Table of Contents
Downloading the SBI RTGS/NEFT Form in PDF format allows you to transfer money from your SBI bank account without having to physically go to the bank and collect a form.
Filling out this remittance form will enable you to instantly transfer money from your SBI account, and the PDF can be downloaded from here.
It is possible for you to acquire the form from the local SBI bank. In addition, if you wish to fill the form out prior to your visit to the bank, you can download the form by utilizing the link that has been provided above.
How to Download SBI RTGS/NEFT Form?
|Form name||SBI RTGS/NEFT Remittance Form|
|Form type||Bank Form|
|Bank name||State Bank of India|
|Official website||Click here|
|SBI RTGS/NEFT form||Download|
What is RTGS and NEFT Remittance Form?
Prior to downloading SBI’s RTGS/NEFT Form, it is essential to comprehend that RTGS and NEFT are two interbank transfer systems brought forth by the RBI.
RTGS stands for Real Time Gross Settlement while NEFT is the abbreviation for National Electronic Funds Transfer. Although both of these mechanisms are mainly utilized for transferring funds, there are some minute distinctions between the two.
In order to transfer money through RTGS, a minimum amount of two lakhs is required with no upper limit. If transferring money through NEFT, a minimum of one Rupee is the required amount, with no upper limit. Both of these processes come with a nominal fee that needs to be paid.
Additionally, details such as name, bank details, and IFSC codes have to be provided when filling out the NEFT/RTGS offline form. A brief summary of the fees for both NEFT and RTGS are mentioned below.
Why fill out the SBI RTGS/NEFT form?
This SBI RTGS/NEFT form is completed for the purpose of transferring money from one bank account to another. Two options are provided in the form: RTGS and NEFT.
It is noteworthy that, if the amount to be transferred is more than two lakhs, then RTGS should be chosen. However, if the amount is less than two lakhs, then NEFT should be selected.
If you wish to transfer more than two lakhs of money, then the Real Time Gross Settlement (RTGS) system is your best bet, as it immediately credits the amount to the beneficiary’s account. For those who don’t have access to net banking or the SBI Yono app, there is a special form to be filled in, which can be obtained from a SBI bank branch.
For those who are more tech-savvy, there is the facility of transferring money through the National Electronic Funds Transfer (NEFT) system, although the processing time is longer in this method. Those who wish to use the SBI Net Banking or Yono app for these transactions can do so easily, without having to visit the bank branch.
Where to submit the SBI RTGS/NEF form?
As I earlier informed you, if you fill out the SBI RTGS/NEF form from an external source, you have to initially go to the bank to lodge the form. Moreover, you can also transfer money using a cheque, if someone gives you a cheque from outside the bank, and you desire to transfer that amount to your or another person’s account. To accomplish this, you can download the RTGS/NEF form from outside, and then bring it to the bank after completion.
SBI RTGS and NEFT Charges
If you utilize RTGS and NEFT as your preferred method of money transfer, you will need to pay a minimal fee for the service; the cost is based on the size of the transaction. A list of the fees is provided, and the charge should be indicated on the application form.
|Amount||Charge with GST|
|Up to Rs. 10000/-||Rs.2.36/-|
|Rs. 10001 to 100000||Rs. 4.72/-|
|Rs. 100001 to 200000||Rs. 14.16 /-|
|Rs. 200001 to 1000000||Rs. 23.60/-|
|Above 10 lacs||Rs.47.20/-|
What information will you need to fill the SBI RTGS form?
You have to fill in the following information in the SBI RTGS/NEFT form.
- Firstly, the amount of money needs to be transferred.
- Account number of the account from which the money will be deducted.
- Name of the beneficiary to whom the money is being transferred.
- Fourthly, the Name of the beneficiary bank to whom the money is being transferred.
- Account number of the beneficiary to whom the money is being transferred.
- IFSC code, from whom the money will deduct. (IFSC is given on the cheque leaves.)
How to fill SBI RTGS and NEFT forms?
If you are confused and uncertain how to fill the SBI RTGS and NEFT form, simply follow the steps outlined below to help guide you.
- Firstly, mark on transferring method what you want from RTGS and NEFT.
- Then fill in the transferable amount in words and figures.
- Thirdly, fill in the account number from which the amount will be debited.
- In order to complete the money transfer process, you are required to provide the beneficiary details including the beneficiary name, their bank’s name, the IFSC code, account number, and the amount to be transferred.
- Fifthly, fill in the applicant’s name, address, mobile number, and signature of the applicant.
Frequently Asked Questions
Are RTGS and NEFT form the same?
Yes RTGS and NEFT form is the same in the State Bank of India.
How long will it take to transfer money through RTGS?
The amount is transferred to the beneficiary instantly through RTGS.
How long does it take to transfer money through NEFT?
It takes only 30 minutes to 2 hours to transfer money through NEFT.
What is the time to transfer money through NEFT?
NEFT Timings – 8 AM to 7 PM on all days except 2nd & 4th Saturdays & Sundays and Holidays.
Can I transfer money online through RTGS and NEFT methods?
You can but if you have cash or check you have to go to the bank.
In summary, the SBI RTGS/NEFT Form in PDF format can be downloaded and used to transfer money from your SBI bank account without physically visiting the bank. The form can be filled out and submitted to initiate a transfer, and it can be downloaded from a provided link or obtained from a local SBI branch.