In This Article We Know HDFC Bank RTGS Form, RTGS Charges In HDFC, HDFC Bank RTGS, Benefits Of HDFC RTGS, HDFC Bank RTGS Charges, HDFC RTGS Timing, HDFC RTGS Process 2023, HDFC
Bank RTGS 2023: Designed for substantial transactions, the RTGS system has a minimum transfer amount of Rs 2 lakh and a daily maximum limit of Rs 10 lakh. Operating on the Real Time Gross Settlement, it stands as the swiftest money transfer mechanism in the banking sector. Real-time settlements eliminate waiting periods, ensuring prompt transactions. For further information on HDFC Bank RTGS, explore the details below.
Contents
- 1 What Is RTGS?
- 2 Benefits Of HDFC RTGS
- 3 Minimum And Maximum HDFC RTGS Amount
- 4 HDFC RTGS Form
- 5 HDFC Bank RTGS Charges
- 6 HDFC RTGS Timing
- 7 HDFC RTGS Process 2023
- 8 Adding a beneficiary for RTGS involves the following steps:
- 9 Steps to initiate your RTGS funds transfer:
- 10 Required Information For RTGS
- 11 When is the credit received by the beneficiary for an RTGS transaction?
- 12 What is the difference between RTGS and NEFT?
- 13 Benefits Of HDFC RTGS
- 14 FAQ?: HDFC Bank RTGS
What Is RTGS?
Real-Time Gross Settlement (RTGS) is a nationwide payment system that enables direct funds transfer between individuals. Within this framework, individuals can electronically transfer funds from any bank branch to another individual with an account at any participating bank branch across the country.
Benefits Of HDFC RTGS
- Benefits Of HDFC RTGS: HDFC offers real-time speed transfers
- No geographical limitations within India, providing wider boundaries
- Convenient fund transfers from the comfort of your home or office
Minimum And Maximum HDFC RTGS Amount
- Minimum RTGS transaction amount: Rs. 2 Lakh
- No upper ceiling for RTGS transactions through Branch
- For RTGS transactions via NetBanking, the maximum daily transfer per Customer ID is Rs. 25 Lakh
HDFC RTGS Form
HDFC Bank RTGS Form Download: Click Now
HDFC Bank RTGS Form
HDFC Bank RTGS Charges
| Mode of Transaction | Charges |
|---|---|
| Online modes (internet banking, Mobile app) | No Charges |
| Through branches | |
| ₹2 lakh up to ₹5 lakh | ₹25 + taxes |
| ₹5 lakh and above | ₹50 + taxes |
HDFC RTGS Timing
- HDFC RTGS Timing: Online Transaction Timings: Available 24 Hours
- Transaction through Branches: HDFC RTGS Timing, As per Branch working Hours
HDFC RTGS Process 2023
There are two methods to initiate RTGS payments:
- RTGS via Online Internet Banking:
- Begin by adding a beneficiary for RTGS.
- Proceed to make the funds transfer online.
- Ensure that both NetBanking and Third Party Funds Transfer facilities are enabled. If not registered, complete the form at your nearest HDFC Bank branch.
- RTGS via Bank Branch:
- If you prefer offline mode through a Bank Branch, visit your nearest HDFC Bank Branch.
- Request an RTGS Form or Slip and fill in all the required details.
- Submit the completed form to the cashier, and your bank branch will process the payment to the recipient in real-time.
Adding a beneficiary for RTGS involves the following steps:
- Step 1: Log into HDFC Bank NetBanking using your Customer ID and Password
- Step 2: Go to the Funds Transfer tab
- Step 3: Click ‘Add a Beneficiary’ and select Beneficiary Type as ‘Transfer to other bank’
- Step 4: Enter the beneficiary account details or Credit card number
- Step 5: Select the Beneficiary’s IFSC, using the bank and branch name
- Step 6: Click ‘Add’, then ‘Confirm’
- Step 7: Authenticate yourself at the secure access step and wait for your confirmation message
Steps to initiate your RTGS funds transfer:
- Step 1: Navigate to the Funds Transfer tab and choose ‘Transfer to other bank (RTGS)’
- Step 2: Select the account, beneficiary, and input the necessary details
- Step 3: Agree to the Terms and Conditions
- Step 4: Review the details, and if everything is accurate, confirm to finalize the process
Kindly be aware of the following:
- The beneficiary activation takes 30 minutes (for security reasons) and can be viewed in the “View Beneficiary” option of the Enquire Section.
- RTGS transactions are only possible 24 hours after the beneficiary activation.
- An added beneficiary, with no funds transferred for over 24 months, is considered a new beneficiary in all respects.
- A maximum of 7 beneficiaries can be added/modified/deleted within a 24-hour period.
Required Information For RTGS
When utilizing RTGS Funds Transfer, it’s crucial to furnish the following essential details:
- Amount to be remitted
- Remitting customer’s account number for debit
- Name of the beneficiary bank and branch
- Name of the beneficiary customer
- Account number of the beneficiary customer
- Sender to receiver information, if any
- The IFSC number of the receiving branch
When is the credit received by the beneficiary for an RTGS transaction?
Typically, the beneficiary branches are anticipated to receive the funds in real time immediately after the remitting bank initiates the transfer. The beneficiary bank is required to credit the beneficiary’s account within 30 minutes upon receiving the funds transfer message.
Is the remitter refunded if an RTGS transaction is not credited to the beneficiary account?
Certainly. In the event that the beneficiary’s bank cannot credit the beneficiary’s account for any reason, the funds will be returned to the remitting bank within 1 hour. Upon receipt of the amount, the remitting bank credits it to the remitter’s account through the respective branch.
What is the difference between RTGS and NEFT?
- RTGS (Real Time Gross Settlement) and NEFT are RBI-facilitated online funds transfer mechanisms among member banks.
- Since November 15, 2010, following RBI guidelines, RTGS is applicable for transactions of Rs.2,00,000/- and above.
- For transactions below Rs.2,00,000/-, NEFT should be employed as per RBI guidelines.
Benefits Of HDFC RTGS
- HDFC Bank RTGS is available to all Net banking users, both existing and new.
- The RTGS facility is simple, convenient, quick, and secure, enabling users to transfer funds seamlessly to beneficiaries in other banks.
- HDFC Bank RTGS allows customers to initiate transactions anytime, anywhere, providing a simple and easy-to-operate platform from the comfort of home or office.
- It is a cost-effective option, with lower fees compared to traditional modes of remittance like DD/MT.
FAQ?: HDFC Bank RTGS
NEFT transactions through HDFC’s net banking or mobile banking channels are complimentary. Nevertheless, the subsequent charges are applicable when conducting NEFT transfers offline through a bank branch:
Up to Rs. 1,00,000: Rs. 2 + GST
Above Rs. 1,00,000: Rs. 10 + GST
HDFC Bank allows NEFT transactions up to Rs. 25 lakhs through net banking and mobile banking. If customers wish to transfer amounts exceeding this limit, they can visit the nearest bank branch for the transaction.
Both IMPS and NEFT incur no charges when conducted online through HDFC Bank’s net banking or mobile banking. However, when using a bank branch for either method, certain charges apply. In offline mode, IMPS may be slightly more expensive than NEFT.
NEFT services at HDFC Bank are accessible during the following hours: Monday to Friday and Working Saturday – from 7 AM to 7 PM on bank working days.