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How much cash can be deposited through CDM?

Posted on November 22, 2019 by Author

How much cash can be deposited through CDM?

The per transaction limit is Rs.49,900/- for Cardless deposit and through Debit Cards Rs. 2.00 lacs (subject to account has ceded with PAN number). You can also deposit cash in your PPF, RD and Loan accounts. Upto 200 currency notes can be deposited in a single transaction.

What are CDM charges?

CDM charge is service charges on Cash Deposit through CDMs.

Can bank keep 2 crores?

Deposit of 2 crore & above is designed especially for HNIs, Corporates, SSO, and Government Institutions, to park their surplus funds and enjoy attractive returns on their high-value deposits. This special category has a minimum deposit value of INR 2 crore.

How much cash can be deposited in ATM?

500 and Rs. 2000 denominations can be deposited in a single transaction. The maximum limit for cash deposit: in the case of a transaction without a card, the maximum limit is Rs 49,000 per day, while for cash deposit by debit card, the maximum limit is Rs 2 lakh in one day.

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Can I deposit cash in a CDM without going to the branch?

Not all branches may have the cash deposit machines and hence its better to know before you leave home to deposit cash in a CDM. Several banks are offering the service of depositing cash without even visiting the bank branch. This is possible through Cash Deposit Machine or the CDM.

What is the maximum amount I can deposit using CDM?

Maximum cash deposit limit : In case of a cardless transaction, the maximum limit is Rs 49,000 in a day, while for cash deposit using debit card, the maximum limit is Rs 2 lakh in a day. If you have a PPF account or a recurring deposit or even a loan, you can use the CDM to deposit cash into those accounts and investments.

What is the cost of making a cash deposit in India?

However, if the deposit is made into a third-party account, there is a fee of Rs 22 plus GST. Also, for any cardless transaction, the charge is Rs 22 plus GST. Maximum cash deposit limit : In case of a cardless transaction, the maximum limit is Rs 49,000 in a day, while for cash deposit using debit card, the maximum limit is Rs 2 lakh in a day.

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How much money can you deposit before it is reported?

How Much Money Can You Deposit Before it is Reported? 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.

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