Transaction Limit on Saving account:

Purpose of Saving account: 

The purpose of the SA is to save the funds in the account which attract some interest rate and it will be given by the respective bank on the balance available on quarterly basis. So there will be Minimum balance requirement by most of the bank to mitigate the reserve requirement of Bank. If account holder does not follow the condition and breached any one of them, then Bank may apply service charges + TDS (mostly no bank will charge, but it is required) as and when required.

Bank also keep the cap on the followings,

·       Withdrawal and Deposits in the account,

·       Home branch,

·       Any other branch,

·       Own ATM,

·       Other ATM

·       Online Banking

Bank can associate some service charges based on these transaction, if limit is breached. Limit can be breached in the following terms,

1)      Transaction Limit for Day, Month etc.

2)      Transaction Amount for the Day, Month etc.

The transaction limit on the saving account has been capped to INR 200,000.00 by most banks in India. The transaction Limit (count) and Transaction amount (Cash) is depends on bank to bank and bank. Also note that, different methods of payments are available like NEFT, RTGS, IMPS, UPI etc. which again have different limit altogether.

Payment type transaction limit,

1)      NEFT- as low as INR 1 to max any amount

2)      RTGS- More than INR 2,00,000.00

3)      IMPS- Not more than INR 50,000.00

4)      UPI- Differ from bank to bank

Please contact the customer care of the branch and they inform on the withdrawal limit on your saving account.