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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Through ATMs the amount that can be withdrawn is usually limited to Rs. 25,000 or Rs. 50,000 per day depending on the type of account you have and the type of debit/ATM card you have.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.
What else can I help you with?
What is MOD account with State Bank of India?
AAn acoount of which even some bank managers are not clear .If you withdraw a part ,will it be breaking of your term deposit or a simply withdrawl from your account ,the remaining amount will earn the same rate of as it was fixed at the time of making MOD.
What are the types of deposits in SBI bank?
State Bank of India offers different types of accounts. They are: a. Savings Account b. Current Account c. Fixed Deposit Account d. Recurring Deposit Account e. Senior Citizen Deposit Account f. Senior Citizen Pension Account g. Etc.
What is the difference between mod and auto sweep account in state bank of India?
In the State Bank of India, a MOD (Multi Option Deposit) account combines the features of a savings account and a fixed deposit, allowing funds to earn higher interest while remaining accessible. An auto sweep account, on the other hand, automatically transfers excess funds from a savings account into a fixed deposit when the balance exceeds a certain limit, thereby optimizing interest earnings on idle funds. While both aim to enhance interest income, the MOD account offers a fixed structure, whereas the auto sweep account provides a more dynamic transfer system based on account balance.
How many digits are in an Indian overseas bank savings account number?
15 digits (the first four digits is the branch code)
Which of the following countries has the lowest household savings rate A China b India c US d UK?
India
What is the maximum limit to withdraw the amount from sbi ATM account?
40,000 INR /day for STATE BANK OF INDIA account holder.
Which bank in has the highest interest in checking and savings account?
Karnataka bank in india has highest interest in savings account. For the amount kept between 7 to 45days you get 4.5% as interest
Can you withdraw from Natwest bank account from India?
Yes
How many digits are there in the savings account of Bank of India?
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What is saving bank?
A Savings bank is the most simple and traditional form of bank account. you can deposit cash and withdraw it whenever you want. Since you can withdraw your money anytime, the interest you earn on it is very minimal. Usually banks offer 3.5% to 4% on the minimum balance maintained by you in your account.
Is it possible to transfer money from an NRE account to a savings account?
Yes, it is possible to transfer money from an NRE (Non-Resident External) account to a savings account in India. However, there may be restrictions or limitations on the amount that can be transferred and certain regulations that need to be followed. It is advisable to consult with your bank or financial institution for specific details on the process.
What are different types of bank accounts?
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
What is a rupee account?
A rupee account is a bank account denominated in Indian rupees (INR), primarily used for transactions in India. It allows individuals and businesses to deposit, withdraw, and manage funds in the local currency. Such accounts can be used for various purposes, including savings, business transactions, and remittances. Non-resident Indians (NRIs) can also open rupee accounts to facilitate easier management of their finances in India.
What is current account in bank?
A current account is an account used predominantly by businessmen. There usually a higher number of transactions that are allowed in a current account when compared to savings account and it also earns much lesser interest than a savings account. Savings accounts are much more common in India than current accounts.
What was the average savings account yield from 2008 - 2011?
The Average savings account yield would be 3.5% per year from 2008 onwards. It was the same until 2010. In 2011 the Reserve Bank increased the savings account interest rate to 4%. This makes India the country that offers the highest interest rate on savings account.
Total number of savings account holders in India?
It could be around 1 CRORE
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
