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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.
What else can I help you with?
Is a savings account a time deposit?
No, a savings account is not a time deposit. A savings account typically allows for unlimited deposits and withdrawals, while a time deposit requires the funds to be held for a fixed period of time in exchange for a higher interest rate.
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
Do many banks pay interest on the money you deposit into your savings account?
Yes, many banks pay interest on the money you deposit into your savings account.
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.
What describes a time deposit?
money in a savings account
Is a savings account credited when a deposit is made?
Yes
Can you deposit a cash card in your savings account?
yes
What do the people do to deposit their saving in a bank?
To deposit their savings in a bank, people typically visit the nearest bank branch or use online banking services to transfer funds from their personal account to their savings account. They can also deposit cash or checks into their savings account through an ATM or mobile deposit.
Who is an account holder?
Anyone that has been added to a deposit account or savings accounts
