Services

RTGS

Real-Time Gross Settlement(RTGS) refers to fund transfer systems in which the transfer of money or securities takes place from one bank to another on a 'real-time' and 'gross' basis. In Real-Time settlements, the payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. 'Gross settlement' means that the transaction is settled on one to one basis without netting with any other transaction.

NEFT

National Electronic Funds Transfer (NEFT) is an electronic fund transfer system that enables the transfer of funds to other bank accounts across the country. The advantage with NEFT is that it is a secure, safe, quick and cost-effective means to transfer funds, especially for retail remittances.

Fund Transfer is transferring money from your accounts (Savings, Current and Cash Credit Accounts) to any type of account with any Bank. You can also transfer funds from your accounts with any other bank to your deposit accounts, other than term deposit accounts, and Loan Accounts with us. The following are the different types of fund transfers available.

• NEFT:  National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Scheme.

• RTGS: The acronym 'RTGS' stands for Real-Time Gross Settlement, which can be defined as the continuous (real-time) settlement of funds individually on an order by order basis (without netting). 'Real Time' means the processing of instructions at the time they are received rather than at some later time.' Gross Settlement' means the settlement of funds transfer instructions occurs individually (on an instruction by instruction basis). Considering that the fund's settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable

The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is Rs:- 2 lakh.

The RTGS service window for customer’s transactions is available from 9.00 hours to 16.30 hours.

Different B/w NEFT and RTGS?

NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement (DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all transactions received until the particular cut-off time. These transactions are netted (payable and receivables) in NEFT whereas in RTGS the transactions are settled individually. Any transaction initiated after a designated settlement time would have to wait till the next designated settlement time Contrary to this, in the RTGS transactions are processed continuously throughout the RTGS business hours

• IMPS : (Immediate Payment Service) this facility will be made available in the near future.

content will be updated soon.

At present, the Bank offers onsite ATM services at the below-mentioned branches.

• Head Office Navathimandiram

Services that our ATM centers provide:-

• Balance Enquiry
• Cash withdrawal.
• Mini statement.
• PIN Change Request

 Demand Draft available soon

SAHAKARANA SUPERMARKET

NEETHI STORES

 PEST AND MANURES

 NEETHI MEDICALS