Charges Levied By Top Lenders For Real-Time Gross Settlement (RTGS) Payments

Real Time Gross Settlement or RTGS, a payment system, is primarily meant for large value transactions. Most banks across the country today offer the service of RTGS but levy certain charges. State Bank of India (SBI) and ICICI Bank, for example, charge a fee ranging from Rs 50 to Rs 56 per transaction from their customers for making a money transfer of more than Rs 5 lakh through RTGS. Recently, the Reserve Bank of India (RBI) - which manages the RTGS payments system - has announced an extension in the timings applicable to RTGS transfers by one-and-a-half hours. The extended window for RTGS will be applicable from June 1..Given below are the charges levied by SBI, ICICI Bank and HDFC Bank for money transfer service RTGS:.State Bank of India (SBI).Here are the existing RTGS timings and other charges applicable to SBI customers, for making fund transfers within the bank's network as well as to other banks: table.tble_sbi_1 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; margin-bottom:20px; } table.tble_sbi_1 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_sbi_1 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_sbi_1, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_sbi_1, thead, tbody, th, td, tr { font-size: 14px; } table.tble_sbi_1 th { padding: 4px; } table.tble_sbi_1 td { padding: 4px; } .itctc_main { overflow-x:scroll;overflow-y:hidden;} } /*Media Query END*/ . Time of settlement at the RBI Transaction Slab Charges From To 9:00 hours 12:00 hours Rs 2.00 lakh to Rs 5.00 lakh Rs 25 Above Rs 5.00 lakh Rs 51 After 12:00 hours 15:30 hours Rs 2.00 lakh to Rs 5.00 lakh Rs 26 Above Rs 5.00 lakh Rs 52 After 15:30 hours 16:30 hours (on weekdays) Rs 2.00 lakh to Rs 5.00 lakh Rs 31 Above Rs 5.00 lakh Rs 56 (Source: sbi.co.in) .From June 1, 2019, the cut-off time for RTGS transactions will be 6:00 pm for customers. This means the RTGS transfers will be allowed to be initiated by a remitter till 6:00 pm, instead of 4:30 pm at present..ICICI Bank.Here are the existing RTGS charges applicable to ICICI customers, for making fund transfers within the bank's network as well as to other banks, according to bank's website- icicibank.com:.table.icici_rtgs { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 16px; } table.icici_rtgs th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; text-align: left; } table.icici_rtgs td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } table.icici_rtgs td:last-child, table.icici_rtgs th:last-child { border-right: none; } .scroll { overflow: auto; } @media (max-width : 480px) { table.icici_rtgs, thead.icici_rtgs, tbody.icici_rtgs, th.icici_rtgs, td.icici_rtgs, tr.icici_rtgs { font-size: 14px; } table.icici_rtgs th.icici_rtgs, table.icici_rtgs td.icici_rtgs { padding: 4px; } } . Transaction Charges RTGS Amounts from Rs 2 lakh and upto Rs 5 lakh Rs 25 + Applicable GST Amounts above Rs 5 lakh and upto Rs 10 lakh Rs 50 + Applicable GST .HDFC Bank HDFC Bank currently charges no fee for RTGS transactions made online, according to its website- hdfcbank.com.

Charges Levied By Top Lenders For Real-Time Gross Settlement (RTGS) Payments

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