J&K bank offers Real Time Gross Settlement (RTGS) payments and collections as a speedy, convenient, cost-efficient and secure method to move large value funds across the country. This offering is based on Reserve Bank of India's (RBI) RTGS payment system.

  • RTGS is applicable for payouts in excess of 200,000

  • Smooth, safe and fastest mode of transferring money across the banks in India

  • RBI's RTGS guidelines require the beneficiary bank to credit the beneficiary's account or return the funds, within a maximum time of 2 hours

  • RTGS is an effective collections mechanism as funds from across the country can be collected & credited to your account on the same day

  • An efficient mechanism for outstation payments and collections. Payments can be made to or received from across the country on a same-day basis

  • Efficient working capital management by enabling negotiation of better terms with suppliers & by facilitating speedy collection of funds

  • Simplifies account reconciliation due to predictability of funds flow

  • Savings of time and cost involved in physical dispatch of cheques to beneficiaries, deposits of cheques by beneficiaries with their banks & clearing of these cheques

  • Reduced chances of frauds typically associated with paper-based payments

  • The RTGS cut-off timing for the customer and interbank transactions are as under :

  Days Customer Transaction Interbank Transaction
  Monday-Saturday 8:00 to 16:15 hours 8:00 to 19:30 hours
  • Except 2nd and 4th Saturday
  • The Charges for customer payments are as:


Settlement time at RBI

Transaction Slab

Charges

Time varying tariff (TVT)

ST on charges (J&K)

@ 12.60%

ST on TVT (all over India) @ 14.50%

ST on charges (out of J&K)

Max customer charges exclusive of ST

Max

Customer

charges

(J&K)

Max

customer charges (outside J&K)

From

To

800 Hrs

1100 Hrs

2 to 5 Lakh

25

0

3.15

0

3.63

25

28.15

28.63

above 5 Lakh

50

0

6.3

0

7.25

50

56.30

57.25

1100 Hrs

1300 Hrs

2 to 5 Lakh

25

2

3.15

0.29

3.63

27

30.44

30.92

above 5 Lakh

50

2

6.3

0.29

7.25

52

58.59

59.54

1300 Hrs 

1630 Hrs

2 to 5 Lakh

25

5

3.15

0.725

3.63

30

33.88

34.35

above 5 Lakh

50

5

6.3

0.725

7.25

55

62.03

62.98

After 1630 Hrs

2 to 5 Lakh

20

10

2.52

1.45

2.90

30

33.97

34.35

above 5 Lakh

45

10

5.67

1.45

6.53

55

62.12

62.98

  • All transactions initiated through eBanking  are free and no additional charges are imposed.

J&K Bank offers National Electronic Fund Transfer (NEFT) payments as a speedy, convenient, cost-efficient and secure mechanism to move funds across the country. This offering is based on RBI's NEFT system.

  • BI's NEFT guidelines mandate the beneficiary bank to credit the beneficiary's account or return the funds, within the same day for transactions processed before a stipulated cut-off time
  • Smooth, safe and fastest mode of transferring money across the banks in India

  • There is no floor or cap on the amount of transfer in NEFT, means you can transfer from an amount as small as one rupee to any amount

  • NEFT is an effective collections mechanism as funds from across the country can be collected & credited to your account on the same day

  • Efficient mechanism for outstation payments and collections. Payments can be made to or received from across the country on a same-day basis

  • Over 1,00,000+ bank branches participate in NEFT (as on Feb 2014)

  • Efficient working capital management by enabling negotiation of better terms with suppliers and by facilitating speedy collection of funds

  • Simplifies account reconciliation due to predictability of fund flow

  • Savings of time and cost involved in physical dispatch of cheques to beneficiaries, deposits of cheques by beneficiaries with their banks & clearing of these cheques

  • Reduces chances of frauds typically associated with paper-based payments

  •   The NEFT cut-off timings are as under : 
 

Days

NEFT Transaction Hours

 

Monday-Saturday

8:00 hours to 18:30 hours

  • Except 2nd and 4th Saturday
  • NEFT transactions are settled in batches based on the following timings:

    • 12 settlements per day on working days - at 08:00, 09:00, 10:00, 11:00, 12:00, 13:00, 14:00, 15:00, 16:00, 17:00, 18:00 and 19:00 hrs.

  • The Charges for customer payments are as:

    Up to   10,000/-

     2.50 +S.tax

    Above 10,000/- to 1 lakh

     5 +S.tax

    Above  1 lakh up to 2 lakh

     15 +S.tax

    Above  2 lakh

     25 +S.tax

  • All transactions initiated through eBanking  are free and no additional charges are imposed.
Details of J&K Bank CFC is as:

NEFT Back Office Operations,
Ground Floor, J&K Bank,
Corporate Head Quarters, 
M A Road, Srinagar J&K 190001
EPBAX Numbers: (+91- 0194) 2481930-2481935 Ext 1045, 1046
Direct: +91-8803001937
Email: NEFTServices@jkbmail.com; neft@jkbmail.com
Click here to view RBI CUSTOMER FACILITATION CENTRE -NEFT