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

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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.

  • 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.
  • 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:
  • Amount to be remitted.
  • Remitting customer’s account number which is to be debited
  • Name of the beneficiary bank.
  • Name of the beneficiary.
  • Account number of the beneficiary.
  • Sender to receiver information, if any
  • IFSC code of the destination bank branch
  • The structure of charges that can be levied on the customer for NEFT is given below:
  • Inward transactions at destination bank branches (for credit to beneficiary accounts)– Free, no charges to be levied from beneficiaries
  • Outward transactions at originating bank branches – charges applicable for the remitter


  • RTGS From Rs.2 Lakh to Rs. 5lakh
  • RTGS Above Rs.5 lakh
  • NEFT Upto Rs.1,00,000/-
  • NEFT Above Rs.1 lakh upto Rs.2 lakhs


  • Rs.25/- + Applicable Service Tax
  • Rs.50/- + Applicable Service Tax
  • Rs.5/- + Applicable Service Tax
  • 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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