What is home branch and non-home branch?

a. Home Branch: Home Branch is a branch where the Customer’s Account is maintained. b. Non-Home Branch: The Banking facilities available to Customers at branches other than home branch are called non-home branches.

What is the meaning of home branch in banking sector?

The home branch of a bank account holder is the branch where the account is initially opened and the process of know your customer (KYC) is completed. The relevance of the home branch has decreased with banks providing online facilities and at par cheques to account holders.

What is non branch banking?

None | ByArnav Pandya. An increasing number of people are moving towards non-branch banking — where an individual’s banking needs are met without him or her physically entering a bank’s branch. This kind of banking helps financial institutions to save on the costs associated with servicing a customer at a branch.

What is the basis for defining Home Location Non-Home Location branches?

A customer opens a savings bank account in his/her home branch of a bank. Basically, where the customer’s account is maintained is the home branch. Banking facilities available to customers at branches other than the home branch are called non-home branches.

Can I deposit cash in non-home branch?

The maximum limit for deposit of cash at Non-Home branch is Rs 2 lakh per day. Thereafter, Branch Manager of Non-home branch is vested with the powers to accept more cash.

Can I withdraw money from non-home branch in SBI?

Now, SBI customers can withdraw Rs 25,000 cash per day for self using “withdrawal form” and accompanied by “savings bank passbook” at “non-home” branches. SBI customers can withdraw Rs 1 lakh per day for self using cheque at “non-home” branches.

What are the types of branch?

Branches can be classified into two types.

• Dependent Branches. The term dependent branch means a branch that does not maintain its own set of books.
• Independent Branch. An independent branch means a branch, which maintains its own set of books.

How do I withdraw money from a non-home branch?

This is how you can withdraw money from non-home branch. The bank charge you extra for the verification of the signature. So before you withdraw the money get the charges confirmed from the bank officials. For more information, you can call the customer care of the bank on 1800 425 3800.

Can Non-Home branch cheque be deposited HDFC?

Cheques drawn on bank branches at outstation centers will be collected using inter-branch arrangements in vogue. Cheques drawn on Metro / Non-metro cities where HDFC Bank has a branch, credit will be given on receipt of clear funds.

What is a non-home branch in a bank?

This account is basically attached to that branch, and all other branches of the same bank become non-home branches. In fact, at the Connaught Place (New Delhi) branch of a state-run bank, non-home branch customers are made to stand outside the bank premises—whatever be the season—and can make transactions only through a small window.

What are the private sector banks in India?

Private Sector Banks Axis Bank IndusInd Bank Bandhan Bank Jammu and Kashmir Bank City Union Bank Karnataka Bank Dhanlaxmi Bank Kotak Mahindra Bank DCB Bank Karur Vysya Bank

What are the different types of commercial banks?

Commercial Banks can be further classified into public sector banks, private sector banks, foreign banks and Regional Rural Banks (RRB). On the other hand, cooperative banks are classified into urban and rural.

What is the maximum amount of cash transactions at non-home branches?

Apart from this, there is a limit to the amount of cash transaction that can be conducted at non-home branches. For instance, ICICI Bank Ltd charges 5 per 5,000-transaction, and a minimum of 150 after the first free non-home bank transactions for the month.