Yes Bank is a Private Sector Bank and its headquarter is in Mumbai, India. This bank was established in 2004. Yes Bank provides a wide range of financial and banking products for retail and corporate customers through retail banking & asset management services.
In this article, you will get to know about RTGS and NEFT form, how to download the same and fill along with RTGS/NEFT timing and charges. RTGS or real-time gross settlement & NEFT or national electronic funds transfer is the electronic payment systems that allow customers to send funds between the banks. Moreover, both of these systems (RTGS and NEFT) are maintained by the RBI (Reserve Bank of India). In addition, this system is only applicable to transferring money within the country.
Using RTGS money transfer mode, customer transfer funds on a real-time basis or in other words, we can say that at the time when the money transfer request is received. Therefore, RTGS mode of transfer is one of the fastest interbank money transfer modes available. So, within 30 minutes of receiving the amount transfer message, the beneficiary bank has to credit the recipient account.
Whereas the NEFT money transfer mode operates on the deferred settlement basis. Under NEFT amount transferred is settled in batches as opposed to a real-time settlement process in the real-time gross settlement (RTGS). In addition, the batches are generally settled in the hourly time slots.
Yes Bank RTGS and NEFT Timings
- RTGS Timing:
RTGS service is accessible at YES Bank every day till 3:30 PM except Saturdays, Sundays, and RBI declared holidays.
- NEFT Timing:
NEFT works in the settlement batches, with the last batch closing Monday to Friday at 19:00 hours and on Saturday 13:00 hours. The NEFT mode of transfer facility is not available on Sundays and also on RBI declared holidays. However, YES bank NEFT facility request can be made anytime as it is open 24 x 7, 365 days.
RTGS/NEFT Fund Transfer Limit
- RTGS Limit:
RTGS service is meant for large amounts of transactions. For retail customers, the minimum fund remitted through RTGS mode is ₹ 2 lakh.
- NEFT Limit:
The limit of the Yes bank NEFT transfer is less than ₹ 2 lakh. The customers of Yes bank can only transfer less than 2 lakhs to any bank account. Also, there is no minimum amount for funds remitted using the NEFT mode.
Download Yes Bank RTGS/NEFT PDF Form Online
Generally, you can find RTGS/NEFT form always at Yes bank branches. However, you can download the RTGS pdf form or the NEFT form online without visiting the Yes bank branch. Therefore, you have to follow this shown step for RTGS/NEFT form download online –
- Firstly, you have to visit the Yes bank’s official website – https://www.yesbank.in.
- Scroll the page down to the footer of the website and there you will find the option “Form Center”. Click on that option and you will redirect to the form center page.
- Secondly, on the form center page in the ‘Branch Banking’ section, click on the link ‘Application for National Electronic Fund Transfer / Real Time Gross Settlement system (NEFT/RTGS)’.
- You can also select the language in which you wish to download the form such as English, Hindi, Gujrati, Kannada, Malayalam, Marathi, Punjabi, Tamil, and Telugu.
- The RTGS/NEFT form will open and you can download the same by clicking on the download icon.
Moreover, you can get the RTGS/NEFT form in a pdf file format. In addition, you can either take a printout of the RTGS/NEFT form, fill it correctly with the information asked in the form. Or, you can take a printout of the RTGS/NEFT form after filling in the proper information by editing it in the system.
How to fill Yes Bank RTGS/NEFT Form?
Here I’m sharing steps which you have to follow for filling the RTGS/NEFT form –
- Firstly, you have to select the option of which mode you want to transfer the fund, NEFT or RTGS. But before that, you should know RTGS can use to transfer more than ₹ 2 lakhs on the other hand NEFT can use to transfer the fund less than ₹ 2 lakhs.
- In the form, there are three section remitter details, beneficiary details, and customer acknowledgment slip.
- After that, you have to fill the remitter details like Pan Number, remitter name, remitter account number, cheque date, address of remitter, mobile number, account type, cash deposit, and cheque number, and pin code.
- Thirdly, fill beneficiary details such as beneficiary name, beneficiary account number, reconfirm beneficiary account number, beneficiary account type, the purpose of remittance, a message from sender to receiver, beneficiary bank, branch name & address, IFSC code, and beneficiary, mobile number.
- Lastly, the bank branch will provide you the customer acknowledge skip having a reference number which you can use it further for any complaint regarding the transaction.
What are the Charges for the Yes Bank RTGS and NEFT?
As shown on the official website of the Yes bank, it charges the following amount –
|RTGS Payment – Branch||Per Transaction Charges|
|₹ 2 Lakhs – ₹ 5 Lakhs||₹ 25|
|Above ₹ 5 Lakhs||₹ 50|
|RTGS Payment – Net Banking||FREE|
|NEFT Payment – Branch||Per Transaction Charges|
|Up to ₹ 10k||₹ 2.5|
|₹ 10, 001 to ₹ 1 Lakh||₹ 5|
|₹ 1, 00,001 to ₹ 2 Lakh||₹ 15|
|Above ₹ 2 Lakhs||₹ 25|
|NEFT Payment – Net Banking||FREE|
In conclusion, Yes Bank provides its customers RTGS and NEFT facilities for fund transfer simply and easily along with security. From this article, you can easily know the procedure for downloading the RTGS/NEFT form from the official website of the Yes bank along with the procedure to fill the same form. Above all, you can also get to know about the RTGS and NEFT timing, charges, and many more details. Moreover, Yes bank allows efficient, secure, economical, and also reliable systems for transferring funds from your bank to some other bank across the country.