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In India, if you deposit any amount more than Rs. 50,000/- you need to submit your PAN card number, If you deposit more than Rs. 10,00,000/- you need to show the source of income of the money.
These details will be shared with the Income Tax department.
As of maximum amount - It is any amount. No bank would restrict you on the amount as long as you provide them the necessary info as mentioned above.
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∙ 14y ago
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Is a savings account a time deposit?
no
How much the initial deposit to open a savings account at bpi family savings account?
1000
Why is investec commercial bank a deposit taking intermediary?
It have a variety of deposit account, such as check account, savings and time deposit
What is the minimum deposit to open a savings account with SunTrust?
The minimum deposit required in order to open a savings account with Sun Trust in one hundred dollars and with this you can start your own savings account with Sun Trust.
What is the purpose of a business deposit account?
Business deposit accounts are also known as business savings account where one can deposit an amount of money as savings for one's business. Most savings accounts will also offer interest rates.
Which of these describes a time deposit?
Money in a savings account is an example of a time deposit.
Can you deposit a cash card in your savings account?
yes
Is a savings account credited when a deposit is made?
Yes
What describes a time deposit?
money in a savings account
What is the difference between a normal savings account and nre account?
In normal savings account, you deposit Indian money (rupee) and you can withdraw it in the same indian money. In nre account you can only deposit foreign currency and you withdraw indian currency. you cant deposit indian money in this account
Who is an account holder?
Anyone that has been added to a deposit account or savings accounts
What is the name of the special savings account that requires the bank and the customer to agree on the savings amount and the time that it will be on deposit?
I believe you are thinking of a certificate of deposit.
