Central Bank of India RTGS Form

[nikhilchauhan]

Central Bank of India is a public sector bank which provides various options for various fund transfer

Mainly there are 3 ways in which you can make electronic payments with the Central Bank Of India - RTGS, NEFT, and IMPS. Before moving forward, it's important to understand the differences between the 3 modes:

Type of Transfer	NEFT	IMPS	RTGS
Speed of settlement	Real-Time	Real-Time	Real-Time
Maximum Transfer Value	Rs.50,000 (Offline) NIL (Online)	Rs.5,00,000	NIL (Offline) Rs.5,00,000 (Online, Individuals) Rs.100,00,00,000 (Online, Corporate)
Minimum Transfer Value	Re.1	No Limit	Rs. 2,00,000
Charges	Rs.2.50 (Upto Rs.10,000) Rs.5 (10,000-1,00,000) Rs.15 (1,00,000-2,00,000) Rs.25 (Above Rs.2,00,000)	Rs.3-5 (Upto Rs.10,000) Rs.5-7 (10,000-1,00,000) Rs.10-15 (1,00,000-2,00,000) Rs.15-20 (2,00,000 - 5,00,000)	Rs.25-30 (2,00,000-5,00,000) Rs.50-55 (5,00,000 and above)
Timing	Bank working hours	24x7, 365 Days	24x7, 365 Days

RTGS/NEFT/IMPS Transfer with Central Bank of India:

There are two ways to initiate an RTGS / NEFT/ IMPS transfer with Central Bank of India:

1. Offline submission /In Branch Request (FOR RTGS/NEFT)
2. Mobile Banking (FOR RTGS /NEFT /IMPS).

OFFLINE SUBMISSION /IN-BRANCH REQUEST

Step 1: Download and Complete the Form

• Download the attached NEFT/RTGS form (in PDF format). This same form will be provided to you if you choose to initiate the transfer through an in-branch request. We have attached a copy of the same form to this post for your ease.
• Print a clear copy of the downloaded form.
• Fill out the form completely and accurately. How to fill up the form is mentioned below

How to Fill up the Form? (Remember to fill the form in Black Ink and CAPITAL LETTERS)

• Start by writing today’s date in the top right corner and the branch name on the left side.
• Now, write the amount to be transferred to both figures and words and also select if you want to pay by cash or cheque.
• In the box below, write your details on the left side which include your name, account number, type, customer identification, address, mobile number, email and PAN number.
• On the right side, write the beneficiary IFSC code, bank, branch, account number, type, name, and mobile number.
• You have to provide your and the beneficiary’s LEI number for Rs.50,00,00,000 and more of the transaction.
• Now, read and recheck all the terms and conditions and declaration.
• Once you’re satisfied, sign the form.

Step 2: Submit the Form at Your Branch

• Visit your nearest Central Bank of India branch.
• Submit the completed NEFT/RTGS form along with any required identification documents to a bank teller or customer service representative.
• Once your request is processed, the funds will be transferred to the beneficiary's account.

Mobile Banking (Central Bank of India Mobile App)

• Login into your mobile application using your MPIN or username.
• Now, under the payments/fund transfer select the fund transfer option.
• Select the account you want to transfer funds from and the account you want to transfer the money (Self/Within Bank/Other Bank).
• Now, add the beneficiary account details under add beneficiary details such as account number, IFSC, type, and others. You can also apply a limit.
• After adding the beneficiary, select it and enter the amount, remarks, transfer mode (IMPS/NEFT/RTGS) and transaction password. You can also schedule the payment as needed.
• Proceed and reconfirm the details.
• After confirming, the amount will be transferred.

Conclusion - When to use what?

• For urgent, high-value transfers: Use RTGS if speed is critical, and the amount is substantial. Be aware of minimum transfer limits and potential fees.
• For routine transfers and bill payments: NEFT is a convenient and cost-effective option for transfers within India, although it's not real-time.
• For small, urgent transfers: IMPS is ideal for immediate transfers of smaller amounts, even on holidays. Be mindful of potential maximum limits and fees.