What are the cash deposit limits set by the top 5 banks? Check details here | Mint
Source: Live Mint
A Cash Deposit Machine or Automated Deposit-cum- Withdrawal Machine (ADWM) — is an ATM-like machine that enables depositors to deposit cash into their accounts using the ATM-cum-debit card.
One can use this machine to immediately credit their account without visiting the branch. The transaction receipt gives an updated account balance. Meanwhile, it is vital to realise that these machines have a set limit for different banks.
Let us look at the cash deposit limits set by different private and public sector banks:
State Bank of India (SBI): Cash deposit limits for SBI are ₹49,99 for cardless deposits and through debit cards, and ₹2 lakh if the account has been ceded with a PAN.
Bank of Baroda: The cash deposit limit with a debit card is up to ₹2,00,000 per day where PAN is registered and ₹49,999 where PAN is not registered in the account. The limit for cardless transactions (by feeding the account number) is up to ₹20,000 per day.
Punjab National Bank (PNB): The maximum amount per transaction that can be deposited by a customer through this CAA/BNA (Cash Acceptor cum ATM/ Bulk Note Acceptor) is ₹1,00,000 or a total of 200 notes. If the PAN is captured in the customer account, ₹1,00,000 can be deposited. The limit is ₹49,900 if the PAN is not captured.
HDFC Bank: In HDFC Bank, the transaction limit in a savings account is ₹25,000, and the daily limit is ₹2 lakh. At the same time, the transaction limit in a current account is ₹1 lakh, and the per-day limit is ₹6 lakh. These are cardless deposit limits, while the card-based deposit limits for each transaction are ₹1 lakh for savings as well as current accounts.
The daily limits are ₹2 lakh (savings account) and ₹6 lakh (current account).
Union Bank of India: Cash deposit machines at Union Bank of India accept a maximum of 200 currency notes with a maximum value of ₹49,999. With PAN card validation, an additional amount of up to ₹1,00,000 can be deposited per transaction. The cash deposit machine impounds any counterfeit currency and such notes are not returned to the depositor.
