SBI NEFT Form : Download / Print

By | July 5, 2018
(Last Updated On: July 24, 2018)

SBI NEFT Form 

Download State Bank of India –  SBI Bank NEFT Application Form in PDF Format. SBI neft Forms , Download SBI Bank NEFT Form in PDF Format, Download SBI NEFT Form in PDF Format ,Download Latest & Updated SBI Bank  NEFT Form in PDF format , Request form of  NEFT for SBI  Bank, Download SBI Bank neft Pay Slip in PDF. Just input the details of name of Branch, Amount to be remitted and details of Remitter and beneficiary. Now scroll down below Download SBI Bank NEFT Form in PDF Format.

Download SBI NEFT Form in English.

Download SBI RTGS Form in English.

SBI NEFT Form

SBI RTGS / NEFT – FAQ

1. What is Inter Bank Transfer?

Inter Bank Transfer enables electronic transfer of funds from the account of the remitter in one Bank to the account of the beneficiary maintained with any other Bank branch. There are two systems of Inter Bank Transfer – RTGS and NEFT. Both these systems are maintained by Reserve Bank of India.

 2. What is the minimum/maximum amount for RTGS / NEFT transactions under Retail Internet Banking?

Minimum / Maximum amount for RTGS / NEFT transactions under Retail Internet Banking
TypeMinimumMaximum
RTGSRs. 2 LakhsRs. 10 Lakhs
NEFTNo MinimumRs. 10 Lakhs

3. What is the minimum/maximum amount for RTGS / NEFT transactions under Corporate Internet Banking?

Minimum / Maximum amount for RTGS / NEFT transactions under Corporate Internet Banking
TypeMinimumMaximum
RTGSRs.2 LakhsRs.50 lakhs for Vyapaar and
Rs.500 crores for Vistaar
NEFTNo MinimumRs.50 lakhs for Vyapaar and
Rs.500 crores for Vistaar

4. When does the beneficiary get the credit for a RTGS payment?

Under normal circumstances the beneficiary Bank branch receives the funds in real time as soon as funds are transferred by the remitting Bank. The beneficiary Bank has to credit the beneficiary’s account within two hours of receiving the funds transfer message.

5. When does the beneficiary get the credit for a NEFT payment?

As stated above, NEFT operates in half hourly batches. Currently there are twenty three settlements from 8 am to 7 pm on all working days including working Saturdays. Therefore, the beneficiary can expect to get the credit for the transactions put through between 8 am to 5.30 pm on all working days including working Saturdays on the same day. For transactions settled in the 6.30 and 7 pm batches on all working days including working Saturdays, the credit will be afforded either on the same day or on the next working day.

6. If an RTGS transaction is not credited to the beneficiary account, does the remitter get back the money?

Yes. If the beneficiary’s bank is unable to credit the beneficiary’s account for any reason, the former will return the money to the remitting bank within 2 hours. Once the amount is received by the remitting bank, it is credited to the remitter’s account by the branch concerned.

7. If an NEFT transaction is not credited to a beneficiary account, does the Remitter get back the money?

Yes. If the beneficiary’s bank is unable to credit the beneficiary’s account for any reason, the former will return the money to the remitting bank within 2 hours of completion of the batch in which the transaction was processed. Once the amount is received by the remitting bank, it is credited to the remitter’s account by the branch concerned.

8. At what time during the day/week the RTGS & NEFT services are available?

RTGS transactions are sent to RBI as per the following schedule:
DayStart TimeEnd Time
Monday to Working Saturday8:00 hrs16:00 hrs

 

NEFT transactions will be sent to RBI based on the following schedule:
DayStart TimeEnd Time
Monday to Working Saturday7:00 hrs18:30 hrs

RBI NEFT transactions are settled in batches based on the following timings:

  • 23 settlements on all working days including working Saturdays:- at 08:00, 08:30, 09:00, 09:30, 10:00, 10:30, 11:00, 11:30, 12:00, 12:30, 13:00, 13:30, 14:00, 14:30, 15:00, 15:30, 16:00, 16:30, 17:00, 17:30, 18:00, 18:30 and 19:00 hrs.

Please note that all the above timings are based on Indian Standard Time (IST) only.

9. What are the security measures/steps to be adopted while using Mobile OnlineSBI?

For effecting an RTGS / NEFT remittance the remitter has to furnish the following information:

  • Amount to be remitted.
  • Remitting customer’s account number which is to be debited.
  • Name of the beneficiary bank.
  • Name of the beneficiary.
  • Account number of the beneficiary.
  • Sender to receiver information, if any.
  • IFSC code of the destination bank branch.

 10. How to find the IFSC code of the beneficiary branch?

In Onlinesbi, the remitter has the option of selecting the location of the destination Bank Branch in case the IFSC code is not known. If the correct values are selected for Bank, State and Branch, the IFSC code is automatically updated.

11. Do all bank branches in India provide RTGS & NEFT services?

No. RTGS and NEFT services are enabled only in specific bank branches across the country. A list of such RTGS / NEFT enabled branches can be obtained from the RBI website, http://rbidocs.rbi.org.in/rdocs/RTGS/DOCs/RTGEB1110.xls for RTGS and http://www.rbi.org.in/scripts/neft.aspx for NEFT.

12. How do I go about using this service?

  • Avail Internet Banking facility for your account with transaction rights. Contact your SBI branch for the purpose.
  • Log on to www.onlinesbi.com using Internet Banking ID and Password.
  • Access the Profile tab and click on the Manage Beneficiary link.
  • Select Inter Bank Payee from the options provided.
  • Select ‘Add’ option and provide the Beneficiary Name, Beneficiary Account Number, Address and Inter Bank Transfer Limit in the relevant fields.
  • Enter the IFSC code of the beneficiary bank branch by either:
    • Selecting the IFSC code option and entering 11 digit IFSC code in the textbox.
    • Selecting the Location option and then the Beneficiary Bank, State and Branch form the drop down menus provided.
  • Click the ‘accept Terms of Service (Terms & Conditions)’ button followed by ‘confirm’.
  • A high security password is sent to the mobile number as an additional security measure. Enter this password to authorize the beneficiary.
  • The beneficiary added is activated in a maximum of 16 hrs. time. Once activated you can transfer funds to the beneficiary.
  • To remit funds to the Inter Bank Payee through RTGS / NEFT select the ‘Inter Bank Transfer’ link in the ‘Payments/Transfers’ tab.
  • Select the Transaction Type – RTGS or NEFT.
  • The list of beneficiary accounts added is displayed.
  • Enter the Amount and select the beneficiary to be credited from the list.
  • Click on ‘accept Terms of Service (Terms & Conditions)’ and confirm.

 13. What are the service charges applicable for SBI RTGS / NEFT transactions?

  • Charges for RTGS / NEFT are as listed in the following table:
NEFT Transactions
Amount (in Rs.)Existing Charges for Branch
(exclusive of service tax)
Rate for INB Channel
(exclusive of service tax)
Upto Rs.10,000/-Rs.2.50/-Rs.2/-
From 10,001/- to 1 lacRs.5/-Rs.4/-
Above 1 lac up to 2 lacRs.15/-Rs.12/-
Above 2 lacRs.25/-Rs.20/-
RTGS Transactions
Amount (in Rs.)Existing Charges for Branch
(exclusive of service tax)
Rate for INB Channel
(exclusive of service tax)
From 2 lac to 5 lacRs.25/-Rs.20/-
Above 5 lacRs.50/-Rs.40/-

 14. Whom I can contact, in case of non-credit or delay in credit to the beneficiary account for NEFT transaction?

Please contact your bank/branch or the destination bank/branch or the Customer Facilitation Service Centre of the banks.


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