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:
| 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-Â icicibank.com:
| 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-Â hdfcbank.com.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
-
Talking Points This Week: AI Cash Burn, A Tiger Comeback And An India That Still Finds Its Own Path
India is not immune to higher oil or tighter global liquidity, yet its earnings base is broader, its domestic policy levers are still available.
-
Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
-
'Never Seen This Level Of Negativity': Sandeep Tandon Says The Next Rally May Be Closer Than You Think
Veteran investor Sandeep Tandon says foreign selling is easing, large-caps are due a comeback and mid-caps are crowded, while he turns positive on gold, power and pharma this Diwali.
