• This facility is available to both individuals and companies
• It is an electronic mode of payment, maintained and operated through the RBI
• The bank is instructed to transfer funds from their account to another bank account anywhere in India. As the name suggests, the funds are transferred on a 'real time basis' to the beneficiary's account instantly
• The beneficiary's bank has the responsibility to credit the amount to the account on the same day of the settlement period. If any returns take place, they are credited back to the account on the same day
• Only in the case of NEFT transfer, the funds could be returned on the next day depending upon the settlement time. RTGS and NEFT avoid the cumbersome process of cheque movement and clearance which begins after 2 days
• For transactions involving 2 lakhs INR and above, the funds are transferred through RTGS and any amount less than 2 lakhs INR transferred through NEFT
• For all settlement of funds, there is an electronic form of acknowledgement received from RBI, which could be forwarded to you for the purpose of updating records
• Rates, fees and charges, wherever applicable, are subject to change without prior notice. The latest schedules of fees are available upon request at our branches in India and are also displayed here

All you need to do is forward us your request (by filling up the form or through Internet banking) along with the beneficiary details, such as

• Name of beneficiary
• Account number of the beneficiary (Please ensure that the account number is correct.)
• Purpose
• Name of the bank and branch for crediting the funds
• IFSC code of the branch
• Amount to be transferred