How To Deposit Cash In Your Savings Account Without Going To The Bank – Know The Limits

You no longer need to visit a bank branch to deposit cash into your savings account . A Cash Deposit Machine (CDM) or an Automated Deposit-cum-Withdrawal Machine (ADWM) allows you to deposit money directly using your ATM-cum-debit card, much like an ATM transaction.

These machines offer instant credit to your account, with the transaction receipt reflecting your updated balance. However, it is important to note that each bank has specific cash deposit limits , which vary depending on factors like whether your PAN is linked to the account.

Here’s a breakdown of cash deposit limits at some major banks:

State Bank of India (SBI):

• For cardless deposits or deposits via debit cards, the limit is ₹49,999.
• If the account is linked with a PAN, the limit increases to ₹2 lakh.

Bank of Baroda:

• With a registered PAN, you can deposit up to ₹2,00,000 per day using your debit card.
• For accounts without a PAN, the limit is ₹49,999.

Cardless deposits, where you enter the account number, are capped at ₹20,000 per day.

Punjab National Bank (PNB):

• A maximum of ₹1,00,000 or 200 notes can be deposited per transaction.
• If the PAN is registered, the limit remains ₹1,00,000.
• Without PAN, the limit is ₹49,900.

HDFC Bank :

• For savings accounts, the per-transaction limit is ₹25,000, while the daily limit is ₹2 lakh.

For current accounts, the transaction limit is ₹1 lakh, and the daily cap is ₹6 lakh.

These limits apply to cardless deposits, while card-based transactions are capped at ₹1 lakh per transaction for both savings and current accounts.

Union Bank of India:

• The cash deposit machines accept a maximum of 200 notes, totaling up to ₹49,999.
• With PAN validation, you can deposit up to ₹1,00,000 per transaction.

Any counterfeit currency detected by the machine is retained and not returned to the depositor.

By using these machines, you can conveniently deposit cash without visiting a branch, but be sure to stay within the set limits for a smooth transaction.