Karnataka Gramin Bank

Fund Transfer

Core Banking Solution (CBS) has opened up immense opportunities to expand our Banking horizon and provide quick and prompt services to our customers. NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are one of such services. Our Bank is registered as Direct Member with RBI for participating in NEFT and RTGS Payment System

A bank customer (i.e., sender or originator desirous of remitting funds through NEFT/RTGS for the credit of an account (beneficiary) with any bank branch under the system shall submit the “NEFT/RTGS challan” requesting the branch to remit funds.

For those who do not have account with the branch (walk-in-customer) can also make use of the system (NEFT only) for remitting funds. In such cases branches can accept cash. However, such cash remittances should not exceed Rs.50,000/-(including charges and taxes).

In all the above cases, remitter has to provide Beneficiary’s name, Beneficiary’s Bank and branch name, Beneficiary’s account number, Beneficiary’s branch IFS Code, remitter’s Mobile number / email Id and also has to sign on the face and back of the challan for having agreed to the terms and conditions of remittance. Customer may provide either mobile number or email ID or both in the challan.

Types of accounts covered under the scheme - SB / JND / PSJND / CA/ OD / LAA accounts

Timings to accept the remittance

  • For NEFT : 10.30 am to 4.00 pm on week days.
  • For RTGS : 10.30 am to 4.00 pm on week days.

Transaction Limit

There is no minimum and maximum limit for NEFT. However, there is a minimum ceiling of Rs.2,00,000.00 for RTGS whereas no maximum limit.

Time of settlement RTGS Charges
Amount Charges (Excl.GST)
8:00 hrs 11:00 Hrs 2.00 Lakhs to 5.00 Lakhs Rs.24.50
After 11:00 Hrs 13:00 Hrs 2.00 Lakhs to 5.00 Lakhs Rs.24.50
After 13:00 18:00 Hrs Above Rs. 5 Lakhs Rs.49.50
NEFT Charges
Amount Charges (Excl.GST)
Upto Rs.10000/- Rs. 2.25
Rs.10000/- to Rs 1 Lakh Rs. 4.75
More than Rs.1Lakh to Rs.2 Lakhs Rs. 14.75
Above Rs. 2 Lakhs Rs. 24.75