The RTGS form from South Indian Bank is a single application that can be used for both NEFT and RTGS transfers. A continual money transfer method that manages individual transactions as opposed to batches is called Real Time Gross Settlement, or RTGS. In this blog, you will find everything about the South Indian Bank RTGS form, along with additional related details.
| Form Type | RTGS/NEFT Form |
| Bank Name | South Indian Bank |
| Official Website | https://www.southindianbank.com/ |
| Language | English |
| Uses of Form | Online fund transfer via RTGS and NEFT |
| Minimum Limit | ₹2 lakhs |
| Maximum Limit | NIL |
| Beneficiary | South Indian Bank account holders and non-customers |
| South Indian Bank RTGS Form PDF | South Indian Bank RTGS Form PDF |
What Is South Indian Bank RTGS?
The South Indian Bank RTGS form is suitable for both RTGS and NEFT transfers. The bank supports RTGS payments from both bank account holders and non-customers. Rather than processing transactions in batches, RTGS or Real Time Gross Settlement is a continuous money transfer method that allows individual transactions.
What Is South Indian Bank NEFT?
South Indian Bank NEFT is a system of electronic payments that enables companies, individuals, and organisations to send money across bank accounts. NEFT transactions are processed in batches during the day after being paid hourly. It is a widely utilised, safe, and practical method of money transfer for several purposes, such as paying bills, making internet purchases, and receiving salary payments.
How to Download South Indian Bank RTGS Form?
To obtain the South Indian Bank RTGS form, take the following steps:
- Step 1: In your web browser, type “South Indian Bank RTGS Form”.
- Step 2: From the search results, select the official website’s PDF link to download it.
You may download the South Indian Bank RTGS form using this simple technique, or you can use the link provided in the table at the beginning of this blog.
How to Download South Indian Bank NEFT Form in PDF Format?
The RTGS form can also be used to initiate NEFT transactions. To get the South Indian Bank RTGS form, repeat the processes outlined above.
How to Complete South Indian Bank’s RTGS Form?
South Indian Bank’s RTGS transaction enables account holders to make direct and speedy payments. To make online RTGS payments, follow these steps:
- Step 1: To get started, enter the bank name and branch name.
- Step 2: Specify the amount you wish to transfer.
- Step 3: Enter the account details of the recipient information, such as bank name, branch name, account number, and IFSC code.
- Step 4: Fill in the beneficiary’s name, location, and contact details.
- Step 5: Enter the remitter’s name, account number, and IFSC code.
- Step 6: Enter your signature along with your complete name.
- Step 7: Attach any relevant documents (if requested by the bank) and send the form to the bank.
How to Fill South Indian Bank NEFT Form?
The South Indian Bank RTGS form can be used for NEFT transfers as well. So, refer to the RTGS form fill-up steps above for this.
Documents Required Along with South Indian Bank RTGS Form
Both bank clients and non-customers can initiate RTGS payments at any South Indian Bank branch, making them more convenient. To make payments using this method, you must provide the following information:
- Beneficiary’s bank name and account number
- Branch address
- Cheque number
- Contact information
- Payment type
- Customer type
South Indian Bank RTGS/NEFT Timings
Have a glance at the below table to get a clear idea about RBL Bank RTGS or NEFT Timings.
1. RTGS Timings
| Payment Process | Days | Timings |
| In Bank’s Branches | Monday to Saturday (except 2nd and 4th Saturday and bank holidays) | 7 AM to 5.50 PM |
2. NEFT Timings
| Days | Timings |
| Monday to Saturday (except 2nd and 4th Saturday and bank holidays) | 7 AM to 5.50 PM |
South Indian Bank RTGS and NEFT Charges
Here are all the NEFT charges of South Indian Bank along with the RTGS charges through branches:
| RTGS Amount | Transaction Service Charges (Excluding GST) |
| ₹2 lakhs & up to ₹5 lakhs | ₹12.50/transaction |
| Above ₹5 lakhs | ₹25/transaction |
| NEFT Amount | Transaction Service Charges (Excluding GST) |
| Up to ₹10,000 | ₹1.25/transaction (NIL for SIB accounts) |
| Above ₹10,000 to ₹1 Lakhs | ₹2.50/transaction (NIL for SIB accounts) |
| Above ₹1 lakh to ₹2 lakhs | ₹7.50/transaction (NIL for SIB accounts) |
| Above ₹2 lakhs | ₹12.50/transaction (NIL for SIB accounts) |
What Happens If an RTGS Transaction from South Indian Bank Is Not Completed on Time?
A transaction might not proceed and eventually end even if it has not been initiated within the specified bank hours. This could be due to inaccurate recipient information, a limited account, or a wrong IFSC code. If an RTGS payment transaction debits your account, you are going to get your funds back either before the RTGS time of closing or within two hours of the transaction.
Final Word
When transferring greater amounts, South Indian Bank RTGS is the most efficient method. The RBI stipulates that an RTGS transfer must arrive in the recipient’s account within 30 minutes of the transfer being started. Refunds to the sender’s account are required if the transaction fails. Now that you know how to get and fill out an RTGS form from South Indian Bank in addition to NEFT, make the payment.
FAQs
A PAN card is needed for every RTGS transaction over ₹2.5 lakhs.
No, payments are non-refundable once an RTGS transaction has been initiated fully.
Within a few hours, the money will be automatically credited to the sender’s account if the transaction fails despite the money being debited.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
