RTGS Charges: Check Out RTGS Transfer Charges

RTGS charges are the fees applicable when using the Real Time Gross Settlement system for transferring high-value funds between bank accounts. Online RTGS transactions through internet and mobile banking are exempt from charges as per RBI guidelines. RTGS transaction charges may apply for offline or branch-based transfers.

Key Highlights

• Online Charges: RTGS transfers through internet and mobile banking are free.
• Offline Charges: Applicable for branch-based transfers within RBI limits.
• Charge Slabs: Up to ₹25 for ₹2–5 lakh and up to ₹50 for above ₹5 lakh.
• GST Applicability: GST is charged only on applicable service fees.

RTGS Charges

RTGS charges depend on how the transfer is initiated. As per RBI guidelines, online RTGS transactions through internet and mobile banking are free. Charges may apply only for branch-based transfers, based on the transaction amount and bank policies.

What are the Applicable Fees for RTGS Transactions?

RTGS charges depend on the mode of transfer. Online transactions are generally free, while branch-based transfers may have charges based on the transaction amount.

I. Online RTGS Charges

RTGS transactions made through internet or mobile banking do not have any charges, as per RBI guidelines.

II. Offline RTGS Charges

Charges apply to RTGS transactions initiated at bank branches and are based on the transfer amount:

• ₹2 lakh to ₹5 lakh: Up to ₹25 + GST
• Above ₹5 lakh: Up to ₹50 + GST

These are RBI-prescribed limits, and actual charges may vary slightly across banks.

RTGS Charges For Top Indian Banks

RTGS charges vary slightly across banks, especially for branch-based transfers. While most banks offer free online RTGS, offline charges are applied within RBI-prescribed limits and may differ based on internal policies.

SBI RTGS Charges​

Branch-based RTGS charges at State Bank of India are as follows:

• ₹20 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹40 + GST for transactions more than ₹5 lakh.

RTGS Charges HDFC

HDFC Bank applies a flat fee for branch-based RTGS transactions:

• ₹15 + GST per transaction

RTGS Charges ICICI

Branch-based RTGS transactions at ICICI Bank are charged as follows:

• ₹20 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹45 + GST for transactions more than ₹5 lakh.

PNB RTGS Charges​

Punjab National Bank follows standard slab-based pricing for branch RTGS:

• ₹24.50 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹49.50 + GST for transactions more than ₹5 lakh.

Bank of Baroda RTGS Charges

Bank of Baroda applies time-based charges for branch RTGS:

Thus, the RTGS charges for transactions through offline modes include the following: 

• ₹25 to ₹30 + GST for ₹2 lakh to ₹5 lakh (based on time slot)
• ₹55 to ₹61 + GST for above ₹5 lakh (based on time slot)

Canara Bank RTGS Charges

Branch RTGS charges at Canara Bank are:

• ​₹24.50 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹49.50 + GST for transactions more than ₹5 lakh.

Axis Bank RTGS Charges​

Axis Bank applies the following charges for branch-based RTGS:

• ​₹25 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹50 + GST for transactions more than ₹5 lakh.

Indian Bank RTGS Charges​

Branch RTGS transactions at Indian Bank are charged as:

• ​₹25 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹50 + GST for transactions more than ₹5 lakh.

Union Bank RTGS Charges

Union Bank of India follows time-based pricing for branch RTGS:

• ₹25 to ₹30 + GST for ₹2 lakh to ₹5 lakh
• ₹50 to ₹55 + GST for above ₹5 lakh

BOI RTGS Charges​

Branch-based RTGS at Bank of India is charged as:

• ​₹25 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹49 + GST for transactions more than ₹5 lakh.

IOB RTGS Charges​

Indian Overseas Bank applies slab-based charges for branch RTGS:

• ₹24 (incl. GST) for ₹2 lakh to ₹5 lakh
• ₹49 (incl. GST) for above ₹5 lakh

UCO Bank RTGS Charges

​UCO Bank levies zero RTGS charges for online fund transfers. However, charges for RTGS transactions through offline methods from UCO Bank include the following:

• ​₹24.50 + GST for transactions between ₹2 lakh to ₹5 lakh.
• ₹49.50 + GST for transactions more than ₹5 lakh.

Bank of Maharashtra RTGS Charges

Bank of Maharashtra does not charge for online RTGS transfers. Charges apply for branch-based transactions based on amount and time.

• ₹25 to ₹30 + GST for ₹2 lakh to ₹5 lakh
• ₹50 to ₹55 + GST for transactions above ₹5 lakh

IDBI RTGS Charges

​IDBI or Industrial Development Bank of India does not feature any RTGS charges for inward transactions or fund transfers online. However, for branch-based transactions, the RTGS transaction charges of IDBI Bank include the following:

• Not exceeding ​₹30 for transactions between ₹2 lakh to ₹5 lakh.
• Not exceeding ₹55 for transactions more than ₹5 lakh.

Why Choose RTGS for High-Value Fund Transfers?

RTGS is designed for transferring large amounts where speed and reliability are important.

• Transactions are processed in real time and credited without delay.
• Suitable for high-value transfers where immediate settlement is required.
• Operates on a transaction-by-transaction basis without netting.
• Regulated by the Reserve Bank of India, ensuring a secure transfer process.
• Eliminates the need for physical instruments like cheques or demand drafts.

Tips for Cost-Effective RTGS Transactions

RTGS charges can be managed by choosing the right transfer method and understanding bank policies.

• Prefer online transfers, as they are generally free.
• Check bank-specific charges for branch-based transactions before initiating.
• Avoid splitting transfers unnecessarily, as charges apply per transaction in offline mode.
• Review account benefits or banking plans that may offer reduced or waived charges.

RTGS remains a reliable option for transferring high-value funds with clarity on charges and processing. Understanding when charges apply helps in making cost-effective transfer decisions.

Related Articles:
1. RTGS Limit
2. RTGS Timings
3. Differences between NEFT, RTGS and IMPS