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Bank of India RTGS Form

Home Banking in India Bank of India RTGS Form

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Updated: 18-07-2024 09:46:29 AM

Both private and nationalised banks provide interbank fund transfer facility in India; RTGS and NEFT are the main interbank fund transfer options in the country. Around 45000 bank branches facilitate RTGS in the country that takes place continuously through business hours. An applicant can fill Bank of India RTGS form to make transactions directly to other bank accounts.

 

As per Reserve Bank of India guidelines, the amount paid through RTGS should reach the beneficiary bank account within 30 minutes of initiation of the process. If for any reason, the balance cannot be credited in the bank account, the same must be returned to the sender account within 2 hours. Filling the Bank of India RTGS form makes the processing simple and time-saving for the applicant. This ensures that all the required information is available to both parties in one place.

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How to Fill Bank of India RTGS Form
Bank of India RTGS Limits
Important Points Related to Bank of India RTGS Form

How to Fill Bank of India RTGS Form

The below-mentioned details need to be filled up in the Bank of India RTGS form:

Bank of India RTGS Form

(Image Source: Bank of India)

  • Payment Information
    • Amount to be remitted
    • Cheque number if the money is paid via cheque
  • Remitter Information
    • Title of account
    • Contact number
    • Type of account (savings/ current/ cash credit/ overdraft)
  • Beneficiary Information
    • Name
    • IFSC code
    • Bank name
    • Branch address
    • Type of account
    • Account number

Bank of India RTGS form is editable and fillable online. Applicants can download, take a print and submit the hard copy at the bank branch to initiate the RTGS transaction. The form can be uploaded online to initiate the RTGS transaction via net banking and mobile banking.

Bank of India RTGS Limits

Bank of India permits RTGS on minimum Rs 2 lakhs and maximum Rs 25 lakhs in a day if the transaction is carried out at the branch. If the RTGS is done through mobile banking or net banking, the upper ceiling is Rs 5 lakhs.

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Important Points Related to Bank of India RTGS Form

Bank of India RTGS form has some terms and conditions which the applicant need to check and adhere in order to initiate the transition. These include:

  • If the beneficiary bank is a participant in the RTGS process, then only the transaction can be processed; else it will be rejected
  • If the details entered are incorrect and for this reason, the payment is delayed or made in the incorrect account, the bank will not be liable for the same
  • In order to initiate an online RTGS, the sender must add the beneficiary by logging in the Star Connect Internet Banking services
  • After making the payment on net banking or mobile banking, the sender can check the status under RTGS payment option
  • In this payment mode, the applicant can fill the Bank of India RTGS form online and submit it
  • If paying through the branch, the sender has the option to fill-up the form either in English or Hindi. Some local branches might even have RTGS forms in regional languages
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