Recurring deposit and Fixed deposit query

Hi sir/mam, I am working in unorganized sector.. have sold a house for 30 lakh. the buyer gave 20 lakh in cheque and 10 lakh in cash. I want to deposit 10 lakh as fixed deposit. is it possible atleast 5 lakh into fixed deposit ?

or shall i split it in recurring deposit. ? 

if not, what should i do ? please resolve my query.

Thanks

Replies (3)
Quick Summary
This discussion addresses queries about depositing large sums of cash into Fixed Deposits (FD) or Recurring Deposits (RD), advising to deposit cash gradually to comply with regulations. It also covers a nominee's situation regarding a lost FD certificate and joint bank accounts after the account holders' passing, explaining the bank's procedures for claims.

Never do that, first all cash transaction above 2lkh is prohibated undee it law
You should deposit the cash amount in bank account under small divisions like 100000 rupees in a day etc.. after depositing all of the amount you should fixed deposit such amount then no problem will happen
my father was holding savings account with a bank with my Mother as the joint holder. 
He also had a Fixed Deposit with the same bank. The FD certificate was misplaced by my father.  Recently my father expired in 2023 and my Mother had expired in year 2021 . I am the sole nominee to both the savings A/c and this FD account. As a part of the death claim the FD amount and SB accounts was to be transferred to my savings account and their account closed in your system. However as per the branch I need to file police complaint, apply advertisement in local and regional paper. Since im the nominee cant the FD and savings amount be transferred to my account and their account closed. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
20 September 2026
Semi Qualified CA

Navin & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
19 September 2026
Finance Manager

Mugdha Art Studio

Hyderabad

CA

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
22 September 2026
Account Assistant

Chirag P Shah & Co. Chartered Accountant

Pune

B.Com

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details