BANKING

How to fill State bank of India (SBI) NEFT Slip/Form

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State Bank of India is the largest bank of India. The headquarter of this bank is situated in Mumbai, Maharashtra. This Bank has the highest number of accounts operated at present. When it comes to providing services to its customer then it is always leading. Some of the best services that it provides are like issuing of International ATM cum Debit Card to its customer, Credit card Facility, providing home and vehicle loans at affordable rate of interest. The most common service that it provides to its customer is the facility of funds transfer under NEFT. Let’s learn this term in detail.

What is State Bank of India NEFT system of funds transfer ??

NEFT or National Electronic funds transfer is a online transfer system in which the funds are transferred form one bank to another bank account located at any corner of the country. Under NEFT one can transfer a sum below Rs Two Lakh. The Bank charges nominal commission for this service. In NEFT the transfer system works on batches which is equated into equal working hours as prescribed by the Reserve Bank of India.

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What is the Eligibility for qualifying for NEFT
There are basically two needs to transfer funds under NEFT. Firstly one should have an bank account when he wishes to transfer the amount in offline mode. Secondly, he should have sufficient funds specially the sum he is transferring in another account. Thirdly, for transferring through this medium online one needs to have access to internet banking. Nowdays apps like BHIM doesn’t require any internet banking access to transfer funds in another account. One needs to just install the app register the mobile number with the bank account. Later after successful account creation one can transfer the amount just by inputting the account name, account number, IFS Code of the receiver of the funds.

State Bank of India NEFT Charges
State Bank of India NEFT charges depends upon the amount one is transferring in another account. One can confirm form the Bank about the charges levied on the amount.

What are the mode of transferring funds under NEFT system
There are basically two ways devised for funds transfer under NEFT. One is online banking which includes internet banking, mobile banking, IMPS or BHIM App. The another mode devised for NEFT is offline, under which one needs to visit a bank fill up a form and pay the necessary charges.

How to fill the entries of NEFT form of State Bank of India
Lets see how and what actually is to be filled in the entries of State Bank of India NEFT form. Basically there are two section of this NEFT slip one is a customer copy which is on the extreme left and other is bank copy which is on the extreme right as shown in obove NEFT image. A customer has to to fill up both the bank copy and the customer copy after filling this slip and after presenting the slip to the bank the bank retains the bank copy and returns the customer copy to the customer after putting cashier signature and the bank seal on it. Let’s learn how the entries to be filled in this form.

Video Tutorial……

Entries in Bank copy:
Date: Just write the date when you are doing this transaction
Branch: Just write the name of the Branch from where you are doing this NEFT Transaction
Code: Just write the branch code of the Bank from where you are doing this NEFT Transaction
Please remit the sum of Rs: Just write the total amount you want to transfer along with the NEFT charges involved in it.
Rupees: Just write the entire total amount in words that you wish to transfer along with the NEFT charges added on it.
As per details below by debiting my/our account No: Just mention your account number from which you want to transfer money to another account.
Name of the beneficiary: Just write the name of the peRson to whom you are sending money
Destination Bank’s name: Just write the name of the bank of the peRson to whom you are sending money.
Branch: Just write the name of the bank branch where the receiver of money maintains his account.
IFS Code: Every bank branch has its own IFSC code which is meant for online transfer transactios. Just write the IFSC code of the Branch bank branch where the receiver of money maintains his account.
Account no: Just write the account number of the person to whom you are transferring the money
Account No(again): Just rewrite the account once again of the peRson who you are transferring money
Amount(in figure) : In this coloumn Just write the amount in figure that you wish to transfer.
Charges Rs.: neft transfer involves charges for this service. The charges depends upon the amount you are transferring in other Rs account. You can confirm it from bank about the charges levied on the amount you are transferring
Total Rs: Just total the amount you are transferring and add the NEFT charges and write in this coloumn.
Date of transfer/cash: if you want to transfer in cash then write the particulars of cash and date when you are transferring.
Amount: Just total the amount you are transferring and add the NEFT charges and write in this coloumn.
Name of applicant: Just write the name of the peRson who is transferring(remitter) the money which is you. Just write your full name
Address: Just write you residential address.
Mobile/Tel no: Just mention your mobile number or telephone number.
Scroll No: Leave it blank
UTR No. Leave it blank
Signature: Just put your signature here in this coloumn

Enries in customer copy:

Branch: Just write the name of the Branch from where you are doing this NEFT Transaction
Date: : Just write the date when you are doing this transaction
Received Rs: Just total the amount you are transferring and add the NEFT charges and write in this coloumn.
From: : Just write the name of the person who is transferring(remitter) the money which is you. Just write your full name
address: Just write you residential address.
By cheque No: Just write the serial number of the cheque you have given to the bank for debiting said amount from your account
Transfer for NEFT: ………Leave Blank
On: Just write the date when you are transferring the amount
Bank: : Just write the name of the bank of the person to whom you are sending money.
Branch: Just write the name of the bank branch where the receiver of money maintains his account.
Favouring: Just write the name of the peRson to whom you are transferring the money
Account no: Just write the account number of the peRson to whom you are transferring the money
IFSC Code: Every bank branch has its own IFSC code which is meant for online transfer transactios. Just write the IFSC code of the Branch bank branch where the receiver of money maintains his account.
Amount Rs: : Just total the amount you are transferring and add the NEFT charges and write in this coloumn.
Bank’s charges Rs: neft transfer involves charges for this service. The charges depends upon the amount you are transferring in otheRs account. You can confirm it from bank about the charges levied on the amount you are transferring
Total Rs: : Just total the amount you are transferring and add the NEFT charges and write in this coloumn.
( Rupees: :……… Just write the entire total amount in words that you wish to transfer along with the NEFT charges added on it……………Only)

Congrats you have successfully filled NEFT form correctly

Note** The bank transfer the amount on the basis of the account number provided in this form of the receiver of money so kindly recheck the account number twice and thrice of the receiver of money before submitting the form.

If you face any problem do comments your doubts.

Thanks for reading the article……………

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