Nagarik Sahakari Bank Ltd. (Bhiwandi) offers NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) services to facilitate secure and rapid electronic fund transfers across India. These services are typically managed via their partnership with larger sponsor banks like IDBI or YES Bank for seamless clearing.
NEFT & RTGS Services
These facilities allow customers to move funds from their Nagarik Sahakari Bank account to any other bank account in India.
1. RTGS (Real Time Gross Settlement)
► Purpose: Ideal for high-value, urgent transactions.
► Minimum Amount: ₹2,00,000 (2 Lakhs).
► Maximum Amount: No upper ceiling.
► Settlement: Real-time (processed individually as soon as the instruction is received).
2. NEFT (National Electronic Funds Transfer)
► Purpose: Best for smaller, routine payments like bills, salaries, or person-to-person transfers.
► Minimum Amount: No minimum limit (can start from ₹1).
► Settlement: Processed in half-hourly batches throughout the day.
Key Features:
► Safe & Secure: Being RBI-regulated systems, these are the safest modes of digital money transfer.
► All-India Reach: Transfer funds to any of the over 1.5 lakh NEFT/RTGS enabled bank branches in India.
► No Physical Cheque Needed: Eliminates the need to send demand drafts or physical cheques by mail.
► Instant Confirmation: Most transfers provide SMS alerts once the amount is debited and when it is successfully credited to the beneficiary (if registered).
► Paperless Option: Can be performed via the NAGARIK SAHAKARI BANK LTD BWD Mobile App or through a physical form at the branch.
