Let me solve your query, can I withdraw 1 lakh from bank? As far as I know, yes, you can withdraw 1 lakh from your bank account in India. However, it depends on your bank account type and your debit card. As for cheque transactions, most banks have a daily cash restriction of 1 to 2 lakh. Read on to get more details on it.
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Is It Allowed to Withdraw 1 Lakh from the Bank?
Yes, but it is subject to certain conditions and guidelines. Here's how it works:
- Most ATMs in India have a daily withdrawal limit, typically ranging from ₹25,000 to ₹50,000. Thus, withdrawing ₹1 lakh from an ATM may require multiple transactions or days.
- You can withdraw ₹1 lakh directly from the bank branch. All you need to do is fill out a withdrawal slip or issue a self-cheque for the amount. Carry valid ID proof (e.g., Aadhaar, PAN, or passport) for verification.
- As per RBI guidelines, withdrawals exceeding ₹50,000 usually require submission of a PAN card for tax compliance purposes.
- Banks generally do not charge fees for branch withdrawals unless exceeding specific limits for savings accounts. Check with your bank for details.
- Current accounts typically allow higher withdrawal limits compared to savings accounts. Verify your bank’s withdrawal policies for exact details.
I hope you understand how to withdraw 1 lakh from bank.
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Can I Withdraw 1 Lakh From Bank?
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2024-12-13T20:07:38+00:00 2024-12-13T20:07:40+00:00Comment
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