Customers having their savings or current account in IDBI Bank can use the RTGS mode of transfer for electronically sending funds to any other bank account. This can be done online or at the bank. If you’re choosing to do the RTGS transaction at the bank, you will need IDBI RTGS form.
Scroll further to download IDBI RTGS form and get details about the same.
IDBI RTGS Form Download
To download IDBI RTGS form in PDF format, simply click on the button given below. The form will automatically get downloaded in your device, be it a computer or a mobile phone. Another way is to go to the bank and get the IDBI RTGS form there itself.
Please note that IDBI Bank has the consolidated form for NEFT, RTGS and Demand Draft.
How to Fill IDBI RTGS Form
To fill an IDBI Bank RTGS form, you must have the following details with you:
- Branch name
- Beneficiary’s name, address, A/c number, account type, bank name and IFSC
- Commission (refer the RTGS charges section below)
Other details that you’ll be filling in the IDBI RTGS form are:
- Date of submission
- Signature of the applicant
- Check box for RTGS
- Amount to be transferred (in words and figures, both)
- Details of cash remitted (if paying via cash) or cheque number
IDBI RTGS Charges
The following are the IDBI Bank RTGS charges, i.e. the commission charged by the bank on processing the RTGS request:
- Amount of Rs 2 lakhs to Rs 5 lakhs: Rs 30 per transaction
- Amount above Rs 5 lakhs: Rs 55 per transaction
The above mentioned charges are the maximum the bank can charge for RTGS transactions.
IDBI RTGS Timings
IDBI RTGS timings for outward transactions are mentioned below:
- Monday to Friday: 9AM to 4:15PM
- Saturdays: 9AM to 1PM
If you wish to carry out the RTGS transaction at your IDBI branch, please check the IDBI Bank timings beforehand.
Why Choose RTGS?
The following are the benefits that answer the question of why you should choose RTGS for your transactions greater than Rs 2 lakhs:
- Instant transfers funds between bank accounts. This means that the recipient’s account is credited with the transferred funds in real-time.
- RTGS is a secure way to transfer funds between banks as it is regulated by the central bank of the country. The transactions are settled in real-time, which reduces the risk of fraud and errors.
- RTGS is typically used for high-value transactions, as there is no limit on the amount that can be transferred. This makes it ideal for transactions such as large payments or investments.
- The RTGS system is transparent as both the sender and the receiver of funds can track the status of the transaction. This makes it easier to identify any errors or issues with the transfer.
- RTGS can be less expensive than other forms of fund transfers, especially for high-value transactions. This is because the fees charged for RTGS are generally lower than those for other methods such as wire transfers or cheques. IDBI charges a fee of Rs 30 or Rs 55 per transaction basis the amount.
Overall, RTGS offers a secure, efficient, and cost-effective way to transfer funds between banks, making it an ideal solution for high-value transactions.
Visit the following links to know more about RTGS Form of different Bank’s:
IDBI RTGS Form: FAQs
Yes. Click here to download IDBI RTGS PDF form. Alternatively, you will get this form at an IDBI branch as well.
Yes. IDBI provides the option to do RTGS transaction online vie IDBI netbanking.
You can transfer an amount of minimum Rs 2 lakhs using IDBI RTGS. There is no upper limit set by the RBI for RTGS transactions.
For amount up to Rs 5 lakhs, IDBI chares Rs 30 per transaction. For any amount more than Rs 5 lakhs, IDBI charges Rs 55 per transaction for RTGS.
