SBI RTGS/NEFT PDF Form Download: In order to transfer more money, RBI has offered two options for the electronic transfer of money from one bank account to another. These are NEFT (National Electronic Funds Transfer) and RTGS (Real-Time Gross Settlement). These transfers can be done through an internet banking facility. To transfer more than 2 lakhs money from one bank to another bank online or offline, RTGS payment service is required.
If you also want to transfer money through RTGS? And wondering how to transfer money through RTGS? So the simple answer to this is that we can do RTGS in two ways. One is the online method and the other is the offline method. So I am going to inform you about these two methods.
To transfer more than 2 lakhs money, first of all you will have to download SBI RTGS PDF form.
If you do not know how to apply online then you can also apply it offline, but for this, you have to go to the Bank Branch and fill a slip, the way you fill the form normally while making check deposit or NEFT.
This form is in two parts. You have to add all the information in the form.
As soon as you fill and deposit the RTGS form, the Sending Bank feeds the information filled in that form into its Central Processing System.
The information is sent to RBI as soon as it feeds on the Central Processing System.
After this, the RBI completes the entire transaction by processing and debits the Amount (money) from the Sending Bank Account and credits that Amount in the account of the bank to which the RTGS has been made.
After this entire process, a Unique Transaction Number (UTN) is generated, which the RBI sends to the bank sending the Amount. Sender Bank receiving this UTN means that your fund has just been transferred.
As soon as the bank sending the Amount is received the UTN, the same bank gives the information to the bank receiving the Amount and then the Receiver Bank credits that Amount in the account of the account holder to whom the Amount is sent. .
This process, which takes a period of about 30 minutes to complete, is completed during which your RTGS Transaction is completed and credit is given to the Fund Beneficiary Account.
In Online Method, you can do RTGS using Internet Banking. The person to whom you want to transfer funds. you have to add him to your account as Payee or Beneficiary Customer. Where you have to provide all the information about that customer. And then the bank checks the details of that person. For this work, it takes about 12-24 hours for the Bank to check the Beneficiary Detail.
When the checking process is completely completed by the bank, then Beneficiary Customer is activated by the bank. After you can transfer funds to that Beneficiary Customer.
To add any person as Beneficiary or Payee in your bank account, you must have the following information related to Beneficiary Customer. Otherwise, you cannot add it as Beneficiary through your Internet Banking account
– Bank or Bank Branch name – Name and Account Number – IFSC Code
Charges of SBI RTGS Transactions
Rs.2 lakh to Rs.5 lakh
Rs.30 per transaction
Above Rs.5 lakh
Rs.55 per transaction
Timing for SBI RTGS
9.00 a.m. to 4.30 p.m
9.00 a.m. to 2.00 p.m
Hope, you downloaded State Bank of India(SBI) RTGS/NEFT form successfully. If you face any issues while downloading let us know in the comment section below. Have a great Day!