Cash Deposit Limit in SBI Savings Account: Customers can deposit unlimited cash in the Personal Savings Account of State Bank of India (SBI). This can also be done from the non-home branch of the bank. The bank has said this while replying to a customer’s query on its Twitter handle. However a condition is applicable for depositing unlimited cash from non home branch.
SBI has said that if the PAN of the customer is linked / feed with his savings account, then he can deposit cash in his account from non-home branch without any limit. SBI had removed the maximum limit on cash deposits through a non-home branch in Savings account in the year 2018 and facilitated personal savings account holders to deposit cash as much as they want in the account through non-home branch. Huh. There is already a facility to deposit unlimited cash in savings account through home branch.
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What is home branch and non-home branch?
Home branch is the branch of a bank where you open your account. Apart from this, the other branches of the bank are called non-home branches. There are many facilities and functions that customers can take or do only in the home branch.
Limit is applicable for Agri and SME account
SBI has still retained the maximum limit for cash deposits in Agri and SME accounts. The cash deposit limit in the non-home branch is fixed at Rs 2 lakh per day for the savings account for the Agri and SME segments. However, the branch manager of non-home branch has the right to accept more cash than this limit.
