What is the maximum balance in Indian bank?

What is the limit of Indian bank savings account?

Indian Bank Savings Account

Indian Bank Savings Account Details
Interest Rate The rate of interest is irrespective of the balance
Interest Calculation On daily basis
Interest Credited On quarterly basis. It is credited every year in the month of: June September December March
Minimum Account Balance For non-cheque Acc: Rs. 250

What is the maximum amount you can keep in a bank account?

This limit is Rs 50 lakh and more in case of current accounts. However, apart from cash transactions, there are some other transactions also which you need to be aware of.

What is minimum balance limit in Indian bank?

Overview of Indian Bank Savings Bank

Bank Indian Bank
Initial Deposit Requirements Nil
Minimum Amount Minimum amount for non-cheque operation is Rs.250/- Minimum balance for cheque operation is Rs.500/- Pensioners and bonafide students may have lesser minimum balance
Debit Card Offered Free ATM cards/Debit cards provided
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What is the minimum balance in Indian Bank 2021?

List of All Banks Savings Account Interest Rates and Minimum Balance 2021

List of Savings Account Banks Minimum Balance Required(INR) Savings Account Interest Rates (p.a.)
IDFC Bank 25000 6.00% – 7.00%
Indian Bank 250/500/1000 3.00%
Indian Overseas Bank 500-1000 3.25% – 3.50%
IndusInd Bank 0/10000/25000/2500000 4.00% – 6.00%

What is the limit of transaction in saving account?

The amount of money that can be debited from the current account is limited to Rs. 1,00,000 per week whereas an overall of Rs. 24,000 can be drawn per week from the savings account. ATM withdrawals allow Rs.

Does Indian bank charges for minimum balance?

The minimum balance requirement to open a savings account with Indian Bank is Rs. 250 for non cheque operation and Rs. 500 for cheque operation. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.

Can I deposit 20 lakhs in bank?

your father must have to give explanation to the income tax department for depositing Rs. 20,00,000 to a savings bank account within a short period when asked for. Tax will be deposited by your father within 15th March, 2020 (if payable).

Can we deposit 1 crore bank?

1 Crore Fixed Deposit in India can be a decent source of income in India.

1 Crore FD Interest Rates Per Annum: Top 10 Banks in India.

Name of Bank For General Citizens (p.a.) For Senior Citizens (p.a)
Bank of India FD 2.85% to 5.05% 3.35% to 5.55%
Punjab and Sind Bank FD 3.00% to 5.30% 3.50% to 5.60%
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Can I deposit 50 lakhs in my 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.

What is the average monthly balance in Indian bank?

Minimum balance to be maintained:

500 for non cheque book accounts. For cheque book operated accounts, the minimum monthly average balance shall be Rs. 1000. Savings Accounts are also opened for Pensioners and Bonafide students with lesser minimum balance.

What is bank minimum balance?

The minimum balance for a bank account is the minimum dollar amount that must be maintained to receive certain benefits or to keep the account open. … Minimum balances can be enforced by charging fees, denying interest payments, or closing the account if the minimum balance is not maintained.

Why can I only withdraw 6 times from savings?

Regulation D is a federal law that keeps consumers from making more than six withdrawals or transfers per month from a savings account or money market account. The rule is in place to help banks maintain reserve requirements.