SBI RTGS Charges 2023: Limits, Timings, and Charges

SBI RTGS Charges 2023: Limits, Timings, and Charges : The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is Rs 2 lakh. SBI RTGS form, including UBI RTGS form, is available for download in PDF format. With Real Time Gross Settlement (RTGS) you can transfer funds to any bank across India in real time. SBI RTGS timings are convenient, allowing you to initiate transactions during specified hours. With this service, your transactions are easier, and, with fewer restrictions, they reach further than before. State Bank of India is RTGS enabled and provides its customers RTGS service in a number of ways. Customers wanting to remit money through RTGS can do so by filling SBI RTGS Form. Check SBI RTGS charges for more information on the fees associated with this service.

What is RTGS?

State Bank of India’s Real-Time Gross Settlement (RTGS) is a nationwide payment system that enables one-to-one fund transfers. Through this system, individuals can electronically send money from any bank branch to another individual who holds an account with a different bank branch across the country, provided that both banks are participants in the RTGS Scheme.

Customer Benefits of RTGS

Customers can send money to accounts in other bank branches, and the funds are transferred instantly at minimal costs.

sbi bank rtgs form 2023

Click Here to Download SBI RTGS Form in Fillable PDF

There are two ways to access the State Bank of India RTGS service:

1. Online: This method involves using State Bank of India’s mobile and internet banking services. To complete the online form, you will need the following details:
   • Name and account number of the beneficiary
   • IFSC Code (Indian Financial System Code) of the beneficiary Bank/Branch
   • Select RTGS as the fund transfer type
2. Offline: This approach requires visiting a bank branch and filling out the UBI RTGS Form. The following information is needed to complete the offline form:
   • Name and account number of the beneficiary
   • IFSC Code (Indian Financial System Code) of the beneficiary Bank/Branch

Bulk upload service is also available at bank branches for corporate customers.

Minimum and Maximum Transfer Amounts

• Minimum: Rs. 200000
• Maximum: No Limit

SBI RTGS Charges

Mode of Transaction	Charges
Online modes (i.e. internet banking, iMobile app, Mera iMobile app, and Pockets app)	No Charges
Through branches
₹2 lakh up to ₹5 lakh:	₹5 lakh up to ₹10 lakh
(9 AM to 12 PM)	₹25
(12 PM to 3:30 PM)	₹26
(3:30 PM to 4:30 PM)	₹31

Sending Payments via RTGS in State Bank of India

To send a payment through sbi rtgs timings, you have two options:

1. RTGS via Bank Branch: If you prefer making an RTGS payment in person at a State Bank of India branch, follow these steps:
   • Visit your nearest State Bank of India branch.
   • Request an RTGS Form or Slip.
   • Fill in all the required details on the RTGS Form.
   • Submit the completed form to the cashier.
   • Your bank branch will then process the payment to the recipient, and it will be completed within 2 working hours.
2. RTGS Via Internet Banking: Alternatively, you can send money via RTGS using your State Bank of India Internet Banking Service. Here’s how to do it:
   • Log in to the State Bank of India website.
   • Add a new beneficiary.
   • After adding the beneficiary, you’ll be able to make payments via RTGS.
   • Online RTGS is available for all State Bank of India customers who have full transaction rights.
   • If you want to access the State Bank of India RTGS Facility, you can either download the application form or visit your nearest State Bank of India branch to submit the completed form.
   • If you are already a State Bank of India Connect customer with “view rights” and wish to have full transaction rights, please resubmit your application form to your base branch.

1. Log in to your State Bank of India Retail NetBanking account.
2. On the left-hand side navigation bar, find and click on “Other Bank Transfer – RTGS” under the Funds Transfer section.
3. Fill in all the necessary details, including the transfer amount, destination account number, IFSC Code, beneficiary name, and payment details. Once you’ve accurately filled in these details, a unique transaction confirmation number will be generated. This number should be noted for any inquiries related to this specific transaction.

Timings for SBI RTGS

Here are the operating hours for State Bank of India RTGS:

• Monday to Friday: 8:00 AM to 4:20 PM. Bulk RTGS Files should be uploaded before 3:50 PM for same-day processing.
• Saturday (except 2nd & 4th Saturdays): 8:00 AM to 4:20 PM. Bulk RTGS Files should be uploaded before 3:50 PM.
• Sunday is a holiday.

When Will the Funds be Credited to the Recipient’s Account?

• State Bank of India RTGS operates 24/7, all year round.
• Confirmed transactions are promptly debited from the sender’s account and processed. Transactions initiated before the cutoff time are completed on the same day.
• Transactions made outside RTGS operating hours and on RTGS holidays will be processed (for onward transfer to the beneficiary bank) on the next working day. Please ensure sufficient funds in your account to facilitate the transaction. If you are attempting a retry, verify the status of your previous transaction.
• It’s important to note that once the amount is debited and processed by State Bank of India, the crediting of the funds into the beneficiary’s account depends on the recipient’s bank.

Cut off time for remittance through State Bank of India RTGS

Typically, in regular situations, the recipient branches should receive the funds immediately when they are transferred by the sending bank. The beneficiary bank is required to credit the beneficiary’s account within 30 minutes upon receiving the funds transfer message. sbi rtgs form

What is the Timeframe for Scheduling an RTGS Transaction?

You can schedule an RTGS transaction in advance with a time frame of 3 working days. This can be used for various transactions such as:

• Cash Management Transfer
• Hedging
• Interest
• Loan
• Securities
• Supplier Payment
• Tax Payment
• Trade
• Trade Settlement Payment
• Value Added Tax Payment

If none of the above-mentioned options are relevant to your transaction, please choose “Cash Management Transfer” as the default option.

Differences Between RTGS and NEFT

Differences Between RTGS and NEFT and Benefits of State Bank of India RTGS:

• Both RTGS (Real Time Gross Settlement) and NEFT are facilitated by RBI for online funds transfer among member banks.
• Effective from November 15, 2010, RTGS is available for transactions of Rs.2,00,000/- and above. For transactions below this limit, NEFT should be used.

Benefits of State Bank of India RTGS

• State Bank of India RTGS is available to all, including both existing and new Net banking users.
• The facility is simple, convenient, quick, and secure, allowing users to transfer funds to beneficiaries in other banks in a seamless manner.
• Funds transfer to other banks is faster, secure, and safe.
• Customers can use State Bank of India RTGS anytime, anywhere, from home or office, saving time and energy.
• SBI RTGS costs less than conventional remittance methods such as DD/MT.

FAQ