How much money can be transferred in a savings account?

2. What is the maximum amount that I can transfer from my savings account? Savings account customers can send up to Rs. 10 lakhs in a day.

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

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.

How can I transfer more than 10 lakhs?

Through Internet banking — (if you have created a beneficiary earlier and the thrd party limit is set >9 lakhs,)then you could do the same through internet banking (onlinesbi, or through YONO app). NEFT: Maximum transfer per day is Rs. 10 lakhs – RTGS – Minimum Rs.

What if I deposit 10 lakh in my account?

Thus, as cash deposits and withdrawals of Rs 10 lakh or more in a bank account in a financial year are required to be reported to the tax authorities, you need to be careful if you are exceeding the prescribed threshold. This limit is Rs 50 lakh and more in case of current accounts.

How much interest can I earn on 10 lakhs in savings account?

So, if you deposit 10 lakhs in your saving account, you will earn 35,000 as interest with 3.5\% rate of interest. And, you will have to pay tax on Rs. 25,000 if your total annual income exceeds 2.5 lakh. Harness digital marketing analytics tools.

How many accounts in India have received Rs 2 lakhs each?

Moreover, there are nearly 60 lakh accounts that have received more than Rs 2 lakh each between November 9, 2016 and December 30, 2016. Out of these, almost 6.8 lakh accounts were already marked as suspicious in the database maintained by various Government agencies, as reported by The Hindu dated January 10, 2017.

What is the maximum amount I can transfer using Paytm Payments Bank?

Transfers up to Rs 10 lakhs to accounts in Paytm Payments Bank are instant and available 24X7 including Sundays and bank holidays Transfers up to Rs 2 lakhs to Other Bank Accounts are done through IMPS (Immediate Payment Service) which is real-time and available 24×7 including Sundays and bank holidays

What is the maximum amount I can transfer using Neft?

NEFT: Maximum transfer per day is Rs.10 lakhs – RTGS – Minimum Rs.2 lakhs Max. Rs.10 lakhs- Third party beneficiary registration is compulsory.