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Deposit Insurance And Credit Guarantee Corporation customers can transfer fund using National Electronic Funds Transfer (NEFT), Real Time Gross Settlement System (RTGS) as well as IMPS platforms. You can use either of these facilities to send money across different banks, different accounts, different states and different cities.
RTGS funds transfer can be used to send amounts of Rs. 1 lakh and above. You can go RTGS transfer through net banking or by walking into any of the branches. You must fill up a Fund Transfer Instruction form which is available at the Deposit Insurance And Credit Guarantee Corporation. You need to provide the following information.
RTGS is available for customers to use on weekdays and Saturdays. It will not be available on Sundays and National holidays.
Fees & Charges for RTGS Transaction by Deposit Insurance And Credit Guarantee Corporation :
Amount | Charge(per transaction, excluding taxes) |
---|---|
INR 2 lakh(Minimum Amount) | |
Sum between INR 2 lakh to INR 5 lakh |
INR 25 + Applied Taxes |
Sum betwwen INR 5 lakh to INR 10 lakh |
INR 50 + Applied Taxes |
NEFT can be used to transfer smaller amounts of money that do not exceed Rs. 99,999. To use this platform, customers can follow the same procedure as stated for RTGS. Fill up the Fund Transfer Instruction form available at the bank. You will need to furnish the information given below.
Fees & Charges for NEFT Transaction by Deposit Insurance And Credit Guarantee Corporation :
Transaction Charges | NEFT |
---|---|
Cash up to INR 10,000 | INR 2,50 + Applied Taxes |
Sum between INR 10,000 and INR 1 lakh | INR 5 + Applied Taxes |
Sum between INR 1 lakh and INR 2 lakh | INR 15 + Applied Taxes |
Sum between INR 2 lakh and INR 5 lakh | INR 25 + Applied Taxes |
Sum between INR 5 lakh and INR 10 lakh | INR 25 + Applied Taxes |
NEFT Transaction timings specified by Deposit Insurance And Credit Guarantee Corporation:
Transaction Timings | NEFT |
---|---|
All days except Sundays, 2nd and 4th Saturdays | 8:00 AM to 6:30 PM |
A subsidiary of Reserve Bank of India, Deposit Insurance And Credit Guarantee Corporation was established in the year 1978 under Deposit Insurance and Credit Guarantee Corporation Act, 1961. It was started with the aim of insuring deposits and guarantee credit services. This bank insures all bank deposits up to the limit of ?100,000. Its headquarters are in Mumbai