GSC Bank RTGS/NEFT Form
NEFT
National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this system, individuals can electronically transfer funds from their account to any individual having an account with any other bank branch in the country participating in the system. NEFT can be done through timings: 24 x 7 x 365 on Digital Banking Channels
Transaction Limits (Digital Banking Channel)
| Type of Account | Limit / Transaction | Limit / Day | Charges |
|---|---|---|---|
| Savings Account | Rs. 2,00,000 | Rs. 5,00,000 | Nil |
| Current Account | Rs. 2,00,000 | Rs. 5,00,000 | Nil |
RTGS
‘RTGS’ stands for Real-Time Gross Settlement, which means the continuous (real-time) settlement of funds individually on an order by order basis. ‘Real Time’ means the processing of instructions at the time they are received rather than at some later. Considering that the fund settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable. RTGS can be done through
Timings: 7:00 am to 5:30 pm on Digital Banking Channel
Transaction Limits (Digital Banking Channel)
| Type of Account | Limit / Transaction | Limit / Day | Charges |
|---|---|---|---|
| Savings Account | Rs. 2,00,000 – 5,00,000 | Rs. 2,00,000 – 10,00,000 | Nil |
| Current Account | Rs. 2,00,000 – 5,00,000 | Rs. 2,00,000 – 10,00,000 | Nil |
