Hello friends firstly, we will see how to download LVB Bank RTGS NEFT Form PDF. This article will be very helpful to see all the information regarding downloading, charges, timings, and how to fill for Lakshmi Vilas Bank RTGS & NEFT application form.
LVB RTGS FORM
Lakshmi Vilas Bank is a private sector bank in India. It was founded in the year 1926 in Tamil Nadu state. This LVB RTGS NEFT forms its customer to apply for NEFT RTGS service offline through its branch. You can get the form easily from any branch of the Lakshmi Vilas Bank or can download it from the bank’s official website.
LAKSHMI VILAS BANK – LVB Bank RTGS NEFT Form PDF
RTGS (Real-Time Gross Settlement) and which can be defined as the continuous settlement of funds transfers individually. “Real-time” means the processing of instructions, “Gross Settlement” means the settlement of funds transfer instructions.
NEFT stands for “National Electronic Funds Transfer”. It is a nationwide system that facilitates individuals firms and corporates to electronically transfer funds from any banks all over India.
What is the difference between the LVB RTGS & NEFT form PDF?
LVB provides different RTGS and NEFT transaction services. But, customers can use the same application form for both transactions.
Steps to fill Lakshmi Vilas Bank LVB NEFT / RTGS form:
Firstly, we need to download the application form. We can see two sections in the form as shown in the image. Fill the form without any mistakes. Follow the below steps to fill the form without any difficulty.
Steps-by-Step Procedure:
- Amount to be remitted: please write the amount which should be remitted from your account.
- The account number to be debited: your LVB account number from which the transaction should be done.
- Name of the beneficiary bank and branch: Also, write clearly the beneficiary of your transaction and form.
- Name of the beneficiary customer: customer name without any mistake.
- Account number of the beneficiary Customer: Never mistake the account number. Write it carefully.
- The IFSC Number of the receiving branch: IFSC code is very important for any kind of transaction. Mention clearly.
- Sender to receiver information, if any required. And submit the form to the Bank Manager.
How to Download LVB Bank RTGS NEFT Application Form PDF
Customers can save alot effort and time. By downloading application in home and filling in advance. You can avoid queue for taking application in bank. Customers can download application form by clicking below button.
RTGS Charges in LVB Bank
The RTGS system is meant for large value transactions. We all already know that. The minimum amount to be remitted through RTGS is 2 lakhs and there is no upper ceiling. Processing charges or service charges for RTGS transactions.
| Transaction Amount | Charges(Rs) |
|---|---|
| Rs 2 lakhs to Rs 5 lakhs | 20/- per transaction |
| Above Rs 5 lakhs | 45/- per transaction |
NEFT Charges in LVB Bank
The NEFT system can be able to transfer the amount from 10,000 to 2 lakhs only. For the remitting funds under the Indo-Nepal Remittance Facility Scheme. The maximum amount that could be transferred is Rs 49,999. The transaction service charges for NEFT Transaction in LVB bank.
| Transactions Amount | Charges(Rs) |
|---|---|
| Up to Rs 10,000 | NIL |
| Above Rs 10,000 to 1 lakh | Rs 5/- |
| Above 1 lakh to 2 lakhs | Rs 15/- |
| Above 2 lakhs | Rs 25/- |
LVB RTGS Charges for Online Transaction
| Transaction Amount | Charges(Rs) |
|---|---|
| Rs 2 lakhs to Rs 5 lakhs | 20/- |
| More than Rs 5 lakhs | 45/- |
LVB NEFT Charges for Online Transaction
| Transaction Amount | Charges(Rs) |
|---|---|
| Up to Rs 10,000 | NIL |
| Above Rs 10,000 to 1 lakh | 5/- |
| Above Rs 1 lakh to 2 lakhs | 15/- |
| Above Rs 2 lakhs | 25/- |
Timings of LVB RTGS form Transactions
Lakshmi Vilas Bank RTGS transactions can be done Online and Offline. The Online transactions can be made 24*7. Offline timings are mention below for RTGS done through bank branches.
| Banking Days | Timings |
|---|---|
| LVB RTGS on workings weekdays (From Monday to Friday) | 10:00 Am to 4:30 Pm |
| On Workings Saturdays (Except 2nd and 4th Saturdays) | 10:00 Am to 4:30 Pm |
| On Sundays and National Holidays | Transactions cannot be done |
Timings of LVB NEFT form Transactions
LVB bank NEFT transactions can be done 24*7 on online. Customers can make NEFT during bank workings hours only. Different timings followed to make NEFT transactions. The timings are mention below.
| Banking Days | Timings |
|---|---|
| NEFT in workings weekdays (From Monday to Friday) | 08:00 Am to 4:30 Pm |
| On workings Saturdays (Except 2nd and 4th Saturdays) | 08:00 Am to 4:30 Pm |
| On Sundays and National Holidays | Transactions cannot be done |
Frequently Asked Questions
What is the time taken for effecting funds transfer from one account to another account?
The beneficiary branches are except to receive the funds in real-time as soon as possible after the funds have transferred by the remitting bank. The amount will be credit within 2 hours.
There is any way to know that remitting customers can track the remittance transaction?
Some banks with internet banking facilities provide this information. If the have been done offline once the amount is credited to the account of the beneficiary bank, the remitting customer gets the confirmation mail or SMS from the bank.
Whom should we Contact, in case the account is debited and not credit or delay in credit the amount?
Firstly visit your bank branch. If the issue is not resolved call LVB office 040-23355355.
How can we know which bank branches are part of NEFT network?
The bank branches having the NEFT system are available on the website of the Reserve Bank of India.
What is time except to get the amount credited to the account?
NEFT system that operates on Deferred Net Settlement (DNS) basis which settles all the transactions in bank batches. DNS takes place with all the transactions received till the particular cut-off time.
Can NEFT be useful to transfer funds to NRO / NRE accounts?
It's a big YES. So that we have the provisions of the Foreign Exchange Management Act, 2000 (FEMA).
For any more information about LVB Bank NEFT, RTGS charges. You can visit LVB official website: https://www.lvbank.com/service-charges.aspx. Comment below for any more queries.