The Union Bank of India Real Time Gross Settlement (RTGS) form is a mandatory document used to initiate high-value fund transfers within India. RTGS is primarily designed for transactions exceeding ₹2 lakh, offering near-instant settlement on an order-by-order basis. Purpose of the RTGS Form
This form acts as a legal instruction to the bank. It authorizes the transfer of a specific amount from your account to a beneficiary at another bank. Unlike NEFT, which processes in batches, RTGS is processed continuously throughout the bank's business hours. Key Sections of the Form
To ensure a successful transfer, you must provide accurate details in the following sections:
Remitter Details: Your name, account number, and contact information.
Beneficiary Details: The recipient's full name and their specific bank account number.
Bank Details: The beneficiary's bank name, branch, and the unique 11-digit IFSC code.
Transaction Amount: The total sum to be sent, written in both figures and words.
Signature: A physical signature matching the bank's records for authentication. Steps to Complete the Transfer
Download or Collect: Obtain the form from the official Union Bank of India website or visit any local branch.
Fill Accurately: Use blue or black ink. Ensure the IFSC code is correct, as a single wrong digit can misdirect the funds.
Submit to Branch: Hand the completed form to a bank official. For offline transfers, you may need to provide a cheque for the total amount plus service charges. union bank of india rtgs form
Acknowledgment: Retain the counterfoil or acknowledgment slip provided by the teller for your records. Important Considerations
Minimum Limit: RTGS is only available for amounts of ₹2,00,000 and above.
Timing: While RTGS is technically available 24/7 via digital channels, branch-based requests are subject to specific business hours.
Service Charges: Fees vary based on the transaction amount and whether the request is made online or at a branch.
Finality: Once processed, RTGS transactions are irrevocable. Double-check the beneficiary's account number before signing. Digital Alternatives
If you have Union Bank of India net banking or mobile banking enabled, you can perform an RTGS transfer digitally. This eliminates the need for a physical form and often incurs lower service fees.
Although optional for personal transfers, this is mandatory for business accounts. Common codes:
RTGS (Real Time Gross Settlement) is a fund transfer mechanism where money is transferred from one bank to another on a "real-time" and "gross" basis. This is the fastest method to transfer high-value funds.
This guide covers how to fill out the form, where to get it, and the applicable rules.
| Days | Cut-off Time | | :--- | :--- | | Monday to Friday | 4:30 PM | | Saturday | 2:00 PM | | Sunday & Bank Holidays | Not available | The Union Bank of India Real Time Gross
How long does it take?
Note: From December 2020, RBI has enabled 24x7 RTGS for digital channels, but physical branch forms still follow traditional hours.
| Item | Detail | |------|--------| | Min amount | ₹2 lakh | | Max amount | No limit | | Settlement | Real-time | | Form name | NEFT/RTGS Transaction Form | | Critical field | IFSC code | | Cut-off time | ~4:30 PM weekdays | | Charges | ₹25–50 + GST | | Alternatives | NetBanking, Mobile app | | Availability | Branch only during working hours |
If you need a specific downloadable blank form or the latest fee update, visit the official Union Bank of India website → “Forms & Downloads” → “Fund Transfer Forms” – or ask at your home branch.
You're looking for information on the RTGS (Real-Time Gross Settlement) form for Union Bank of India. Here's what I found:
What is RTGS?
RTGS is a payment system that enables individuals and businesses to transfer funds electronically from one bank account to another in real-time. The transaction is settled immediately, and the funds are credited to the recipient's account instantly.
Union Bank of India RTGS Form
To initiate an RTGS transaction through Union Bank of India, you can use their RTGS form, which is usually available at the bank's branches or on their website. Here's a general outline of the information required:
How to Fill Out the RTGS Form
To fill out the RTGS form, follow these steps:
How to Submit the RTGS Form
Once you've filled out the form, submit it to a Union Bank of India branch or use their online banking platform (if available). You can also use their mobile banking app or internet banking facility to initiate the RTGS transaction.
Charges and Timings
The charges for RTGS transactions vary depending on the amount transferred and the channel used. Typically, the charges range from ₹2 to ₹10 for transactions up to ₹1 lakh, and ₹5 to ₹20 for transactions above ₹1 lakh.
RTGS transactions are usually processed in real-time, but the timings may vary depending on the bank's cut-off times. Generally, RTGS transactions are processed between 9:00 AM and 4:30 PM on weekdays, and 9:00 AM to 1:00 PM on Saturdays.
IFSC Code
To initiate an RTGS transaction, you'll need the IFSC (Indian Financial System Code) of the recipient's bank. The IFSC code for Union Bank of India is:
You can find the IFSC code of the recipient's bank on their website, cheque leaf, or by contacting their bank directly.
Online RTGS
If you prefer to use online banking, you can also initiate an RTGS transaction through Union Bank of India's website or mobile banking app. Simply log in to your account, select the RTGS option, and follow the prompts to enter the recipient's details and transaction information.
Please note that the specific details and procedures may vary depending on Union Bank of India's policies and procedures. If you're unsure about any aspect of the RTGS process, it's best to contact the bank directly for guidance.