Industrial Credit and Investment Corporation of India (ICICI). The most popular bank in the financial sector in India. It has many branches all over the nation. ICICI is a financial sector bank registered in Vadodara, Gujarat. A new feature has introduced in ICICI enables sending about through social media. Non Residential Indian (NRI) can send their money through social media. For that ICICI introduced the money2india app. Through this application, NRI can send their money via social media platforms.
The ICICI has multi-type of transactions. RTGS, NEFT, IMPS, Challan, Demand Draft (DD), and other features include it. Most transactions are doing based on Internet banking facilities. In internet banking, we have RTGS, NEFT, and IMPS.
ICICI RTGS Form Download
What is RTGS?
RTGS means Real-Time Gross settlement. It is an online transaction process. It is an easy way to transfer the fund from one to another. In this electronic process, we can transfer the amount in real-time quick payment. Through this process, we can transfer the amount without any delay. The least transaction in RTGS INR 2, 00,000 lakhs per day. The largest transaction in RTGS is INR 10, 00,000 lakhs per day.
In this RTGS process, the amount will receive within 30 minutes. It is the easy way to send the amount from the sender’s account to the receiver account.
What is NEFT?
NEFT means National Electronic Fund Transfer. It is another process of sending amount through the online banking system. Through this NEFT we can transfer the fund from one to another by use of NEFT and also with credit cards etc.
There is no least amount to transfer in NEFT. The greatest amount to transfer the fund is INR 10,00,000 lakhs.
What is the difference between RTGS and NEFT?
- NEFT fund transfer is base on time batches.
- RTGS is a real-time fund transfer system.
- NEFT has no least amount to transfer the fund
- RTGS has the least amount to transfer the fund. The least value amount of RTGS is INR 2,00,000 lakhs
- NEFT and RTGS have the greatest amount of value is INR 10,00,000 lakhs.
- RTGS amount will receive to the beneficiary within 30 minutes, the NEFT system will take time.
How to apply RTGS and NEFT form?
RTGS and NEFT are online banking system. The customers use the online banking facility to transfer the fund by RTGS or NEFT. The customers are not up-to-date in the online banking system. Those who not aware of the online banking system need the RTGS and NEFT form to download.
The following details need to know to fill up the RTGS and NEFT form.
- The amount to transfer
- The receiver name
- The receiver bank name
- The receiver bank account number
- The receiver bank IFSC code
How to fill ICICI RTGS/ NEFT form?
In RTGS and NEFT form there will be few sections. In that, the customer has to fill up the details as mentioned in the application. Date, Bank Name, Branch of the Bank, Account number, Total amount, Words of the Total amount, Bank charges.
In the section of the form. We have to fill the details of the following.
- Transfer amount.
- Name of the Beneficiary.
- Beneficiary’s bank name.
- Beneficiary’s bank location.
- IFSC code of the Beneficiary bank account.
- Beneficiary Bank account number.
- Transfer amount in words
- Name of the applicant.
- Address of the customer.
- Mobile number of the remitter and finally the signature of the remitter.
After handover the application to the bank authorities. They will verify the details on the computer and do further process and transfer the fund. Some bank requires cheque leaf if the amount exceeds of INR 2,00,000 lakhs. If the account holder doesn’t have the cheque leaf facility. The bank will arrange a temporary cheque leaf facility. Due to some rules by the financial sector. The bank asks the cheque leaf facility if the amount of funds exceeds INR 2,00,000 lakhs.
How to transfer funds in RTGS through internet banking?
- Create user name and password by applying in the bank
- Go to the website of ICICI banking.
- Click the personal banking
- Click the tab of fund transfer/payment link
- Click RTGS and fill up the details of Beneficiary.
- Fill the details of the beneficiary and the amount to transfer.
- Click the pay now and proceed to click the submit.
ICICI RTGS and NEFT charges:
There are no fixed charges for RTGS and NEFT transactions by the Reserve Bank of India (RBI). The bank sectors can decide their charges base on the amount to transfer. The charges will rise if the amount is high. The bank charges INR 20 to 40 + GST approximately for the least amount of INR 2, 00,000 lakhs. Some banks don’t charge for NET up to the amount INR 1,00,000 lakhs.
Timings for RTGS payment:
- Via online the bank allows transferring the fund.
- Every month of 2nd and 4th Saturday the bank will close.
- All other Saturday’s working day and the transaction will close at 2 p.m
- Sunday RTGS not working.
RTGS Timings and Charges: