REAL TIME GROSS SETTLEMENT SYSTEM (RTGS)
 

Lakshmi Vilas Bank is proud to offer Real Time Gross Settlement System (RTGS) facility, which enables an efficient, secure, economical and reliable system of transfer of funds between accounts of customers of different Banks. 

 Features and Benefits:

• An electronic payment system in which payment instructions between banks are processed and settled individually and continuously, on a real time basis, throughout the day.
• Available for transaction value of Rs.1.00 Lakh and above.
• LVB Customers can get new banking services based on reliable high value funds transfer system.
• No courier/postal charges payable by customers.
• Secured Transfer of funds across the Banks.
• Funds transferred under RTGS will be credited to the beneficiary’s account within 2 hours.
• RTGS facility is available in all the branches of our Bank.

 Information required for Transfer of funds:

• Sender’s Account number
• Sender’s Name
• Amount of Transaction
• Beneficiary Account number
• Beneficiary Name
• Beneficiary Bank Name
• Beneficiary Branch Name
• IFSC of the receiving branch. (IFSC is printed on cheque leaves or available in RBI Website.
• Sender to receiver information, if any

 Transaction Limits:

 Charges:

• Inward Remittance: No Charge
• Outward Payments:
  ::Rs.1 Lakh to 5 Lakhs -Rs.25/- per transaction
  ::Rs.5 Lakh and above -Rs.50/- per transaction
  

 Transaction Hours:

• The RTGS service for customer's transactions is available from 9.00 hours to 16.30 hours on week days(Monday-Friday) and from 9.00 hours to 1.30 noon on Saturdays .
• RTGS system work on all days except on Sundays and common National Holidays across the states.
• The request for RTGS will be accepted up to 15 minutes before the cut off timings at our Branches.
  

 Other Links:

Frequently Asked Questions