How to fill NEFT and RTGS form of Bank of Maharashtra

Bank of Maharashtra is one of the leading public sector bank of India, presently the bank has 1897 branches in all India.

What is NEFT/RTGS full form ??

NEFT (or National Electronic Fund transfer) and RTGS (or Real time Gross Settlement) are online system devised to transfer funds from one bank account to another. Both the system are safe and reliable both for the remitter and the receiver of the money. The transfer of funds is generally processed in batches divided into equal equated hours. Under NEFT one can transfer a sum less than 2 Lakh and in case of RTGS one can transfer a sum of Rs 2 Lakh and obove. The NEFT and RTGS does not work on holiday or on Sundays. The bank charges a small commission for this service as charge. The charges depends upon the amount one is transferring.

Eligibility of NEFT and RTGS ??

In order to transfer through the medium of NEFT and RTGS one should have an account with the same branch from where he is transacting that transaction. The second criteria is that he should have sufficient funds in his account mainly the sum he is willing to transfer in another account. Some bank allows NEFT and RTGS transaction in cash but not all banks allows it. One needs to confirm with the bank, option of transferring through NEFT/RTGS in cash.

How to transfer funds under NEFT and RTGS ??

There are two ways of transferrring funds through the medium of NEFT anf RTGS. Oone method is online for which one need to have a internet banking credentials or account. But many customer may not be having the internet banking kit or an account, so for them the best method to transfer through this medium is Offline. Under Offline method, one need to visit a bank of maharashtra bank there he need to fill up a form of NEFT /RTGS form. Along with this he must pay the transferable amount with a self pay cheque. The amount of the cheque should be total of transferring amount and the bank charges, that bank charges of this service. The customer then need to present the form along with the cheque to the bank clerke for final clearing of the transaction.

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