IDBI RTGS Form - How to Download IDBI Bank RTGS Form?

Digital money transfers are now more prevalent than ever. Whether dining at a restaurant, shopping or repaying a debt, electronic payments have become integral to daily transactions. With various options like NEFT (National Electronic Funds Transfer), IMPS (Immediate Payment Service), and RTGS (Real-Time Gross Settlement), choosing the right method can be confusing. Which one best suits your needs? Let’s explore.

NEFT and IMPS are ideal for short and quick payments, while RTGS is considered the best option for bulk payments. In the given sections, we will discuss how to download and submit an IDBI RTGS form to transfer large sums of money swiftly and securely. 

What is the IDBI RTGS Form?

IDBI Bank allows two different modes to transfer funds through RTGS. The first is online via net banking or mobile banking. The other is offline, where you can transfer funds by depositing cash or cheque at a nearby IDBI Bank branch. For the offline process, you will need to fill out an IDBI Bank RTGS form and submit it. Once your request is processed, the bank will immediately transfer funds to the beneficiary account you have mentioned. The transaction value must be at least Rs. 2 lakh, with no upper limit.

How to Download IDBI RTGS Form?

Follow the given steps to download the IDBI RTGS form in PDF form: 

• Visit the official IDBI Bank website. 
• Sign in to your account using your credentials. 
• Navigate to the forms and download section and search for the RTGS form. 
• Open the PDF form and print it. 

You can also get a copy of the same form by going to your nearest IDBI Bank branch. 

How to Fill the RTGS Form of IDBI Bank? 

The IDBI Bank's RTGS form has two sections- one is the application for RTGS transfer, while the other is an acknowledgement slip. Here is how you can fill out the RTGS form:

• Start by writing basic details such as the date of submission, branch and payment mode (RTGS). 
• Write down all beneficiary details accurately, including their name, account number, bank name and IFSC code. Note that a mistake in the account number and IFSC code in the IDBI RTGS form would transfer funds to the wrong account. 
• After double-checking the information provided, enter the amount to transfer, charges and total amount. Also, write the total amount in words. 
• Sign the form and take the acknowledgement slip. 
• Submit this form at the branch along with cash or a cheque and any documents required by the bank. In case your payment is delayed, you can raise a concern by showing the acknowledgement slip.

IDBI RTGS Form PDF Download

You can download the IDBI RTGS form PDF online on the bank’s official website and submit it with a cheque to the bank's teller or customer service desk. 
IDBI RTGS Application Form

Documents Required

To perform RTGS transactions, you will need the following documents:

• Beneficiary's bank details, including their bank name, IFSC code, and account number. You can get these details from a copy of the beneficiary's bank passbook or cheque book.
• Your bank's passbook to write your bank details. 
• A cheque leaf from your bank with beneficiary details written on the back.

You may need to furnish a photo ID, such as an Aadhaar card or voter ID card. You can contact the bank to resolve any queries or confirm the list of documents. 

IDBI RTGS Form Filling Sample

Here is the sample NEFT/RTGS form of IDBI Bank you can download from the bank’s official site:

IDBI RTGS Form Signature

Your signature on the IDBI RTGS form is crucial for processing the transaction. It authorizes the bank to debit the specified amount from your account. Ensure your signature matches the one registered with the bank to avoid delays or rejections.

IDBI RTGS Form Download in Excel

IDBI Bank does not provide the RTGS form in an Excel format. However, you can download the official RTGS form in PDF format from the IDBI Bank website and print it for offline use.

IDBI Bank RTGS Timings 

As per the terms and conditions of  IDBI Bank, the bank processes RTGS transactions within certain timelines per the directions of the Reserve Bank of India (RBI). Here are the payment request/cut-off timings for RTGS transactions:

• Outward transactions: 9:00 a.m. to 4.15 p.m. on weekdays, 9:00 a.m. to 1:00 p.m. on Saturdays.
• Payment Requests via Email/Fax: 3:30 p.m. on weekdays, 12:30 PM on Saturdays
• Bulk Uploads by the Customer: 4.00 p.m on weekdays, 1:00 p.m. on Saturdays

Under regular circumstances, IDBI Bank will try to complete the transfer to a beneficiary's account on the same day. If your payment is not processed in time, the funds will be returned to your account within an hour. 

IDBI Bank RTGS Charges 

Like many other Indian banks, IDBI Bank levies a small service charge for RTGS transactions. Inward RTGS transactions are free of cost, meaning there are no charges for receiving funds. However, for outward transactions, the charges vary based on the transfer amount. 

For transactions between Rs. 2 lakh and Rs. 5 lakh, the service charge can be up to Rs. 30 per transaction. For amounts exceeding Rs. 5 lakh, the charge can be up to Rs. 55 per transaction. These charges ensure smooth and secure high-value fund transfers while maintaining the efficiency of the RTGS system.

Things to Keep in Mind While Filling an IDBI RTGS Form

Since RTGS payments are final and irreversible, you must ensure to mind the following things when filling out the RTGS form:

• Double-check the account number and IFSC code of the beneficiary to ensure they are correct. A wrong code can lead to total loss of funds transferred. 
• A copy of the beneficiary's cheque book is recommended to provide the correct details. 
• Check if sufficient funds are available in your bank account to cover the transaction amount and other applicable charges. 
• Write all the entries on the form in clear handwriting. 
• Make sure that you have written the correct amount to be transferred in words and numbers. 
• The name of the person or entity you want to transfer funds to must match the beneficiary’s account details.

Final Words

Real Time Gross Settlement (RTGS) is a fast and efficient solution used for high-volume and time-sensitive payments. Operated and managed by the RBI, RTGS offers guaranteed settlements, lower systematic risks and increased liquidity for any company using the system.

IDBI Bank makes it possible for anyone to carry out RTGS transactions by offering both online and offline modes. With an IDBI RTGS form, you can transfer funds from a bank branch without learning how to do it online. Follow the instructions we have provided above for convenient and hassle-free payments.

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