RTGS and NEFT forms are used by customers for transferring funds. State Bank of India also allows it’s customers to use this facility. RTGS is used for the transaction of more than 2 Lakhs Rupees while NEFT is used for less than 2 Lakhs Rupees. For processing this, you have to fill either of these forms and submit to your State Bank of India branch.
RTGS: Real-Time Gross Settlement & NEFT: National Electronic Fund Transfer System are two systems used by almost all banks of India to process an easy and secure exchange of funds from one bank account to other bank accounts across the nation.
Now we will guide you step by step in filling RTGS/NEFT offline form. But before that, you will need the following information –
- Transfer Amount
- Beneficiary Account No.
- Beneficiary Bank Name
- Beneficiary Customer Name
- Beneficiary Bank Account Number
- IFSC code of Beneficiary Bank Branch
Now you need to follow below-given steps thoroughly to fill the form correctly –
- There are two sections in NEFT/RTGS forms. Customer should fill left section and right section will be filled by Bank
- Various things like Sender Account Details, Beneficiary Account Details, Beneficiary Bank IFSC Code and the amount of money which you need to transfer are asked and it should be filled by you.
- The right section of the form will be filled by the bank. When the transaction is successful then, the Bank employee will fill the right section where he/she will put the transaction id along with other details.