RTGS :
Real Time Gross Settlement’, RTGS, is the fastest possible money transfer
system through the banking channel. Because settlements are made in real time, transactions
are not subject to any waiting periods. With RTGS, transferring money becomes an
easier, faster process. Real Time Gross Settlement (RTGS) System is set up, operated
and maintained by Reserve Bank of India to enable funds settlement on real-time
basis across Banks in the country.
Eligibility :
Nainital Bank offers instant remittance facility through RTGS to both corporate
and individual customers for transfer of funds from their accounts with us to customers
of other Bank branches or vice versa, which are RTGS enabled.
Requirement :
Nainital Bank customer who is willing to transfer the funds will be required to
provide the IFSC Code (a number allotted to each participating Bank branch) of the
branch where the funds are to be transferred, along with other details of the beneficiary
- Name, Account Number, etc. If they are to receive funds from others, they can
inform the details like IFSC Code (of the branch of Nainital Bank where account
is maintained), account number, etc to the sender.
Benefits to Customers :
- Transfer of funds on the same day
- No physical loss or material changes while in transit
- Fully secured
- Better cash management
RTGS Schedule :
As per RBI, schedule of RTGS is as follows:
|
Day
|
Start Time
|
End Time
|
All working Days
|
07:00 hrs
|
18:00 hrs
|
*Please note that all the above timings are based on Indian Standard Time (IST)
only.
Charges:
Charge per transaction
(Tax extra)
|
|
Amount Slab
|
Rates - per transaction
|
|
Rs.2 to 5 lacs
|
Rs. 24.50 (+ Applicable GST)
|
|
Above Rs.5 lacs
|
Rs. 49.50 (+ Applicable GST)
|
NEFT :
Reserve Bank of India has introduced a system called ' National Electronic Funds
Transfer System (NEFT)' through which funds transfer operation would take place
among member Banks and financial institutions. Our bank is one of the participants
in the above system. Electronic Funds Transfer System facilitate an efficient, Secure,
economical, reliable and expeditious system of funds transfer
Eligibility :
Fund Transfer through NEFT can be availed by the customers who maintain their operative
accounts viz., Savings Bank, Current Account. This facility can also be allowed
to CC / OD account etc., subject to ensuring end use of funds. Outward / Inward
remittance facility under NEFT is offered to the customers of all the NEFT enabled
branches.
Requirement :
Nainital Bank customer who is willing to transfer the funds will have to submit
a request by filling up a form available in all NEFT Branches along with the Cheques/Debit
instruction. The customer has to inform the beneficiaries Account Number, Name and
IFSC code the Bank/ Branch where the funds are to be remitted. If they are to receive
funds from others, they can inform the details like IFSC Code (of the branch of
Nainital Bank where account is maintained), account number, etc to the sender
Benefits to Customers :
- NEFT transactions may be made for amounts inclusive of paisa component.
- There is no value limit for putting through an individual NEFT transaction.
- No physical loss or material changes while in transit
- Fully secured
- Better cash management
NEFT Shedule :
RBI NEFT transactions are settled in batches based on the following timings:
NEFT is now available 24*7, 365 days.
The settlement to beneficiary will be done as per RBI batches.
(Transaction through Branches - As per Branch working Hours)
|
* Please note that all the above timings are based on Indian Standard Time (IST)
only
The messages sent before the above batch timings shall be included in the respective
settlements otherwise they shall be included in the next batch/day
Charges :
Presently charges are Nil for Savings Bank users for NEFT done via Netbanking.
|
Amount Slab
|
Rates - per transaction (GST extra)
|
|
Up to Rs.10,000
|
Rs. 2.25 (+ Applicable GST)
|
|
Above Rs.10,000 up to Rs 1 lakh
|
Rs. 4.75 (+ Applicable GST)
|
|
Above Rs. 1 lac and upto 2 lac
|
Rs. 14.75 (+ Applicable GST)
|
|
Above Rs. 2 lac
|
Rs. 24.75 (+ Applicable GST)
|