/Current account: For an individual, the cash deposit limit in savings account is ₹1 lakh. If a savings account holder deposits more than ₹1 lakh in one's savings account, then the income tax department may send income tax notice.

How much cash can be withdrawn from SBI?

1] State Bank of India or SBI: SBI customers can now withdraw ₹25,000 cash per day from non-home branches for self using withdrawal form accompanied by savings account passbook.

Can I withdraw money from non-home branch without passbook?

Yes, banks have imposed a limit on withdrawal from non-home branch. For instance, if you have a savings account with State Bank of India, you can withdraw up to Rs 50,000 a day at a non-home branch, using the withdrawal form accompanied with the passbook.

Can we deposit cheque SBI Non-Home branch?

Answer – Yes, you can deposit cheque in any branch of SBI in India.

Can I do RTGS from non-home branch of SBI?

No. RTGS and NEFT services are enabled only in specific bank branches across the country.

What is cash handling charges in SBI?

The new charge is ₹15 plus GST per cash withdrawal transaction at Branch Channel/ATM. Cash withdrawal at SBI ATMs. As per the SBI's website, there will be four free cash withdrawals available — including ATMs and bank branches every month for BSBD account holders.

Is it OK to deposit large amounts of cash?

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. The $10,000 threshold was created as part of the Bank Secrecy Act, passed by Congress in 1970, and adjusted with the Patriot Act in 2002.

How much money can I deposit at once?

The Law Behind Bank Deposits Over $10,000

It's called the Bank Secrecy Act (aka. The $10,000 Rule), and while that might seem like a big secret to you right now, it's important to know about this law if you're looking to make a large bank deposit over five figures.

Can I deposit 4 lakh cash in my account?

Cash deposits in bank accounts: CBDT has made it mandatory for a bank or a cooperative bank to report cash deposits aggregating to Rs 10 lakh or more during a financial year, in one or more accounts (other than a current account and time deposit) of a person.

Can I withdraw 5 lakhs cash in a single day from an account?

If a bank account holder is ready to give the satisfactory answer, RS 5 lakhs or even more can be withdrawn from his account.

Can we withdraw 20 lakh cash from bank?

To discourage cash payments, the Union Budget 2019 has introduced Section 194N for tax deduction at source (TDS) on cash withdrawals exceeding Rs 1 crore. The Budget 2020 has reduced the threshold limit for TDS to Rs 20 lakh for taxpayers who have not filed their income tax returns for past three years.

Can I withdraw 2 lakhs from bank?

Section 269ST of the Income Tax Act provides that no person can receive an amount of INR 2 Lakhs or more in cash: In aggregate from a person in a day; In respect of a single transaction; or. In respect of transactions relating to one event or occasion from a person.

Can I deposit 50 lakhs in my savings account?

Deposits in Current Accounts : Cash deposits or withdrawals aggregating to Rs 50 lakh or more in a financial year in one or more Current Account of a person will have to be reported by the bank to the I-T authorities. ... (ii) Rs 2.5 Lakh or more, in one or more accounts (other than a current account) of a person.

How much cash deposit is suspicious?

Under the Bank Secrecy Act, banks and other financial institutions must report cash deposits greater than $10,000. But since many criminals are aware of that requirement, banks also are supposed to report any suspicious transactions, including deposit patterns below $10,000.