RTGS/NEFT
Real Time Gross Settlement/National Electronic Fund Transfer Sewa Bank provides RTGS/NEFT Facility.
RTGS/NEFT is one of the safest secure modes of fund transfer.
Benefits of RTGS/NEFT Services
- Avoid long waiting period
- Credits The Beneficiary's A/c The Same Day Through RTGS
- Credits The Beneficiary's A/c The Same Day/Next Day If Remittance Done Late In The Day
- No need of physical cheque/Demand draft
- Reduces time/cost/effort
- Reduces Paper work and improves efficiency
Guideline for Customer
- If customer don't know the IFSC code of the receiving branch then The IFSC code is also available on the RBI website (https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx).
Transfer Limit
- For RTGS Eligibility : Transactions Above 2 Lakh.
- For NEFT Eligibility : No Limit
RTGS V/S NEFT SYSTEM
- In NEFT customer can make payment of any amount. While in RTGS payment can be made only for Rs.2 Lac and above.
- In NEFT payment instructions is being processed at fixed time interval. While in RTGS payment instruction is processed immediately.