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What is the limit of maximum deposit on HDFC Saving bank account

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  #1  
Old 11-06-2014
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Join Date: May 2014
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What is the limit of maximum deposit on HDFC Saving bank account
  

I want to know what is the maximum limit of deposit in a saving bank account. I want this monthly and on yearly basis. I started a small business in which around a week I get some amount. This money comes in the format of Rs.10,000 or Rs.15,000. Only once I deposited around Rs.32000. I hope this is fine. I think my works is going to expand more and in the next quarter deposit will rise. I am also using the saving account for payment.

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Old 12-06-2014
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Join Date: Jun 2009
Posts: 441
Re: What is the limit of maximum deposit on HDFC Saving bank account

Well it depends on your bank policy. As far as I know there is no limit for the deposit. When you are putting more than Rs.50000 then you have to provide your pan card details. Because your all transaction are reported to the income tax department. It is good if you can go ahead and start a current account. This account is very beneficial for you and it will allow you to have a unlimited amount of deposit and withdrawal. It will be good for your business also.
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  #3  
Old 13-06-2014
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Join Date: Nov 2009
Posts: 551
Re: What is the limit of maximum deposit on HDFC Saving bank account

Issue occur when you keep on depositing and withdrawing. That means you are doing a high transaction in a year. In my business I get money in cash. In form of Rs.5,000, Rs.10,000 or sometime Rs.20,000. Now if I put this money in the saving account then I have to provide a payment cheque against the money. And saving bank comes with low transaction. I opened up a current account which has more benefit for your business growth also.
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