The lorry was intercepted on "definite information", about 55 kms from here, and the cash was seized by police who also arrested the driver and its cleaner, Belgaum district Superintendent of Police, Chandragupta told PTI.
He said the cash was reportedly being brought from neighbouring Maharashtra.
Further investigation was in progress, Chandragupta said.
Bye-elections are being held for Chikkodi-Sadalga in Belgaum district, Shikaripura and Bellary Rural tomorrow, to fill vacancies caused by the resignation of MLAs of the three constituencies consequent to their election to Lok Sabha.