RTGS :
Real Time
Gross Settlement’, RTGS, is the fastest possible money transfer system through
the banking channel. Because settlements are made in real time, transactions
are not subject to any waiting periods. With RTGS, transferring money becomes
an easier, faster process. Real Time Gross Settlement (RTGS) System is set up,
operated and maintained by Reserve Bank of
Eligibility :
Nainital
Bank offers instant remittance facility through RTGS to both corporate and
individual customers for transfer of funds from their accounts with us to
customers of other Bank branches or vice versa, which are RTGS enabled.
Requirement :
Nainital
Bank customer who is willing to transfer the funds will be required to provide
the IFSC Code (a number allotted to each participating Bank branch) of the
branch where the funds are to be transferred, along with other details of the
beneficiary - Name, Account Number, etc. If they are to receive funds from others,
they can inform the details like IFSC Code (of the branch of Nainital Bank
where account is maintained), account number, etc to the sender.
Benefits to Customers :
- Transfer of funds on the same day
- No physical loss or material changes while in transit
- Fully secured
- Better
cash management
RTGS Schedule :
As per RBI,
schedule of RTGS is as follows:
|
Day |
Start Time |
End Time |
|
All working Days |
07:00 hrs |
18:00 hrs |
*Please
note that all the above timings are based on Indian Standard Time (IST) only.
Charges:
|
Charge per
transaction |
|
|
Amount Slab |
Rates - per transaction |
|
Rs.2 to 5 lacs |
Rs. 24.50 (+
Applicable GST) |
|
Above Rs.5 lacs |
Rs. 49.50 (+
Applicable GST) |
Reserve Bank of India has introduced a system called ' National Electronic Funds Transfer System (NEFT)' through which funds transfer operation would take place among member Banks and financial institutions. Our bank is one of the participants in the above system. Electronic Funds Transfer System facilitate an efficient, Secure, economical, reliable and expeditious system of funds transfer
Fund Transfer through NEFT can be availed by the customers who maintain their operative accounts viz., Savings Bank, Current Account. This facility can also be allowed to CC / OD account etc., subject to ensuring end use of funds. Outward / Inward remittance facility under NEFT is offered to the customers of all the NEFT enabled branches.
Nainital Bank customer who is willing to transfer the funds will have to submit a request by filling up a form available in all NEFT Branches along with the Cheques/Debit instruction. The customer has to inform the beneficiaries Account Number, Name and IFSC code the Bank/ Branch where the funds are to be remitted. If they are to receive funds from others, they can inform the details like IFSC Code (of the branch of Nainital Bank where account is maintained), account number, etc to the sender
- NEFT transactions may be made for amounts inclusive of paisa component.
- There is no value limit for putting through an individual NEFT transaction.
- No physical loss or material changes while in transit
- Fully secured
- Better cash management
RBI NEFT transactions are settled in batches based on the following timings:
| NEFT is now available 24*7, 365 days. The settlement to beneficiary will be done as per RBI batches. (Transaction through Branches - As per Branch working Hours) |
* Please note that all the above timings are based on Indian Standard Time (IST) only
The messages sent before the above batch timings shall be included in the respective settlements otherwise they shall be included in the next batch/day
Presently charges are Nil for Savings Bank users for NEFT done via Netbanking.
| Amount Slab | Rates - per transaction (GST extra) |
| Up to Rs.10,000 | Rs. 2.25 (+ Applicable GST) |
| Above Rs.10,000 up to Rs 1 lakh | Rs. 4.75 (+ Applicable GST) |
| Above Rs. 1 lac and upto 2 lac | Rs. 14.75 (+ Applicable GST) |
| Above Rs. 2 lac | Rs. 24.75 (+ Applicable GST) |
Download Nainital Bank RTGS Form / NEFT Form
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