Cash Deposit Machine: A Cash Deposit Machine (CDM) or Automated Deposit cum Withdrawal Machine (ADWM) functions similarly to ATM, which allows depositors to deposit cash in their account using a debit card. You must have seen this machine installed in a bank branch or near an ATM. With this machine, you can instantly deposit cash into your account without visiting the bank. After depositing cash, you receive a transaction receipt that displays your updated account balance. Many customers often wonder how much cash they can deposit into their account at one time using the machine. Let's find out.
Let's look at the cash deposit limits set by banks
- State Bank of India (SBI): The cash deposit limit through cardless deposit is Rs 49,900 in SBI. At the same time, you can deposit Rs 2 lakh through a debit card (PAN card should be linked with the account).
- Bank of Baroda (BOB): If PAN is linked with the account, then the daily cash deposit limit through debit card is Rs 2 lakh. If PAN is not registered, then the limit is Rs 49,999. The limit for cardless transactions (by just entering the account number) is Rs 20,000 per day.
- Punjab National Bank (PNB): If PAN is linked with the account, then a maximum of Rs 1 lakh can be deposited. If PAN is not linked, then Rs 49,900 can be deposited.
- HDFC Bank: The daily cash deposit limit for the savings account is Rs 2 lakh. At the same time, for the current account, it is Rs 6 lakh. The deposit limit is the same in both cardless and cardbased.
- Union Bank of India: Here you can deposit Rs 49,999 without a PAN card. Rs 1,49,999 can be deposited with PAN.
Also Read: GST collections rise 6.5 per cent to Rs 1.73 lakh crore in September
