Punjab National Bank NEFT Form | Punjab National Bank RTGS Form
NEFT:
National Electronic Funds Transfer (NEFT) is a mode of online funds transfer that is introduced by the Reserve Bank of India (RBI). It quickly transfers money between banks throughout India. A bank branch must be NEFT-enabled for a customer to be able to transfer the funds to another party.
NEFT transactions can be made only across NEFT-enabled banks. Generally NEFT timings for Monday to Friday are 8 am to 6:30 pm, and for Saturdays, it is 8 am to 12 pm. Funds can be transferred via NEFT, by adding beneficiaries on the internet banking portals of the required bank.
Generally transferred through NEFT in a day: 25 Lakh per day per customer ID via online NEFT Transfer. For cash transactions, you can transfer a maximum of Rs. 50000 in each transaction. However, there is no limit on the total amount you transfer.
RTGS:
RTGS or Real Time Gross Settlement is an electronic method to transfer money from one bank to another bank on a real-time or gross basis within the country . The term ‘Real-time’ means that the payment is made instantly without any delay and may take around 30 minutes from receiving the request for remittance of funds.
Generally RTGS system is basically meant for large -value transactions. The minimum amount to be transferred through RTGS is Rs.2 lakh. However, there is no upper limit on RTGS transactions. One can access RTGS services from 9.00 to 16.30 on weekdays and from 9.00 to 14:00 on Saturdays for settlement at the RBI end.
| INFORMATION OF PDF FILE FOR FREE DOWNLOAD | |
| Title of PDF File | Punjab National Bank NEFT Form | Punjab National Bank RTGS Form |
| Language of PDF File | English |
| Size of PDF File | – |
| No of Pages in PDF File | – |