NEFT/RTGS

NEFT
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system which enables transfer of funds to other bank accounts across the country. The advantage with NEFT is that it is a secure, safe, quick and cost-effective mean to transfer funds especially for retail remittances.

At Okkal Service Co-operative Bank, we undertake transfer of funds up to Rs. 2,00,000 to accounts maintained by any bank branches in India instantly by NEFT.

RTGS
Real Time Gross Settlement(RTGS) refers to fund transfer systems in which the transfer of money or securities takes place from one bank to another on a 'real time' and on 'gross' basis. In Real Time settlements, payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. 'Gross settlement' means that the transaction is settled on one to one basis without netting with any other transaction.

Okkal Service Co-operative Bank undertakes transfer of funds with the minimum amount of transfer to the accounts maintained by you to any bank branches in India instantly by RTGS through major Commercial Banks.