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Actually No. You can withdraw any amount, as long as you have that much balance in your bank account. Banks usually dont ask any questions when you withdraw cash from your own savings account. However, if you are trying to withdraw a large sum, lets say 25 lakhs, banks may require a days notice to arrange the cash. They cannot refuse the request, but they can ask you to comeback after sometime so that they can arrange for that much money. Most small bank branches dont stock-up that much money
What else can I help you with?
What is the check limit for this account?
The check limit for this account is the maximum amount of money that can be withdrawn using checks.
Is there a age limit to opening a savings account?
No. There is no age limit. Anybody who is above 18 yrs of age can open an account.
Why is there a limit on savings account transactions?
Banks impose limits on savings account transactions to ensure the stability of the financial system and to prevent misuse of the account for frequent or excessive withdrawals.
What is the maximum amount of cash that can be withdrawn from an ATM at a time?
It depends on the limit placed on your debit card.
How is a certificate of deposite different from a regular savings account?
Savings Account: A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account. Certificate of Deposit: A CD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a CD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
What is a characteristic of the coverdell education savings account?
there is a maximum yearly contribution limit.
What is the limit that you can withdraw at one time from your bank account?
there is no limit on the amount you can withdraw from your account as long as that sum is there
How much money is allowed in one savings account?
I don't believe that there is a maximum limit. However, in the United States, there is a maximum amount that is insured by the FDIC, to pay you back in case the bank fails. The limit is often revised, but is currently (a of March 8, 2014) $250,000 per account owner.
What is the difference between a savings account and a fixed deposit account?
A Fixed Deposit Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account
What is the difference between a savings account and a fixing deposit account?
A Fixed Deposit Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit A savings account is one in which customers save their monthly savings and they are not like the current account. Though the money is available at any time for the customer to withdraw, money is not as frequently deposited/withdrawn from it like the current account. Hence banks offer a meager interest rate for the money held in this account
How much amount can be withdraw from a savings account per day in state bank of India?
Through ATMs the amount that can be withdrawn is usually limited to Rs. 25,000 or Rs. 50,000 per day depending on the type of account you have and the type of debit/ATM card you have. But, if you are going to visit the bank branch for withdrawal, then technically there is no limit. You can withdraw as much money as you have in your bank account. For larger amounts like 50 lakhs or 1 crore, you may have to give the bank at least one day notice so that they can arrange the funds because most bank branches do not keep that much money in their vaults.
Patricia a standard card holder uses her card for the first time and makes a 500 cash withdrawal How much of her credit limit remains?
This question does not supply enough information to be fully answered. It would depend on her contract and card limit. If her card limit was $1,000, her remaining limit would be $500. If her card limit was $700, her remaining limit would be $200. You would take whatever her total limit is, and subtract the amount she has withdrawn or used. If this were a debit card instead of a credit card, it would be however much she had deposited, minus the amount she has used or withdrawn. Some debit accounts require a minimum balance be kept in the account at all times.
