IDBI stands for Industrial Development Bank of India. this bank was established in 1964 as a development financial institution. In this article, we will discuss IDBI Bank RTGS form fill up, its timings, features, and benefits in detail.
But before lets brush up about RTGS in brief.
What is RTGS?
RTGS is a ” Real-time Gross settlement” which means the transfer of money from one account to another account instantly.
In simple terms, you can say a settlement happens as soon as it is received. when you send money using RTGS the amount is credited or settled to the beneficiary account immediately without any delay.
RTGS is generally used for the transaction of large amounts.
The minimum amount you can transfer through IDBI RTGS is 2 lakhs. In order to transfer funds using RTGS, the customer needs to fill the RTGS form.
If you are a customer of IDBI Bank you can get RTGS form in any of the branches.
How to Download IDBI RTGS/NEFT form PDF
Source – IDBI Official Website
Since RTGS transfers are managed by the Central Bank i.e. RBI( Reserve Bank of India).so once the transaction is settled it can not be reversed. You need to be careful while filling IDBI RTGS Form.
How to Fill IDBI RTGS/NEFT Form Step by Step?
If you look at the IDBI RTGS form it has two pages. you need to fill in only the first page. follow the process below to fill IDBI RTGS/NEFT form without any mistakes.
- First, fill in the bank branch name where you have your account and then the Date (should be DD-MM-YY format like 23- 12 -2019).
- Check the BOX remit funds through as RTGS as we are going to transfer more than 2 lakhs.
- The next option is Payable at (Place). here you should fill beneficiary place name. It means if you are transferring your friend who lives in Delhi, fill Payable at place Delhi.
- Now enter the name of the Beneficiary. it means to whom you are transferring money mention his/her name on the field.
- Next Enter Beneficiary address carefully.
- Enter Beneficiary Account Number (to whom you want to transfer).this is the most crucial part. check twice the account number of the beneficiary to be sure.
- Select Beneficiary Account Type now. if he or she has a savings account tick the SB Check box if the current account tick the CA checkbox. similarly, follow for others as well.
- Now enter beneficiary Bank Name.
- Next, Enter the Beneficiary Bank IFSC code.be careful when you enter the beneficiary ISFC code as it is different for every bank branch.
- Now enter the Amount and commission in the given box. add both and write in the total box. Also, write the total amount in words. For example – suppose we are transferring 2.5 lakh and the commission from 2 lakhs to 5 lakhs of IDBI Bank RTGS transfer is – Rs. 30 then total become Rs. 250030. write this amount in the Total box and in the same amount in words as well.
- On the Box, Details of Cash Remitted you need to fill the denomination of notes you are depositing in Cash to the bank. for example, we have to pay the total amount of Rs. 250030 then we have to fill in the details of cash like 500*400 = 200000,20*1 = 20 & 10*1 = 10.write total sum in the given box.
- You can use Cheque as well as you can debit from any of your accounts. attach cheque with the form, or mention the account number from which you want to debit the total amount. here I am paying in cash.
- Now on terms and conditions tick on RTGS option.
- Next, you need to enter your details like name, address, PAN number, Phone Number, email ID (if any). Purpose of Remittance you can fill the reason if not fill only personal.
- Do your signature.
- Next, there is the Acknowledgement option to fill .fill exactly the same details as above and submit it to the bank. No need to fill 2nd page that is for Bank use and for Demand Draft.
- keep the acknowledgement receipt safe for any future reference.
IDBI Bank RTGS Transfer Rates
The inward transaction is free in IDBI Bank RTGS transfer.
|Outward Transactions Amount||Charges|
|Rs. 2 lakhs to Rs. 5 lakhs||Not More than Rs. 30 per transaction|
|Above Rs. 5 lakhs||Not more than Rs. 55 per transaction|
IDBI Bank RTGS Transfer Timings
|Transfer Days||Transfer Time|
|Monday to Friday (Weekdays)||9:00 AM to 4:15 PM|
|On Saturdays||9:00 AM to 1:00 PM|
Benefits of Using RTGS
- It is fast as transaction settlement happens instantly.
- Hassle-free large amount settlement.
- RTGS is safe and secure way to transfer funds of large amount.
- RTGS form is easily available online as well as in any branch.
You have learned how to fill the IDBI Bank RTGS form step by step. I hope the above information is clear to you.
if there is any question regarding this information do ask in the below comment section. I will be happy to answer them.