{"id":18973,"date":"2025-04-02T13:36:24","date_gmt":"2025-04-02T08:06:24","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=18973"},"modified":"2025-04-02T13:36:26","modified_gmt":"2025-04-02T08:06:26","slug":"how-much-cash-can-be-deposited-in-a-bank","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/","title":{"rendered":"How Much Cash Can Be Deposited in a Bank?"},"content":{"rendered":"\n<p>As an Indian student, understanding how much cash can be deposited in a bank is crucial for managing your finances effectively. The Reserve Bank of India (RBI) and the Income Tax Department regulate cash deposits to ensure financial transparency and prevent illegal activities.<\/p>\n\n\n\n<p>This guide provides accurate details on how much cash can be deposited in a bank, easy-to-understand information on deposit limits, and explains the key rules and limits surrounding cash deposits in India.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-are-the-cash-deposit-limits-in-a-bank\" data-level=\"2\">What are the Cash Deposit Limits in a Bank?<\/a><\/li><li><a href=\"#h-how-much-cash-can-be-deposited-in-a-bank-for-savings-accounts\" data-level=\"2\">How Much Cash Can Be Deposited in a Bank for Savings Accounts?<\/a><ul><li><a href=\"#h-consequences-of-exceeding-deposit-limits-in-a-bank\" data-level=\"3\">Consequences of Exceeding Deposit Limits in a Bank<\/a><\/li><\/ul><\/li><li><a href=\"#h-how-much-cash-can-be-deposited-in-a-bank-for-current-accounts\" data-level=\"2\">How Much Cash Can Be Deposited in a Bank for Current Accounts?<\/a><\/li><li><a href=\"#h-how-much-cash-can-be-deposited-in-a-bank-for-nro-and-nri-accounts\" data-level=\"2\">How Much Cash Can Be Deposited in a Bank for NRO and NRI Accounts?<\/a><ul><li><a href=\"#h-nro-non-resident-ordinary-account-deposit-limit\" data-level=\"3\">NRO (Non-Resident Ordinary) Account Deposit Limit<\/a><\/li><li><a href=\"#h-nre-non-resident-external-account-deposit-limit\" data-level=\"3\">NRE (Non-Resident External) Account Deposit Limit<\/a><\/li><\/ul><\/li><li><a href=\"#h-cash-depositing-regulations-in-a-bank\" data-level=\"2\">Cash Depositing Regulations in a Bank<\/a><\/li><li><a href=\"#h-tips-for-depositing-cash-in-a-bank-safely\" data-level=\"2\">Tips for Depositing Cash in a Bank Safely<\/a><\/li><li><a href=\"#h-faqs-on-how-much-cash-can-be-deposited-in-a-bank\" data-level=\"2\">FAQs on How Much Cash Can Be Deposited in a Bank?<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-cash-deposit-limits-in-a-bank\"><span id=\"what-are-the-cash-deposit-limits-in-a-bank\">What are the Cash Deposit Limits in a Bank?<\/span><\/h2>\n\n\n\n<p>Cash deposit limits are enforced to maintain financial integrity. The government monitors transactions to curb tax evasion and money laundering. Customers benefit from knowing these regulations to avoid complications.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Purpose: <\/strong>Prevent illegal financial activities.<\/li>\n\n\n\n<li><strong>Relevance:<\/strong> Ensures compliance even for small transactions.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-much-cash-can-be-deposited-in-a-bank-for-savings-accounts\"><span id=\"how-much-cash-can-be-deposited-in-a-bank-for-savings-accounts\">How Much Cash Can Be Deposited in a Bank for Savings Accounts?<\/span><\/h2>\n\n\n\n<p>So, how much cash can be deposited in a bank a day? Savings accounts have specific cash deposit thresholds just like the savings account cash withdrawal limit. Exceeding these requires documentation or trigger reporting. Below are the limits for daily and yearly deposits.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Daily Limit:<\/strong> INR 1 lakh (up to INR 2.5 lakh at some banks).<\/li>\n\n\n\n<li><strong>PAN Requirement:<\/strong> Deposits above INR 50,000 need a PAN card or Form 60\/61.<\/li>\n\n\n\n<li><strong>Yearly Limit:<\/strong> INR 10 lakh per financial year (April to March).<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-consequences-of-exceeding-deposit-limits-in-a-bank\"><span id=\"consequences-of-exceeding-deposit-limits-in-a-bank\">Consequences of Exceeding Deposit Limits in a Bank<\/span><\/h3>\n\n\n\n<p>Depositing beyond the specified limits initiates oversight. Banks report high-value transactions to tax authorities. Proof of funds is critical to avoid penalties.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Reporting:<\/strong> Deposits exceeding INR 10 lakh annually are flagged via Annual Information Return (AIR).<\/li>\n\n\n\n<li><strong>Penalties: <\/strong>Unexplained funds may incur up to 60% tax, plus 25% surcharge and 4% cess.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: <\/strong><a href=\"https:\/\/fly.finance\/blog\/student-account\/what-do-you-need-to-open-a-bank-account\/\"><strong>What do You Need to Open a Bank Account? The Complete Guide!<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-much-cash-can-be-deposited-in-a-bank-for-current-accounts\"><span id=\"how-much-cash-can-be-deposited-in-a-bank-for-current-accounts\">How Much Cash Can Be Deposited in a Bank for Current Accounts?<\/span><\/h2>\n\n\n\n<p>When it comes to depositing cash in a bank with a current account, there are varying limits depending on the bank and the type of account. Businesses often use current accounts for daily transactions, and these accounts come with higher limits than savings accounts to facilitate smooth operations.<\/p>\n\n\n\n<p>Here\u2019s a breakdown of how much cash can be deposited in a bank:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>No Fixed Cap:<\/strong> Unlike savings accounts, there is no specific limit on cash deposits in current accounts. The limit varies across different banks.<br><\/li>\n\n\n\n<li><strong>Limits Based on Account Type:<\/strong> For example, in State Bank of India (SBI), cash deposit limits in current accounts range from INR 5 lakh to INR 2 crore per month, depending on the account type and the business&#8217;s requirements.<br><\/li>\n\n\n\n<li><strong>Large Deposits:<\/strong> Deposits exceeding INR 50 lakh in a current account may attract scrutiny from the Income Tax (IT) department. While these deposits won&#8217;t immediately be flagged, they will be monitored for the source of funds.<br><\/li>\n\n\n\n<li><strong>Bank-Specific Rules: <\/strong>Different banks have different cash deposit rules and limits, so it&#8217;s important to check with your bank for the exact details.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-much-cash-can-be-deposited-in-a-bank-for-nro-and-nri-accounts\"><span id=\"how-much-cash-can-be-deposited-in-a-bank-for-nro-and-nri-accounts\">How Much Cash Can Be Deposited in a Bank for NRO and NRI Accounts?<\/span><\/h2>\n\n\n\n<p>There are no specific restrictions on cash deposits in Non-Resident Ordinary (NRO) or Non-Resident External (NRE) accounts. However, repatriation rules and tax implications vary for each account type.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-nro-non-resident-ordinary-account-deposit-limit\"><span id=\"nro-non-resident-ordinary-account-deposit-limit\">NRO (Non-Resident Ordinary) Account Deposit Limit<\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>No Deposit Limit: <\/strong>There is no upper limit on the amount that can be deposited in an NRO account.<\/li>\n\n\n\n<li><strong>Repatriation Restrictions:<\/strong> NRIs and Persons of Indian Origin (PIOs) can remit up to USD 1 million per financial year (April- March) from an NRO account, including proceeds from the sale of immovable property.<\/li>\n\n\n\n<li><strong>Taxation: <\/strong>Interest earned on an NRO account is taxable in India.<\/li>\n\n\n\n<li><strong>Purpose:<\/strong> This account is primarily used to manage income earned in India, such as rent, dividends, pension, or any other Indian-source earnings.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-nre-non-resident-external-account-deposit-limit\"><span id=\"nre-non-resident-external-account-deposit-limit\">NRE (Non-Resident External) Account Deposit Limit<\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>No Deposit Limit: <\/strong>There is no cap on the amount that can be held in an NRE account.<\/li>\n\n\n\n<li><strong>Foreign Currency Deposits Only: <\/strong>Funds can only be deposited in foreign currency, which is converted into INR upon deposit.<\/li>\n\n\n\n<li><strong>Repatriation Benefits: <\/strong>NRE account funds are fully repatriable, meaning there are no restrictions on transferring money abroad.<\/li>\n\n\n\n<li><strong>Tax-Free Earnings: <\/strong>Interest earned on an NRE account is completely tax-free in India.<\/li>\n\n\n\n<li><strong>Purpose: <\/strong>NRE accounts are designed to help NRIs hold and invest their foreign earnings in India while ensuring easy transferability of funds.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-cash-depositing-regulations-in-a-bank\"><span id=\"cash-depositing-regulations-in-a-bank\">Cash Depositing Regulations in a Bank<\/span><\/h2>\n\n\n\n<p>Additional legal provisions govern cash handling. Compliance with these rules prevents penalties. Account holders must note these restrictions.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Section 269ST: <\/strong>INR 2 lakh+ from one person in a day or single event is prohibited; penalty equals the amount.<\/li>\n\n\n\n<li><strong>Withdrawals: <\/strong>INR 20 lakh+ withdrawn annually from savings incurs TDS under Section 194N.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: <\/strong><a href=\"https:\/\/fly.finance\/blog\/student-account\/how-to-open-a-business-bank-account\/\"><strong>How to Open a Business Bank Account?<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tips-for-depositing-cash-in-a-bank-safely\"><span id=\"tips-for-depositing-cash-in-a-bank-safely\">Tips for Depositing Cash in a Bank Safely<\/span><\/h2>\n\n\n\n<p>Adhering to deposit limits requires proactive steps. Documentation and digital alternatives enhance efficiency. Follow these practices for smooth banking.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Retain Proof:<\/strong> Document cash sources (e.g., gift receipts).<\/li>\n\n\n\n<li><strong>Use Digital Methods:<\/strong> Opt for UPI or cheques for large sums.<\/li>\n\n\n\n<li><strong>Verify Bank Policies: <\/strong>HDFC permits INR 2 lakh daily via machines; SBI limits cardless deposits to INR 49,999.<\/li>\n<\/ul>\n\n\n\n<p>Understanding how much cash can be deposited in a bank in India is crucial for managing your finances responsibly. Here\u2019s a quick summary of the key points:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cash deposits up to INR 2.5 lakh in a financial year are not subject to scrutiny.<\/li>\n\n\n\n<li>Deposits above INR 2.5 lakh require additional documentation regarding the source of the funds.<\/li>\n\n\n\n<li>PAN is mandatory for transactions over INR 50,000.<\/li>\n\n\n\n<li>Banks report cash deposits exceeding INR 10 lakh in a year to the Income Tax Department.<\/li>\n\n\n\n<li>NRIs have specific guidelines for depositing cash in their accounts.<\/li>\n<\/ul>\n\n\n\n<p>By keeping these rules in mind and following the proper procedures, you can ensure your cash deposits are seamless and free from complications. Always check with your bank for any specific policies regarding cash deposits, especially if you plan to deposit larger amounts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-on-how-much-cash-can-be-deposited-in-a-bank\"><span id=\"faqs-on-how-much-cash-can-be-deposited-in-a-bank\">FAQs on How Much Cash Can Be Deposited in a Bank?<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1743580986695\"><strong class=\"schema-faq-question\">How much cash can be deposited in a bank daily in a savings account?<\/strong> <p class=\"schema-faq-answer\">The daily cash deposit limit in a bank for savings accounts is typically INR 1 lakh, though some banks may allow up to INR 2.5 lakh. Exceeding this may require additional documentation.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743580987819\"><strong class=\"schema-faq-question\">How much cash can be deposited in a bank annually without reporting?<\/strong> <p class=\"schema-faq-answer\">Deposits up to INR 10 lakh in a financial year (April to March) in a savings account are not reported. Beyond this, banks notify the Income Tax Department.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743580988193\"><strong class=\"schema-faq-question\">Why does the government set cash deposit limits?<\/strong> <p class=\"schema-faq-answer\">Limits help prevent illegal activities like tax evasion and money laundering, ensuring financial transparency across all transactions.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743580988575\"><strong class=\"schema-faq-question\">What happens if I deposit more than INR 10 lakh in a year?<\/strong> <p class=\"schema-faq-answer\">Banks report deposits exceeding INR 10 lakh annually via an Annual Information Return (AIR). Unexplained funds may incur a tax of up to 60%, plus additional charges.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743580989052\"><strong class=\"schema-faq-question\">How much cash can be deposited in a bank current account?<\/strong> <p class=\"schema-faq-answer\">Current accounts have no fixed cap, but limits vary by bank. For example, SBI allows INR 5 lakh to INR 2 crore monthly, though deposits over INR 50 lakh may face scrutiny.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743581034629\"><strong class=\"schema-faq-question\">Do I need a PAN card for all cash deposits?<\/strong> <p class=\"schema-faq-answer\">No, a PAN is mandatory only for deposits above INR 50,000 in a single transaction. For smaller amounts, no documentation is required.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743581034957\"><strong class=\"schema-faq-question\">What is Section 269ST, and how does it affect cash deposits?<\/strong> <p class=\"schema-faq-answer\">Section 269ST prohibits receiving or depositing INR 2 lakh or more in cash from one person in a day or for a single event. Violators face a penalty equal to the amount.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743581035330\"><strong class=\"schema-faq-question\">Are there penalties for withdrawing cash from a savings account?<\/strong> <p class=\"schema-faq-answer\">Withdrawals exceeding INR 20 lakh annually from a savings account trigger Tax Deducted at Source (TDS) under Section 194N, based on your tax filing status.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1743581036021\"><strong class=\"schema-faq-question\">How can students ensure safe cash deposits in a bank?<\/strong> <p class=\"schema-faq-answer\">Retain proof of cash sources (e.g., gift receipts), use digital payments like UPI for large sums, and confirm bank-specific rules, such as HDFC\u2019s INR 2 lakh daily machine limit.<\/p> <\/div> <\/div>\n\n\n\n<p>To learn more about<strong> <\/strong><a href=\"https:\/\/fly.finance\/international-bank-account\"><strong>bank accounts for students<\/strong><\/a>, the best<strong> <\/strong><a href=\"https:\/\/fly.finance\/loans\"><strong>education loans<\/strong><\/a><strong>, <\/strong><a href=\"https:\/\/fly.finance\/forex\"><strong>forex,<\/strong><\/a> banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background has-fixed-layout\"><tbody><tr><td colspan=\"2\"><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/inflation-and-its-effects-on-education-loans\/\"><strong>Inflation and its Affect on Education Loan<\/strong><\/a><\/td><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/tax-exemption-from-an-education-loan\/\"><strong>Tax Exemption from Education Loan<\/strong><\/a><\/td><\/tr><tr><td><a 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finances effectively. The Reserve Bank of India (RBI) and the Income Tax Department regulate cash deposits to ensure financial transparency and prevent illegal activities. This guide provides accurate details on how much cash can be deposited &#8230; <a title=\"How Much Cash Can Be Deposited in a Bank?\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/\" aria-label=\"Read more about How Much Cash Can Be Deposited in a Bank?\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":18974,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[],"class_list":["post-18973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-student-account"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How Much Cash Can Be Deposited in a Bank?<\/title>\n<meta name=\"description\" content=\"How Much Cash Can Be Deposited in Bank\u200b: Wondering how much cash can be deposited in a bank in India? 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This guide covers the daily, yearly limits, PAN requirements, and the consequences of exceeding them.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/","og_locale":"en_US","og_type":"article","og_title":"How Much Cash Can Be Deposited in a Bank?","og_description":"How Much Cash Can Be Deposited in Bank\u200b: Wondering how much cash can be deposited in a bank in India? 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I have had the privilege of collaborating with various esteemed organizations, consistently contributing to the advancement of learning. I am committed to continuously enhancing my knowledge and sharing insights on topics within my areas of expertise.","url":"https:\/\/fly.finance\/blog\/author\/kapil\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580986695","position":1,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580986695","name":"How much cash can be deposited in a bank daily in a savings account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The daily cash deposit limit in a bank for savings accounts is typically INR 1 lakh, though some banks may allow up to INR 2.5 lakh. Exceeding this may require additional documentation.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580987819","position":2,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580987819","name":"How much cash can be deposited in a bank annually without reporting?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Deposits up to INR 10 lakh in a financial year (April to March) in a savings account are not reported. Beyond this, banks notify the Income Tax Department.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580988193","position":3,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580988193","name":"Why does the government set cash deposit limits?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Limits help prevent illegal activities like tax evasion and money laundering, ensuring financial transparency across all transactions.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580988575","position":4,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580988575","name":"What happens if I deposit more than INR 10 lakh in a year?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Banks report deposits exceeding INR 10 lakh annually via an Annual Information Return (AIR). Unexplained funds may incur a tax of up to 60%, plus additional charges.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580989052","position":5,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743580989052","name":"How much cash can be deposited in a bank current account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Current accounts have no fixed cap, but limits vary by bank. For example, SBI allows INR 5 lakh to INR 2 crore monthly, though deposits over INR 50 lakh may face scrutiny.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581034629","position":6,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581034629","name":"Do I need a PAN card for all cash deposits?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"No, a PAN is mandatory only for deposits above INR 50,000 in a single transaction. For smaller amounts, no documentation is required.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581034957","position":7,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581034957","name":"What is Section 269ST, and how does it affect cash deposits?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Section 269ST prohibits receiving or depositing INR 2 lakh or more in cash from one person in a day or for a single event. Violators face a penalty equal to the amount.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581035330","position":8,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581035330","name":"Are there penalties for withdrawing cash from a savings account?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Withdrawals exceeding INR 20 lakh annually from a savings account trigger Tax Deducted at Source (TDS) under Section 194N, based on your tax filing status.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581036021","position":9,"url":"https:\/\/fly.finance\/blog\/student-account\/how-much-cash-can-be-deposited-in-a-bank\/#faq-question-1743581036021","name":"How can students ensure safe cash deposits in a bank?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Retain proof of cash sources (e.g., gift receipts), use digital payments like UPI for large sums, and confirm bank-specific rules, such as HDFC\u2019s INR 2 lakh daily machine limit.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/18973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=18973"}],"version-history":[{"count":1,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/18973\/revisions"}],"predecessor-version":[{"id":18975,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/18973\/revisions\/18975"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/18974"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=18973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=18973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=18973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}