RTGS can be defined as the continuous (real-time) settlement of funds individually on an order by order basis (without netting).'Real Time' means the processing of instructions at the time they are received rather than at some later time. 'Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis).The fund transferwithin 1-2 hours. The volume of RTGS transactions is increasing rapidly.
National Electronic Funds Transfer (NEFT)
NEFT is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Schemewithin 2-4 hours in a batch. It is a risk free, secure and reliable mode for transfer of funds of any amount.
Safest and Secure Mode of Fund Transfer
Credits the Beneficiary's A/c on Same Day Through RTGS.
Reduces time/cost/effort, Paper work and improves efficiency
Faster because no demand drafts, cheques or letters.
Eliminates settlement risk.
RTGS and NEFT services are available to customer for fund transfer during banking hours.
Monday to Saturday (Excluding 2nd & 4th Saturday) 10:10 AM to 4:00 PM
ATM card Photo & information Page Photo
Transactions below Rs.2, 00,000/- (Rs. Two Lakh Only) will be in NEFT.
Transactions above Rs.2, 00,000/- (Rs. Two Lakh Only) will be in RTGS