arjungoyal12
KF Mentor
South Indian Bank provides electronic payment options for the Indian market.
Mainly there are 3 ways in which you can make electronic payments with South Indian Bank - RTGS, NEFT, and IMPS. Before moving forward, it's important to understand the differences between the 3 modes;
RTGS/NEFT/IMPS Transfer with South Indian Bank:
There are two ways to initiate an RTGS / NEFT/ IMPS transfer with South Indian Bank:
Step 1: Download and Complete the Form
Step 2: Submit the Form at Your Branch
Mainly there are 3 ways in which you can make electronic payments with South Indian Bank - 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 | NIL | Rs.2,00,000 | NIL |
| Minimum Transfer Value | NIL | No Limit | Rs. 2,00,000 |
| Charges | Rs. 1.25 (Up to 10,000) Rs. 2.50 (10,000-1,00,000) Rs. 7.50 (Rs.1,00,000 - 2,00,000) Rs. 12.50 (Above Rs.2,00,000) | NIL (Up to 1,000) Rs. 5 (1,000-1,00,000) Rs. 15 (1,00,000-2,00,000) | Rs. 12.50 (2,00000-5,00,000) Rs. 25 (Above 5,00,000) |
| Timing | 07:00-17:50 (All Bank Working Days) | 24x7, 365 Days | 07:00-17:50 (All Bank Working Days) |
RTGS/NEFT/IMPS Transfer with South Indian Bank:
There are two ways to initiate an RTGS / NEFT/ IMPS transfer with South Indian Bank:
- Offline submission /In Branch Request (FOR RTGS/NEFT)
- Mobile Banking (FOR RTGS /NEFT /IMPS).
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
- Firstly, write today’s date and your PAN number in the top right corner.
- Now, start from the left and write your branch name, select the fund transfer method(NEFT/RTGS), and amount(in both figures and words), and select whether you are paying by cash or cheque.
- Enter your details including your account number, cheque number, cheque date, your name, address, and mobile number.
- Fill in the beneficiary details which include his/her name, account number, bank name, IFSC, branch address, and remarks if any.
- Go through every detail you wrote and also the terms and conditions and the declaration to be sure.
- Now, sign the form.
Step 2: Submit the Form at Your Branch
- Visit your nearest South Indian Bank 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.
- Log on to your South Indian Bank Mobile Application using a password and click on the fund transfer button which is next to the home button on the home screen.
- Now, click on the Transfer Instantly option, select your bank account, and enter the beneficiary account number, name, IFSC, fund transfer option, amount, and remarks if any.
- You can also save the beneficiary to your list for future transfers.
- Click on confirm, recheck, and complete the transaction using MPIN.
- Your funds will be transferred instantly.