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SBI RTGS/NEFT Application Form
Bank offers Real Time Gross Settlement System (RTGS) & National Electronic Fund Transfer system (NEFT) which enables an efficient, secure, economical and reliable system of transfer of funds from bank to bank as well as from remitters account in a particular bank to the beneficiarys account in another bank across the country.
1. RTGS: An electronic payment system in which payment instructions between banks are processed and settled individually and continuously, on a real-time basis, throughout the day. Available for a transaction value of Rs.2.00 lacs and above.
2. NEFT: Another electronic payment system in which payment instructions between banks are processed and settled on a deferred net settlement (DNS) basis at fixed times during the day. There is no minimum or maximum stipulated transaction value for using this facility.
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
- IFSC code of the receiving branch. (IFSC Code is printed on cheque leaves.)