Charges Levied By State Bank Of India For Instant Money Transfers

State Bank of India (SBI) offers the facility of Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) service for transfer of funds, or money, from one account to another through computer-based systems. SBI also charges certain fee per transaction for these money transfer services. These charges depend on the type of money transfer and factors such as amount and time of transaction. The user may choose one of these technologies as per his or her money transfer requirements..Here are different charges levied by SBI on IMPS, NEFT, RTGS transactions:.Immediate Payment Service (IMPS) .Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service. The facility is available to all registered users of 'SBI Anywhere Personal' having transaction rights on one or more accounts, said country's largest lender on its website- onlinesbi.com. This facility allows the customer to transfer funds on a 24x7 basis and 365 days of the year. However, the maximum amount that be transferred is Rs 2 lakh. This facility is available only via internet banking, the bank said. National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS)..table.tab_1 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 14px; } table.tab_1 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tab_1 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; } table.tab_1 th:nth-child(1), table.tab_1 td:nth-child(1) { width: 40%; text-align: left; } table.tab_1 th:last-child, table.tab_1 td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.tab_1 { display: table; min-width: 280px; max-width: 100%; } table.tab_1 th, table.tab_1 td, table.tab_1 th:nth-child(n+1), table.tab_1 td:nth-child(n+1) { display: table-cell; line-height: normal; } table.tab_1 th:last-child, table.tab_1 td:last-child { border-right: 0;} } . No Amount Charge 1 Up to Rs.1000/- No Charges 2 Rs.1001 to Rs 10,000/- Rs.1/- + GST 3 Rs.10,001 to Rs 1,00,000/- Rs.2/- + GST 4 Rs 1,00,001 to 2,00,000/- Rs.3/- + GST .(As mentioned on SBI's website- sbi.co.in).National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS).National Electronic Funds Transfer (NEFT) allows for electronic transfer of funds from bank branch to any individual having an account with any other bank branch in the country participating in this scheme. NEFT transactions are settled in batches. Reserve Bank of India (RBI) acts as the service provider and transfers the credit to other bank's account. Currently, NEFT operates in hourly batches on all working days including working Saturdays, noted SBI..Real Time Gross Settlement (RTGS) is a system where the processing of funds transfer instructions takes place at the time they are received. The RTGS system is the fastest possible interbank money transfer facility available through secure banking channels in India, mentioned SBI. Under normal circumstances the beneficiary bank branch receives the funds in real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to credit the beneficiary's account within two hours of receiving the funds transfer message, SBI mentioned..Minimum/maximum amount for RTGS/NEFT transactions:.table.tab_2 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 14px; } table.tab_2 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tab_2 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; } table.tab_2 th:nth-child(1), table.tab_2 td:nth-child(1) { width: 40%; text-align: left; } table.tab_2 th:last-child, table.tab_2 td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.tab_2 { display: table; min-width: 280px; max-width: 100%; } table.tab_2 th, table.tab_2 td, table.tab_2 th:nth-child(n+1), table.tab_2 td:nth-child(n+1) { display: table-cell; line-height: normal; } table.tab_2 th:last-child, table.tab_2 td:last-child { border-right: 0; } } . Minimum / Maximum amount for RTGS / NEFT transactions under retail internet banking Type Minimum Maximum RTGS Rs. 2 Lakhs Rs. 10 Lakhs NEFT No Minimum Rs. 10 Lakhs . table.tab_6 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 14px; } table.tab_6 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tab_6 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; } table.tab_6 th:nth-child(1), table.tab_6 td:nth-child(1) { width: 40%; text-align: left; } table.tab_6 th:last-child, table.tab_6 td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.tab_6 { display: table; min-width: 280px; max-width: 100%; } table.tab_6 th, table.tab_6 td, table.tab_6 th:nth-child(n+1), table.tab_6 td:nth-child(n+1) { display: table-cell; line-height: normal; } table.tab_6 th:last-child, table.tab_6 td:last-child { border-right: 0;} } (As mentioned on SBI's website- sbi.co.in). Minimum / Maximum amount for RTGS / NEFT transactions under corporate Internet banking Type Minimum Maximum RTGS Rs.2 Lakhs Rs.50 lakhs for Vyapaar and Rs.2000 crores for Vistaar NEFT No Minimum Rs.50 lakhs for Vyapaar and Rs.2000 crores for Vistaar .table.tab_3 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 14px; } table.tab_3 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tab_3 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; } table.tab_3 th:nth-child(1), table.tab_3 td:nth-child(1) { width: 40%; text-align: left; } table.tab_3 th:last-child, table.tab_3 td:last-child { border-right: 0; } .scroll { overflow: auto;} @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.tab_3 { display: table; min-width: 280px; max-width: 100%; } table.tab_3 th, table.tab_3 td, table.tab_3 th:nth-child(n+1), table.tab_3 td:nth-child(n+1) { display: table-cell; line-height: normal; } table.tab_3 th:last-child, table.tab_3 td:last-child { border-right: 0; } } . (As mentioned on SBI's website- sbi.co.in) Charges for NEFT are as listed in the following table: Item Transaction Slab Charges (exclusive of Goods and Service Tax) Internet banking charges (exclusive of Goods and Service Tax) NEFT Upto Rs 10,000 Rs 2.50 Rs 1 Upto Rs1 lakh Rs 5.00 Rs 2 Above Rs 1 lakh to 2 lakh Rs 15.00 Rs 3 Above Rs 2 lakh Rs 25.00 Rs 5 .table.tab_5 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 14px; } table.tab_5 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tab_5 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; } table.tab_5 th:nth-child(1), table.tab_5 td:nth-child(1) { width: 40%; text-align: left; } table.tab_5 th:last-child, table.tab_5 td:last-child { border-right: 0; } .scroll { overflow: auto;} @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.tab_5 { display: table; min-width: 280px; max-width: 100%; } table.tab_5 th, table.tab_5 td, table.tab_5 th:nth-child(n+1), table.tab_5 td:nth-child(n+1) { display: table-cell; line-height: normal; } table.tab_5 th:last-child, table.tab_5 td:last-child { border-right: 0; } } . (As mentioned on SBI's website- sbi.co.in) Charges for RTGS are as listed in the following table: RTGS Transactions Amount (in Rs.) Existing Charges for Branch (exclusive of Goods and Service Tax) Rate for internet banking channel (exclusive of Goods and Service Tax) From 2 lac to 5 lac Rs.25/- Rs.5/- Above 5 lac Rs.50/- Rs.10/- (As mentioned on SBI's website- sbi.co.in) Other banks in the country also offer these fund transfer services that enable the customer to make a wire transfer, or online money transfer.

Charges Levied By State Bank Of India For Instant Money Transfers

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