Punjab National Bank RTGS: The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is Rs 2 lakh. PNB RTGS Form, Rules, Timing, Charges & How to do RTGS?: With Real Time Gross Settlement (RTGS) you can transfer funds to any bank across India in real time. With this service your transactions are easier, and, with fewer restrictions, they reach further than before. Punjab National Bank is RTGS enabled and provides its customers RTGS service in a number of ways. Customers wanting to remit money through RTGS can do so by filling PNB RTGS Form.
What is RTGS?
PNB Real Time Gross Settlement (RTGS) is a nation-wide payment system facilitating one-to-one funds transfer. Under this Scheme, individuals can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country participating in the Scheme
|PNB RTGS Transfer Modes
|Offline- Visiting PNB branch
Online- Mobile/ Net Banking
|PNB RTGS Transfer Limit
|Net Banking- ₹ 5 Lakhs
Bank Branch – No limit
|PNB RTGS Transfer Charges
|Net Banking- Nil
Bank Branch – Rs. 2 lakh to 5 lakh-Rs.20.00 + GST
Above Rs. 5 lakh-Rs.40.00 + GST
In what way it is beneficial to the Customers
Customer can remit funds to the account of another bank branch and The funds are transferred instantaneously at nominal charges
Punjab National Bank RTGS Form
Minimum and Maximum Amount for Transfer
- Minimum: Rs. 200000
- Maximum: No Limit
PNB RTGS Fees
|Mode of Transaction
|Online modes (i.e. internet banking, Mobile app)
|₹2 lakh up to ₹5 lakh:
|₹20 + applicable GST
|₹5 lakh +
|₹40 + applicable GST
How to Send Payment via RTGS in Punjab National Bank
There are two ways to send payment via PNB RTGS and one of them is 1. RTGS via Online Internet Banking and 2nd is RTGS via Bank Branch.
RTGS via Bank Branch : If you want to make RTGS in Punjab National Bank via offline mode i.e from Bank Branch then you need to visit your nearest Punjab National Bank Branch and Request for RTGS Form or Slip and Fill all the require details asked in RTGS Form and submit to Cashier, Now you bank brach send payment to another person within 2 working hours
RTGS Via Internet Banking : You may also send money via RTGS by using your Punjab National Bank Internet Banking Service, for using Internet banking, you need to login at Punjab National Bank Website and then you will require to add new Beneficiary and then you are able to make payment via RTGS. Online RTGS is enabled for all customers of Punjab National Bank (Internet Banking) with full transaction right. If you would like to avail Punjab National Bank RTGS Facility then please download the application form or visit to your Punjab National Bank Brach and submit the duly filled form to your base branch. If you are already a Punjab National Bank Connect customer with “view right” and would like to avail full transaction right, please resubmit your application form (can download from above URL) to you base branch.
- Login to Punjab National Bank Retail NetBanking
- On the left hand side navigation bar, click on “Other Bank Transfer – RTGS” under the Funds Transfer section.
- Fill in all details like transfer amount, destination account number, IFSC Code, beneficiary name & payment details. After these details are filled in correctly, a unique transaction confirmation number would be generated. This number is to be quoted for any query related to this particular transaction.
Timings for RTGS
Time Schedule: (Change In RTGS Timing Wef. 01.06.2019)
|Retail Internet Banking
When is the amount credited in the beneficiary account?
- Punjab National Bank RTGS is open 24×7, 365 days.
- Transactions, once confirmed will be immediately debited from the source account and taken up for processing. Transactions initiated before the cut off time shall be processed on the same day.
- All transactions initiated outside the RTGS hours and on RTGS holidays will be processed (for onward transfer to beneficiary bank) only on the next working day. Please ensure that there are sufficient funds in your account to process the transaction. In case you are retrying, please check the status of your previous transaction
- Please note that once the amount is debited and processed from Punjab National Bank, the credit into the beneficiary account is completely dependent on the destination bank
Cut off time for remittance through Punjab National Bank RTGS
Under normal circumstances the beneficiary branches are expected to receive the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary’s account within 30 minutes of receiving the funds transfer message.
Information Required For Transfer Of Funds
- Amount to be remitted
- Account no. to be debited
- Name of the beneficiary bank
- Name of the beneficiary customer
- Account no. of the beneficiary customer
- Sender to receiver information, if any
If An RTGS Transaction Is Not Credited To A Beneficiary Account, Does The Remitter Get Back The Money?
Yes. If the beneficiary`s bank is unable to credit the beneficiary`s account for any reason, the former will return the money to the remitting bank within 2 hours. Once the amount is received by the remitting bank, it is credited to the remitter`s account by the branch concerned.
What is the difference between RTGS and NEFT?
- Both RTGS (Real Time Gross Settlement) & NEFT are facilitated by RBI for doing online funds transfer between various member banks.
- Effective 15th November 2010, as per RBI guidelines, RTGS (Real Time Gross Settlement) is available only for transactions of Rs.2,00,000/- and above. For any transaction below Rs.2,00,000/- NEFT should be used
What is the Benefits of Punjab National Bank RTGS
- Punjab National Bank RTGS is Available to all – All our Net banking (existing & new) users are eligible to utilize this on-line facility.
- Punjab National Bank RTGS Facility is simple, convenient, quick and secure – Users can transfer funds to the beneficiaries in other banks in a simple, convenient and seamless manner. Funds transfer to other banks is faster, secure and safe
- Customers can use Punjab National Bank RTGS Anytime, anywhere… Simple and easy to operate – from home / office anytime, anywhere, Save time and energy
- Get more for less – PNB RTGS cost less than the conventional modes of remittance such as DD/MT