Question: How Much We Can Deposit In Axis Bank?

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..

What is the minimum amount to deposit in bank?

SBI customers whose minimum average balance is up to Rs 10,000, they can make upto Rs 25,000 cash deposit per day free of any charges. If the limit is more than Rs 25,000, then you will paying Rs 0.75 on per Rs 1000 you deposit plus GST.

Can I deposit 3 lakh in saving account?

Since there is a system of Annual Information Return being filed by banks, your cash deposit exceeding Rs. 10 Lakhs in a Savings account / exceeding Rs. … 2 lakhs is not allowed as per Section 269ST of the Income tax, which will land you in a penaly of Rs. 10 Lakhs.

Can I deposit 50000 cash in bank?

The government has changed the tax rules relating to cash deposits in banks. … Last week, the government announced a new rule to prevent people from depositing large amounts of cash in their bank without mentioning the PAN. Till then, you could deposit up to Rs 50,000 in cash per transaction without giving the PAN.

Which bank is better Axis or HDFC?

Both Axis Bank and HDFC Limited follow the same formula when it comes to ascertaining the loan amount. But, in terms of interest rates, HDFC is a better option as its highest rate is 8%. Whereas, Axis Bank Home Loan Interest rates are can go upto 8.55%.

Can we deposit 1 crore bank?

If FD interest rate is 6%, then you get Rs 6 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 50,000. If FD interest rate is 6.5%, then you get Rs 6.5 lakh on a fixed deposit of Rs 1 crore in a year. This means you get a monthly interest of Rs 54,167.

Can a bank ask where you got money?

There is no law that specifically requires a bank to ask where you get your cash. They are probably just following Governmental and company guidelines on money laundering and have been told to ask that question on deposits of cash over a certain amount. Either that or the teller is just a nosy sod.

Is there any charges for cash deposit in Axis Bank?

1- Fees on cash deposits and withdrawals above limits is INR 5/1000 or INR 150, whichever is higher. … Above monthly transaction count limit of 30 transactions (Financial + Non-Financial) on Axis Bank or other bank ATMs, a fees of flat INR. 20 per transaction would be charged.

How much cash I can deposit in my account?

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.

Is it safe to deposit in Axis Bank?

Axis Bank’s Fixed Deposit (FD) is a safe and convenient way to see your savings grow. Open a Fixed Deposit online with Axis Bank and save a minimum of Rs. 5,000 for a flexible tenure starting from a minimum of 7 days to a maximum of 10 years.

Is Axis Bank a Nationalised bank?

The bank’s net sales were recorded at Rs 9,427.91 crores during March 2017. The bank was nationalized during 1969 by the government of India. The bank has regional offices and branches which are spread across the country.

Is online FD safe?

Safest Personal Investment: Though the returns or rates of interest that you are paid are not very high, it is safe against other options such as Gold or company equities. Banks offer enough security of your money if they institution is old and has a high credit rating.