Real Time Gross Settlement, or RTGS, is a continuous money transfer system that does individual transactions rather than ones in batches. In this guide, you will find everything regarding the IndusInd Bank RTGS form, along with other related information.
information.
| Form Type | RTGS/NEFT Form |
| Bank Name | IndusInd Bank |
| Official Website | IndusInd Bank Official Website |
| Language | English |
| Uses of Form | Online fund transfer |
| Minimum Limit | ₹2 lakhs |
| Maximum Limit | NIL |
| Beneficiary | Bank account holders and non-customers |
| IndusInd Bank RTGS Form PDF | IndusInd Bank RTGS Form PDF |
What Is IndusInd Bank RTGS?
Real Time Gross Settlement or RTGS is a continuous money transfer method in which each transaction happens individually instead of in slots. Both bank account holders and non-customers can conduct RTGS transactions with the bank.
What Is IndusInd Bank NEFT?
The acronym NEFT stands for National Electronic Funds Transfer. IndusInd Bank NEFT is an electronic payment system that allows people, businesses, and organisations to transfer payments from one bank account to another.
NEFT transactions are settled hourly and processed in batches, over the course of the day. It is a safe and convenient way to transfer money that is frequently used for a variety of reasons, including salary payments, bill payments, and online purchases.
How to Download the IndusInd Bank RTGS Form?
To download the IndusInd Bank RTGS form, follow these steps:
- Step 1: On your browser, search for “IndusInd Bank RTGS Form”
- Step 2: In the search results, choose the official website’s PDF link and download it.
How to Download IndusInd NEFT Form in PDF Format?
The RTGS form can be used for NEFT transfers as well. Follow the same steps for downloading the IndusInd Bank RTGS form that we mentioned above.
How to Fill the IndusInd Bank RTGS Form?
The IndusInd Bank RTGS transaction allows account holders to make direct and quick payments with cheques, pay orders, and demand drafts. You can make online RTGS payments by following these steps:
- Step 1: Start by entering your account details including your account number, bank name, and branch name.
- Step 2: Enter the amount you want to transfer.
- Step 3: Enter your RTGS reference number.
- Step 4: Enter the beneficiary’s account information, including bank name, account number, and branch name.
- Step 5: Enter the beneficiary’s address, name, and contact information.
- Step 6: Provide your signature and full name.
- Step 7: Attach all required documents and submit the form to the bank.
Documents Required Along with IndusInd RTGS Form
The IndusInd Bank RTGS form contains full details, terms, and conditions for the RTGS payment system. As a result, all individuals can conduct RTGS transactions at any of the IndusInd branches, which makes it more convenient.
Although you may not be required to provide any additional paperwork for making a payment through this, you will have to provide details like:
- Beneficiary’s bank name
- Account number of your beneficiary
- Beneficiary’s bank branch address
- IFSC code of the beneficiary’s bank branch
- Payment type and customer type
- Mobile number and email ID if a beneficiary is a non-customer
- Cheque number in case of cheque deposit
IndusInd Bank RTGS/NEFT Timings
Based on RBI guidelines, the Real Time Gross Settlement (RTGS) facility is now available 24/7 which has been effective since December 14, 2020. You can initiate RTGS payments at IndusInd Bank branches and via their digital banking channels, IndusNet (Retail Internet Banking Portal) and IndusDirect (Corporate Internet Banking Portal).
- RTGS Timings
| Payment Process | Days | Timings |
| In Bank’s Branches | Monday to Saturday (except 2nd and 4th Saturday and bank holidays) | 8 AM to 4.30 PM |
| Via IndusNet | All days | Any time of the day |
| IndusDirect | All days | Any time of the day |
- NEFT Timings
| Days | Timings |
| Monday to Saturday (except 2nd and 4th Saturday and bank holidays) | 8 AM to 7 PM |
IndusInd Bank RTGS and NEFT Charges
Here are all the NEFT charges of IndusInd Bank along with the RTGS charges through branches:
| RTGS Amount | Transaction Service Charges (Excluding GST) |
| ₹2 lakhs & up to ₹5 lakhs | ₹25/transaction |
| Above ₹5 lakhs | ₹50/transaction |
| NEFT Amount | Transaction Service Charges (Excluding GST) |
| Up to ₹10,000 | ₹2.50/transaction |
| Above ₹10,000 to ₹1 lakhs | ₹5/transaction |
| Above ₹1 lakh to ₹2 lakhs | ₹15/transaction |
| Above ₹2 lakhs | ₹25/transaction |
| Above ₹5 lakhs | ₹50/transaction |
What Happens if IndusInd Bank RTGS Transaction Is Not Processed on Time?
Occasionally, a transaction may fail to proceed and end up being stopped, even if it began within the specified bank timings. This could happen for a variety of reasons, such as wrong beneficiary details, a restricted account, or an inaccurately written IFSC code. If an RTGS transaction debits your account, the funds will be repaid to you within 2 hours or before the RTGS closing time, whichever happens sooner.
Final Word
The best way to transfer larger amounts is through IndusInd Bank RTGS. According to RBI requirements, the RTGS transfer must reach the account of the recipient within 30 minutes of the transfer being initiated. If the transaction fails, the funds must be refunded to the sender’s account. Considering that now you understand how to obtain and complete an IndusInd Bank RTGS form in addition to NEFT, you can initiate payments seamlessly.
FAQs
No, you cannot transfer or receive money from any other mobile number other than the one registered with IndusInd Bank.
Yes, the IMPS feature is only available to active IndusInd Bank
If the money is debited but the transaction fails, it will be automatically credited to the sender’s account within a few hours.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
