- Personal
- Making payments
- Fund Transfer
- RTGS funds transfer
‘Real Time Gross Settlement’, RTGS, is the fastest possible money transfer system through the banking channel. Because settlements are made in real time, transactions are not subject to any waiting periods. With RTGS, transferring money becomes an easier, faster process.
What is RTGS Funds Transfer?
An inter-bank funds transfer system that makes transactions in ‘real time’
What are the benefits?
- Speed – transfers in real-time
- Faster settlement cycles – no more inter-bank or clearing house settlement issues
- Wider boundaries – no geographical limitations within India
Get Started
Expand All
RTGS Funds Transfer process
RTGS Funds Transfer is both fast and convenient.
- Go to Third Party Funds Transfer and select ‘Transfer to other bank (using RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable.)’
- Add the beneficiary’s details
- Complete the transfer details (the sender and recipient information)
- Confirm your transaction
Is there a fee?
RTGS transactions are charged as below:
- Rs 2 lakh to Rs 5 lakh - Rs. 25 (inclusive of taxes) per transaction
- Above Rs 5 lakh - Rs. 50 (inclusive of taxes) per transaction
Note: Charges for RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. transactions done through Net Banking are not applicable for Current Accounts: Apex / Max / Plus / Merchant Advantage Plus / Flexi / Trade / Merchant Advantage / Premium / Regular.
Important Instructions
The Funds transfer request through RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. NetBanking mode can be made only from 9am to 3.30pm, from Monday to Friday and from 9am to 12.30pm on Saturdays.
There will be no RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. transactions possible on Bank holidays and Sundays.
The money will reach the Beneficiary's Bank within the time stipulated by RBI.
Contact Details of Customer Facilitation Centre for redressal of your RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. related complaints
Have questions?
How do I check the IFSC of the receiving branch?
Just ask your beneficiary to get the IFSC from his or her branch. They can also find it in their cheque book - the IFSC is in the cheque leaf.
What information do I need to provide when using the RTGS funds transfer service?
When using RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. Funds Transfers, there are a few essential details to provide:
- Amount to be remitted
- Account number from where the funds will be debited
- Name of the beneficiary bank, and the name of the beneficiary customer
- Account number of the beneficiary customer
- Sender to receiver information, if there is one
- The IFSC code of the receiving branch
If the money is not credited successfully, will the remitting customer get the funds back?
With RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable., the receiving bank should credit the account of the beneficiary instantly. If for some reason the money cannot be credited, the receiving bank has to return the money to the remitting bank within two hours. As soon as the money is returned, the original debit entry in the customer's account is reversed.
How long does it take for funds to be transferred from one account to another?
Real-time means that beneficiary branches are expected to receive the funds as soon as they are transferred by the remitting bank. The beneficiary bank must credit the beneficiary's account within two hours of receiving the funds transfer message.
Are there minimum or maximum limits for RTGS transfers?
The RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. system has been designed for large value transactions.
The minimum amount to be remitted through RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. is Rs. 2 Lakhs. There is no upper ceiling for RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. transactions.
The only change to this is RTGSIt stands for Real Time Gross Settlement. It means that funds transfers happen immediately, in real time. Instructions are processed at the time they are received rather than later. 'Gross Settlement' means the settlement of funds transfers occur on an instruction by instruction basis. This is considering that the funds settlement take place in the books of the Reserve Bank of India, the payments are final and irrevocable. transactions done through NetBanking, when the maximum amount of funds that can be transferred per Customer ID per day is Rs. 10 Lakhs.
Expand All
Tired with loan procedures? Get a hassle free Home Loan.
![//Properties/Data/Datum[@ID='D01']/DCR/FooterNavigation/ssl/@title](/assets/images/verisign.gif)