SBI Cash Deposit Machine: Know CDM maximum limit per day, charges, other details

SBI customer base is over 42 crore and its branches handle a large number of customers, who come to deposit cash in their accounts, every day. To ease the process of cash deposits, reduce the long queues and lessen the work pressure on the bank clerks, SBI has been installing cash deposit machines (CDM) at its various branches and other locations.

The CDM is an ATM-like machine that allows you to deposit cash directly into your account using the ATM cum debit card or your account number. You can use this machine to instantly credit your account without visiting the branch. While anyone can deposit cash using the CDMs, one should know its features and keep in mind the maximum limit and charges set by the bank:

* Instant credit of cash deposit into your own account

* Quick and convenient way to deposit cash

* The transaction limit is Rs 49,900 for Cardless deposit and through Debit Cards Rs 2 lacs (subject to account has PAN number).

* You can also deposit cash in your PPF, RD and Loan accounts

* Up to 200 currency notes can be deposited in a single transaction

* The CDM only accepts denominations of Rs 100, Rs 500 & Rs 2000 note. It does not accept Rs 200 note and other small denomination notes.

* Service Charges on Cash Deposit through CDMs/State Bank Cash Points are as follows:

If you deposit money into CDM usina an account number, Rs 25 will be deducted from your account on successful deposit. If you use an ATM/Debit card to deposit cash using CDM, no charges will be levied.

Also, you can use the CDM for other services as well. Check them out below:

Cash Withdrawal

You can also withdraw cash through this machine of SBI as well as of Other Banks accounts.

PIN change

Use this service to change your password at regular intervals.

Balance Enquiry

Expecting an inflow of funds in your account? Use this service to check the current available balance in your account. This service is available on the main options screen after swiping your card. You can also ‘Go Green’ by selecting the view option as the balance is displayed on the screen else get a transaction receipt by selecting print.

Mini Statement of Account

Keep track of the transactions in your account by availing this service. Mini-statement gives you an insight into the last 10 transactions in your account.

Source:- zeebiz