Indian Overseas Bank RTGS Form PDF Download Online: IOB NEFT Form

Indian Overseas Bank is a public sector bank in India. It owns more than 3,400 branches in India and 6 branches in foreign. Undoubtedly, it offers numerous banking and finance-related products and services. Hassle-free fund transfer system is one of such excellent services by IOB.

Real-time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) are key fund transfer systems. RBI controls IOB’s RTGS and NEFT systems. Due to this, these systems come with high security and authentication of amount remittance.

IOB RTGS Form PDF Download Online

Indeed downloading RTGS/NEFT form of IOB is an easy task. You only need to visit IOB’s online portal. Then follow these steps to download RTGS/NEFT form:

  • Visit the official website of Indian Overseas Bank.
  • Next is to click on “Related Links” that lies at the bottom of the page.
  • Consequently, a new page will open. Now select the “Downloads” option and then a list will appear.
  • Finally, choose RTGS/NEFT form whichever you desire to download.

It is important to note that IOB offers distinct forms for RTGS and NEFT transactions. After downloading, a PDF file will open.

How to fill IOB RTGS/NEFT form?

Undoubtedly RTGS/NEFT transaction form demands non-erroneous information filling. Clearly, there may be consequences if you fill any information wrong. In some cases, the bank does not hold any accountability for the transaction.

At bank branch:

To complete the RTGS/NEFT transaction in IOB, follow this procedure stepwise:

  • Firstly, fill remitter, beneficiary, and payment-related information.
  • Further, sign the form in the given field for authentication or validation.
  • Get this RTGS/NEFT form submitted at the IOB branch.
  • Next is to deposit the money to be remitted as well as RTGS/NEFT charges.
  • Finally, the bank executive will hand over the acknowledgment slip to you.

Through internet/mobile banking

IOB introduced an online fund transfer facility to customers in a more convenient manner. For this, customers can use mobile/internet banking for RTGS/NEFT transactions. It simply implies that you can transfer funds using RTGS/NEFT system at your comfort. Obviously, it eliminates the need to visit the bank branch for the same.

However, you need to login to your internet/mobile banking account. Now add the beneficiary details in your account for further proceedings. After that, select the RTGS or NEFT option and enter the amount to be remitted. Also, it requires filling the necessary information including remitter and beneficiary.

IOB RTGS/NEFT Timings

RTGS timings:

  • Monday to Friday: 08:00 am-06:00 pm
  • Working Saturdays: 08:00 am-06:00 pm

NEFT timings:

  • Monday to Friday: 08:00 am-06:00 pm
  • Working Saturdays: 08:00 am-07:00 pm

Here working Saturdays include 1st, 3rd & 5th Saturdays of every month. Also, IOB undertakes NEFT transactions on the basis of half-hourly batches.

You can also check the complete information about What is Indian Overseas Bank Timings on another article.

IOB RTGS/NEFT Charges

RTGS charges:

  • Inward: No charges
  • Outward (Through internet/At home branches of the bank)
    • INR 2 lacs- till INR 5 lacs: INR 24
    • More than INR 5 lacs: INR 49

NEFT charges:

  • Inward: No charges
  • Outward: Generally, outward NEFT transactions through the internet are free of cost for all savings bank account. Following charges are for accounts other than savings bank account:
Amount Outward (Through internet) Outward (At home branches of the bank)
Till INR 10,000 INR 01 INR 01.50
Above INR 10,000-till INR 1 lac INR 03 INR 04
Above INR 1 lacs-till INR 2 lacs INR 11 INR 14
Above 2 lacs INR 19 INR 24

 All the above charges are exclusive of GST.

FAQs (Frequently Asked Questions)

  • What is the minimum as well as maximum amount limit in IOB’s RTGS/NEFT?

The minimum amount should be INR 2 lacs to remit while there is no maximum limit in RTGS. In general, the NEFT minimum limit should be INR 1. However, for offline transactions, the maximum NEFT amount should be INR 50,000 (cash remittance).

  • Is it possible to reverse the RTGS/NEFT transaction once it is done?

No, the reversal of RTGS/NEFT transactions is not possible since the settlement is done in the records of RBI.

  • What should I do if my RTGS/NEFT transaction is delayed?

In this case, you have two options available as the IOB customer. Firstly, you can file your complaint at the bank’s customer service. Whereas another option is to approach RBI’s grievance cell for the same.

Summary

To sum up, being an IOB customer, you become eligible to use RTGS/NEFT systems. You can easily download the form online through the bank’s website. Also, using internet/mobile banking, you can initiate RTGS/NEFT transactions online. IOB charges a minimal amount for such transactions depending on the amount as well as a channel of transaction.

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