RTGS NEFT - Personal Banking

RTGS NEFT

Real Time Gross Settlement System (RTGS)& National Electronic Fund Transfer system (NEFT)

Bank offers Real Time Gross Settlement System (RTGS) & National Electronic Fund Transfer system (NEFT) which enables an efficient, secure, economical and reliable system of transfer of funds from bank to bank as well as from remitters account in a particular bank to the beneficiarys account in another bank across the country.

1. RTGS:

An electronic payment system in which payment instructions between banks are processed and settled individually and continuously, on a real time basis, throughout the day. Available for transaction value of Rs.2.00 lacs and above.

2. NEFT :

Another electronic payment system in which payment instructions between banks are processed and settled on deferred net settlement (DNS) basis at fixed times during the day. There is no minimum or maximum stipulated transaction value for using this facility.

Note :RTGS and NEFT systems work on all days except on Sundays and common National Holidays across the states.

Information Required for transfer of Funds

• Amount to be remitted
• Account no. to be debited
• Name of the beneficiary bank
• Name of the beneficiary customer
• Account no. of the beneficiary customer
• Sender to receiver information, if any
• IFSC code of the receiving branch.(IFSC Code is printed on cheque leaves.)

These facilities are available at all our Core Banking branches .For further details, please contact our nearest branch or contact New Businesses Department at Corporate Centre, Mumbai on 022-22855822 or e mail : help.rtgs@sbi.co.in

•  Click here for Customer Facilitation Center (RTGS/NEFT)