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Inter Bank Fund Transfer (NEFT/RTGS/NG-RTGS)


Inter Bank Fund Transfer enables electronic transfer of funds from the account of the remitter in one Bank to the account of the beneficiary maintained with any other Bank branch. There are two systems of Inter Bank Transfer - RTGS and NEFT presently. NG-RTGS (Next-Generation Real Time Gross Settlement) shall be introduced shortly. RTGS /NEFT systems are maintained by respective departments of Reserve Bank of India.


  1. RTGS- Real Time Gross Settlement- This is a system where the processing of funds transfer instructions takes place at the time they are received (real time). Also the settlement of funds transfer instructions occurs individually on an instruction by instruction basis (gross settlement). RTGS is the fastest possible interbank money transfer facility available through secure banking channels in India.
  2. NEFT- National Electronic Fund Transfer- National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals, firms and corporate can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme.


Individuals, firms or corporate maintaining accounts with our bank branch can receive funds through the RTGS / NEFT system. It is, therefore, necessary for the beneficiary to have an account with the RTGS / NEFT enabled destination bank branch in the country.


Individuals, firms or corporate maintaining accounts with our bank branch can transfer funds using NEFT/RTGS. Even such individuals who do not have a bank account (walk-in customers) can also deposit cash at our NEFT-enabled branches with instructions to transfer funds using NEFT/RTGS. Such customers have to furnish full details including complete address, telephone number, etc. NEFT/RTGS, thus, facilitates originators or remitters to initiate funds transfer transactions even without having a bank account.


For affecting an RTGS/NEFT remittance the remitter has to furnish the following information:

  1. Amount to be remitted.
  2. Remitting customer’s account number which is to be debited
  3. Name of the beneficiary bank.
  4. Name of the beneficiary.
  5. Account number of the beneficiary.
  6. Sender to receiver information, if any
  7. IFSC code of the destination bank branch


The structure of charges that can be levied on the customer for NEFT is given below:

a)      Inward transactions at destination bank branches (for credit to beneficiary accounts)
Free, no charges to be levied from beneficiaries

b)      Outward transactions at originating bank branches – charges applicable for the remitter



Service Charge

RTGS From Rs.2 Lakh to Rs. 5lakh

Rs.25/- + Applicable Service Tax


RTGS Above Rs.5 lakh

Rs.50/- + Applicable Service Tax


NEFT Upto Rs.1,00,000/-

Rs.5/- + Applicable Service Tax


NEFT Above Rs.1 lakh upto Rs.2 lakhs

Rs.25/- + Applicable Service Tax




RTGS / NEFT offers many advantages over the other modes of funds transfer:

  • The remitter need not send the physical cheque or Demand Draft to the beneficiary.
  • The beneficiary need not visit his / her bank for depositing the paper instruments.
  • The beneficiary need not be apprehensive of loss / theft of physical instruments or the likelihood of fraudulent encashment thereof.
  • Cost effective.
  • Credit confirmation of the remittances sent by SMS or email.
  • Near real time transfer of the funds to the beneficiary account in a secure manner.



***For Further Details & To Avail Services, Please Contact Our Nearest Branch***




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( with effect from 01-11-2017 )
=================================================================================================== Memo No. G/2229/673(Part -I) Dated. 24-10-2017 ===================================================================================================

SL No.

Type of Deposit

Rate of Interest (% p.a.)

General for less than 1 cr

General Rs.1 cr and above

Senior Citizen (Age above 60 years)


Savings Deposit


Term Deposit

  (a) 7 days to 14 days 4.00 4.00 4.00
  (b) 15 days to 29 days 4.00 4.00 4.00
  (c) 30 days to 45 days 4.00 4.00 4.00
  (d) 46 days to 90 days 5.00 4.25 5.00
  (e) 91 days to 180 days 6.25 6.00 6.25
  (f) 181 days to 364 days 5.75 5.00 6.25
  (g) 365 days /12 months/1 year 6.70 6.00 7.15
  (h) Above 12 months to less than 36 months 6.60 4.75 7.10
  (j) 36 months to 60 months 6.25 4.25 6.75
  (k) More than 60 months to 120 months 6.00 4.00 6.50
3 Monthly Income Scheme(MIS) for Individuals (minimum Rs. 5,000/- & then multiplies of Rs. 1,000/- for a period of 3 yrs. 6.25 6.75
4 Deposit against Statutory Reserve Funds, Bad Debt Funds & Other Funds of Co-op. Societies/Co-op Banks Interest will be calculated and served to designated account on half yearly basis. 6.70

The interest rate payable to employees and retired employees of Tamluk-Ghatal Central Co-Operative Bank Ltd shall be 0.50% above the applicable rate mentioned in this circular.No additional interest will be allowed
to serving employees Á retired employees in addition to benefit for Senior Citizen people.
TDS would be applicable for interest paid/payable exceeding Rs. 10,000/- during the financial year, except
where exemption is allowable as per Income Tax Act, 1961.
All concerned may please note and act accordingly.

Tamluk Ghatal Central Co-Operative Bank Ltd. Revised rates of Bank’s Charge / Commission Service Charges/Security Deposit/Fees
( with effect from 01-04-2014 )


Sr No Particulars Bank’s Charge / Commission/ Service Charges/ Security Deposit/ Fees etc.
1 Issuance of Banker’s Cheque/Draft i) Up to Rs. 5000 to Rs. 30/-
ii) Above Rs. 5000/- to Rs. 10000 Rs. 40/-
iii) Above Rs. 10000/- Rs. 4/- per thousand (Maximum Rs. 10000/-)
2 Remittance through RTGS/NEFT RTGS– Rs. 100000 to Rs. 500000 -Rs. 25 per transaction Above Rs. 500000 - Rs. 50 per transaction
NEFT– upto Rs. 100000 - Rs. 5 per transaction Above Rs.100000 - Rs. 25 per transaction
3 Issuance of Banker’s Duplicate Cheque/Draft Cancellation / Revalidation of Banker’s Cheque / Draft i) up to Rs. 5000 Rs. 50
ii) Above Rs. Rs.5000 Rs. 100
4 Outstation Cheque Collection i) up to Rs. 5000 Rs. 25
ii) Above Rs. 5000 to Rs.10000 Rs. 50
iii) Above Rs. 10000 to Rs.100000 Rs. 100
iv) Above Rs. 100000 Rs. 150 per instrument


  • The above charges will be all inclusive.
  • No additional charges i.e. courier charges, postage, out of pocket expenses etc. should be levied from the customer.
  • No service charges should be levied in case of collection of local cheque.
  • 50% of the actual collection charge shall be levied for inter-bank cheque/draft collection.
5 Return of cheque by the Bank to collecting bank or to the party for insufficient Fund or otherwise. Cheques upto Rs. 1 lac - Rs.100/- per instrument
Cheques above Rs. 1 lac – upto Rs. 1crore – Rs. 200/- per instrument
Cheques above Rs. 1 crore - Rs.500/- per instrument (In addition, actual postage is applicable)


  • If returned more than three times within one month on same account additional charges of Rs. 100/- per instrument (charges will be recovered from the drawer).
  • In case of frequent dishonor of cheques, such account will be treated as closed after giving prior notice for regularization of the Account as per RBI circular
Cheque deposited with us – Returned unpaid by other banks Cheques upto Rs. 1 lac - Rs.100/- per instrument
Cheques above Rs. 1 lac – upto Rs. 1crore – Rs. 200/- per instrument
Cheques above Rs. 1 crore - Rs.500/- per instrument (In addition, actual postage is applicable in all cases)
6 Issue of Duplicate Pass Book/ Statement of Accounts/ Term Deposit Receipts. Pass Book with latest entry-
  • For individuals - Rs. 50
  • For other than individuals – Rs. 100
Duplicate Term Deposit Receipt – Rs. 50/-
Duplicate Statement Folio – Rs. 50/-
7 Issuance of Deposit at Call Rs. 40/- per instrument
8 Stop payment instruction
  • For Savings – Rs. 50/- per occasion
  • For Current - Rs. 100/- per occasion
9 Operational Instruction/ Deletion of name Rs.100/- per case except in case of deletion of name of deceased depositor and except in case of also addition /deletion of name in Society/Institution Account
10 Charges for Standing Instruction (SI) – one time Registration – Same Branch and in same name – Free
Same branch and in different name – Rs. 25
Different branch and same name - Free
11 Charges for insufficiency of funds to carry out standing instruction Rs. - 50/- per occasion.
12 Attestation/ Photo attestation/Issuance of no dues Certificate /Verification of account holders signature/Certificate of maintenance of account with the branch on request Rs. 100/- per case
13 Closure of Current / Savings Account
  • For Savings – Rs. 100/- per occasion
  • For Current - Rs. 200/- per occasion
No Charges shall be levied in case of death of depositor and transfer of deceased depositor's A/C. to our other branch.
14 Premature closure of Term Deposit Account Rs. 50/- per case.
15 Transfer of Account from one branch to another (SB / CA) Rs. 100 /- per account
16 Minimum balance to be maintained
  • Savings Deposit (with Cheque facility) – Rs. 1000.00
  • Savings Deposit (without Cheque facility) – Rs. 300.00
  • Current Deposit – Rs. 4000.00
  • (Exemption in case of in service staff account)
  • Salary earner SB A/c drawing salary through this bank - Zero
17 Non-maintenance of Minimum balance
  • For Savings – Rs. 150/- per quarter
  • For Current - Rs. 300/- per quarter
  • Salary earner SB A/c drawing salary through this bank - Free


Default in non-maintenance in minimum balance shall be reckoned on average quarterly balance (AQB) in the account.
18 Account Maintenance Charges Rs. 200/- per half year in each current A/c.
19 Inoperative Charges SB A/c / CD A/c – Free
20 Charges for Cheque book Rs. 3.00 per leaf (First Cheque book of new account free of cost at the time of opening only)


  • Exemption in case of Staff member and ex staff member if he is not employed gainfully
21 Charges for issuing daily/weekly Statement of accounts
  • Monthly Statement –Once Free,Thereafter Rs. 2/- per entry, Minimum Rs. 100 per request
  • Weekly Statement – Rs. 450 per year. For repeat request, Rs. 2/- per entry Minimum Rs. 100 per request
  • Daily Statement – Rs. 1000 per year. For repeat request, Rs. 2/- per entry Minimum Rs. 100 per request
22 Charges for late payment of Recurring Deposit Instalments Rs.3 for Rs.100/- per month.
23 Enquiry relating to old records (more than 12 months old) Up to 1 year old record Rs. 100/- per reference. Beyond 1 year Rs. 300/- per year per reference + out of pocket expense
24 Loss of Token Rs. 100/- per token
25 Deposit / Withdrawal of Cash (home & non home branch) At Local (home) / non home branches In terms of RBI circular - Free


Note: For deposit of Cash - Cash handling charges shall be levied as applicable as aforesaid.


  • Cash withdrawal at non-home branches by self only with maximum amount Rs. Fifty thousand per day per account by cheque only.
26 Locker rent Rs. 600 per year.


If any locker holder fails to pay the locker rent in due time 15 days grace time will be allowed.


For Staff Members (existing & retired) – Rs. 400/-


Locker can be leased for a period upto 3 years at a time subject to advance payment of rent. However, there would not be any concession in case advance rent is paid by customers. The rent payable for the overdue period to the date of revision would be recovered at old rate and the revised rate will be recovered proportionately from the date of revision. Refund of advance rent may be allowed for the un-expired period in case the locker is surrendered before the expiry of the period of three years for which advance rent has been paid. The refund will be made in complete years i.e. fraction of a year remaining in the year of surrender shall be ignored.
27 Locker Registration Cost (one time) Rs. 100.00
28 Locker visit charges No of Locker visit per year
  • 12 Visits - Free
  • Thereafter per visit – Rs. 50.00
29 Security Deposit for locker holding. Rs.10,000/- (Fixed Deposit)
  • Interest will be credited annually to SB A/c and locker rent will be realized from the SB A/c through SI.
30 Penalty for late payment of locker rent Rs 10/- per month
31 Locker Surrender charge Rs. 500/- per locker
32 Loss of safe deposit locker key Rs. 300/- + actual expenses for breaking and replacement of the locker


General Terms: Concession / Exemption in service charges in respect of collection/bank charges:-

1. Collection of subsidy cheques issued by the Central and State Government under any programme whenever applicable is to be collected at par.


2. Collection of cheques at par and free remittance facility by way of DD/MT/RTGS/NEFT etc. may be allowed to blind & physically handicapped and also to institutions set up for their welfare/benefit, provided they bank with us. However postage and other out of pocket expenses should be recovered.


3. Cheques / Drafts favoring Prime Minister’s Relief Fund/Chief Minister’s Relief Fund are to be collected at par. However postage and other out of pocket expenses should be recovered.


4. Collection of instruments favoring Welfare Service, Charitable & Religious Institution may be allowed at par provided that these institutions are exempted from payment of Income Tax and also bank with us. However actual postage/transmission charges and out of pocket expenses must be recovered while collecting instruments for the above customers.


5. Collection of cheques of retirement benefit of ex-service holder is to be collected at par provided they bank with us.


6.Service Tax as applicable will be levied on all service charges and would be rounded-off to the next Rupee.


7.Concessions for Staff Members (existing & retired) :

  • No Service Charge should be levied on transaction conducted by our staff members.
  • No service charge should be levied on transaction conducted by ex-staff member if he is not employed gainfully.
  • Minimum balance maintenance criteria are not applicable in case of our staff members and ex-staff member if he is not employed gainfully.

Note: All out of pocket expenses to be recovered.



(Fees & Charges For Loans and advances with effective from 01/04/2014)



(a) Nominal membership Fees:

i) Bank loan upto Rs. 100000/- Rs. 200/-
ii) Loan above Rs. 1-00 lakh upto Rs. 3-00 lakh Rs. 400/-
iii) Loan above Rs. 3-00 lakh upto Rs. 5-00 lakh Rs. 600/-
iv) Loan above Rs. 5-00 lakh (Rs. 600/- + Rs.50/- Per lakh)
Loan against NSC/KVP/LIC Upto 100000/- Rs.50/-
Loan against Gold loan Above100000/- Rs.100/-
Tour,Festival Advance/Over Draft /Cash dep Rs.100/-


(b) Service Charge:

i) Bank loan upto Rs. 200000/- Rs.200/-+ST
ii) Loan above Rs. 2-00 lakh upto Rs. 5-00 lakh Rs. 300/-+ST
iii) Loan above Rs. 5-00 lakh upto 8-00 Lakh Rs. 600/-+ST
iv) Loan above Rs. 8-00 lakh upto 10-00 Lakh Rs. 800/-+ST
v) Loan above Rs. 10-00 lakh Rs.1000/-+ST
It will be applicable for Nominal members (except the Nominal member of Gold Loan/NSC/KVP etc./Cash dep/ Tour,Festival and Over Draft advance) and for societies, which borrow loan for its own but not for its members.


(c) Documentation and processing charges

at the time of loan Rs.300/-
(except NSC/KVP/LIC/Gold loan/Cash dep/ Tour,Festival and Over Draft advance,) The necessary stamp papers shall be purchased and the charge of authentication of Notary shall be born by the borrower.


(d) Title & searching fee :

(for search & title report of Lawyer).
i) Rs. 800/-Per case for nominal member of the bank for all types of loan and member of ECCS for HB loan.
ii) In case of MT/LT Agril.& Agril. Allied and Non-agril. Loan to the member of PACS ,the concerned PACS shall arrange for search and title report from Bank’s empanelled Lawyer. Fees in this regard shall be born by the applicant member not exceeding Rs.300/-in case of searching of land for more than one member at a time and in case of searching of land for a single member fees shall not be exceeded Rs.600/-.
iii) Rs.300/-for the employee of the bank.


(e) Valuer’s Fee:

Rs. 3000/- (for valuation report of Bank paneled valuer).


(f) Appraisal Fees:-

0.25% of project cost plus S.T. for all proposal of financial accommodation loan/advance for Farm & farm- allied /Non-Farm sector for nominal member of the bank(except Loan to salaried person & NSC/KVP/Cash dep/Gold loan & Potato Bond Cash Credit Loan, Tour,Festival and Over Draft advance). In case of home/house building loan appraisal fees will be applicable 0.10% of project cost plus S.T. to nominal member of the bank and member of ECCS.. The appraisal fee will be calculated on the project at individual level and in respect of Co-Operative Societies, appraisal fee may be calculated on the project cost of the society if the project/loan is meant for society itself not for its members, loan to members through Co-Op society, the calculation of appraisal fees shall be made on the basis of project cost of the individual members level/or unit level.


(g) Fees for execution of deed of mortgage/mortgage bond:-

i) Mortgage Karbarnama for ST SAO loan through PACS:- Rs.20/- per member.
ii) Deed of mortgage/mortgage bond for loan to member through PACS other than ST SAO loan:- Rs.50/- per member.
iii) For Equitable Mortgage of land:- Rs.100/- per case.
# Fees to be paid to the deed writer in case of sub clause no.(h) i) &(h) ii):- Rs.15/- per case.


(h) Cost of loan application and nominal membership form :-

i) Loan application forms :- Rs.25/- per set
(except Cash Dep/LAD,Tour/Festival advance, Over Draft & gold loan):-
ii) Nominal membership application form :- Rs.5/- per pc.
iii) LAD,Tour/Festival advance /Cash Dep/ Over Draft & gold loan :-Rs.10/- per set


(i) Fees for gold assessor/expart/appraiser/valuer for gold loan

i) Loan upto Rs. 10000/- Rs.30/-
ii) loan above Rs.10000/- Rs 30/ plus
Rs.2/-per thousand excess of loan Rs10000/


(j) Fees for CERSAI registration under SERFAESI Act2002

(for securities in Non-agril nature-)as below-
SL No Nature of Transaction to be Registered FORM.No Amount of fee payble
1 Particulars of creation or modification of Security Interest in favour of secured creditors FORM-1 Rs.500 for creation and any subsequent modification of Security Interest in favour of a secured creditor for a loan above Rs.5 lakh. For a loan below Rs.5 lakh, the fee would be Rs.250/- for both creation and modification of security interest.
2 Particulars of securitization or reconstruction of financial assets FORM-lll Rs.1000.00
3 Particulars of satisfaction of securitization or reconstruction transactions FORM-lV Rs.250.00
4 Any application for information recorded / maintained in the register by any person -- Rs.50/-`
5 Any application for condonation of delay up to 30 days -- Rs.2500.00 in case of creation of security interest for a loan upto Rs.5 lakh and Rs.5000.00 in all other cases.

*Service Tax will be added

The Board of Directors of the Bank may revise the above rate of fees & charges in any time or any case.


The above charges, as the case may be, will be realized from borrower by Branch at the time of submission of proposal of loan/advance/financial accommodation and the Branch may pay the searching fees to lawyers and valuativaluer, fees to MK deed writer’s and fees to gold assessor after receiving the report from them properly.




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