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PNB RTGS/NEFT Form

Real-Time Gross Settlements (RTGS)

The acronym `RTGS` stands for Real-Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds transfers 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). Considering that the funds’ settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.

Information Required For Transfer Of Funds

Amount to be remitted
Account no. to be debited
Name of the beneficiary bank
Name of the beneficiary customer
Account no. of the beneficiary customer
Sender to receiver information, if any

Time Schedule: (Change In RTGS Timing Wef. 26.08.2019, Change In NEFT Timing Wef. December 16, 2019)

Service Type	Remittance Type	Start Time	End Time
Retail Internet Banking	NEFT	24*7	24*7
Retail Internet Banking	RTGS	7:00 a.m.	6:00 p.m.
Mobile Banking	NEFT	24*7	24*7
Corporate Internet Banking	NEFT	24*7	24*7
Corporate Internet Banking	RTGS	7:00 a.m.	6:00 p.m.
Branch (Within Working Hours)	NEFT	Within Working Hours	Within Working Hours
Branch (Within Working Hours)	RTGS	7:00 a.m.	6:00 p.m.

Is There Any Minimum / Maximum Amount Stipulation For Rtgs Transactions?

The Minimum And Maximum Amount For RTGS Transactions

Minimum	Maximum
Rs 2 lacs	No limit

National Electronic Funds Transfer (NEFT)

NEFT is an application developed by RBI to facilitate customers to transfer funds from one bank account to another bank account in India. It is an efficient, secure, economical, reliable, and expeditious system of funds transfer between banks. There is no minimum or maximum limit for remittance through NEFT.

Service Charges For NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT) Are As Follows

Charges Applicable W.E.F. 01-04-2020

Payment System		Revised Charges
NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT)
Inward Transactions		Free
Outward Transactions
Transaction Value	From Branch	From IBS/ MBS
Upto Rs.10000/-	Rs.2.00	NIL
Above Rs.10000/- to 100000/-	Rs.4.00
Above Rs.100000/- to 200000/-	Rs.14.00
Above Rs.200000/-	Rs.24.00