Will there be any bank charges if I deposit fifteen lakhs and repay it later?
It depends on your deposit method. Digital transfers like NEFT or RTGS usually carry no charge, while cash deposits above your bank's free monthly limit attract handling fees of roughly Rs. 2 to 5 per Rs. 1,000, and deposits above Rs. 10 lakh get reported to the tax department.
Whether you face charges on your Rs. 15 lakh deposit depends entirely on how you move the money and what you are repaying. Digital transfers stay largely free, cash deposits above your free limit attract handling fees, and loan repayments carry their own separate rules depending on the loan type.
Charges By Deposit Method
| Method | Typical Charge |
|---|---|
| Digital transfer (NEFT, RTGS, UPI, online) | Usually no charge; branch based transfers may carry a nominal fee |
| Cash deposit above your bank's free limit | Roughly Rs. 2 to 5 per Rs. 1,000 deposited, plus GST |
| Floating-rate loan repayment (most home loans) | Generally zero prepayment or foreclosure charges |
| Fixed-rate or business loan repayment | Foreclosure penalty often 1 to 4 percent of the outstanding principal |
What Else You Should Know
- Any cash deposit totalling Rs. 10 lakh or more in a financial year gets automatically reported to the Income Tax Department under the Statement of Financial Transactions.
- Keep valid proof of the source of your funds, such as a property sale, savings, business income, or a gift, since unexplained deposits can trigger tax scrutiny.
My Advice
Move the Rs. 15 lakh through a digital transfer rather than cash wherever possible, and keep the source document, such as a sale deed or gift letter, saved alongside your bank statement, so you have it ready the moment a bank or tax query comes up.
Got a budget of 40 to 50 lakhs? See what fits.
Full tuition and living breakdown, plus universities that fit your number.
More Cost & living questions
- If I get an education loan, can I proceed with the application after the loan amount is clear?
- Is it better to spend 12 lakhs in India or go abroad for higher studies in Germany for a Master's?
- Does the agency provide end-to-end services including visa, loan guidance, and accommodation?
- Do I need to show living expenses in my bank account for visa purposes, and can I withdraw it after reaching Ireland?
- How do I get an education loan for an MBA abroad as an Indian student?
- What is the minimum budget required for studying abroad in Canada or Ireland for two years?
- Are you helping with educational loans or bank loans for studying abroad in UK/Ireland for a Master's?
- Can I apply for an education loan up to 30 to 35 lakhs or 30 to 40 lakhs budget?