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Kotak Bank RTGS

Kotak Bank RTGS Details

Last Updated 08th Jun 2021

Kotak RTGS or Real Time Gross Basis is the inter-banking facility that allows you to transfer funds instantly on a one to one basis.

Transfer Modes Offline- Visiting Kotak branch
Online- Mobile/ Net Banking
Transfer Limit Net Banking- ₹ 10 Lakhs
Bank Branch - No limit
Transfer Charges Net Banking-
Bank Branch - Rs2 Lakhs to 5 Lakhs- Rs.20+ GST & Above Rs. 5 Lakhs- Rs.40+ GST
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    What is Kotak RTGS ?

    Kotak Bank RTGS or Real Time Gross Settlement is the transfer of money from Kotak bank to another bank on a real-time or gross basis. The term 'Real-time' means that the payment is made instantly without any delay. The gross settlement means the money is transferred on one to one basis. Presently, there are 140,000 RTGS-enabled bank branches in India. To transfer money through Kotak RTGS, you would require the following details of the recipients.

    • The amount of transfer
    • The account number
    • Recipient and bank name
    • The recipient IFSC code

    How to Use Kotak RTGS Facility?

    If you want to transfer funds using the Kotak RTGS facility, you can do it by visiting the Kotak Bank through offline mode or else you can transfer funds online through Kotak net banking facility.

    How to fill Kotak RTGS Form & Transfer Money through Kotak RTGS Offline?

    To fill Kotak RTGS form & transfer money through Kotak RTGS you need to follow the steps as mentioned below:

    • Visit the nearest Kotak Bank branch and get the RTGS form from Kotak Bank representative.
    • Now, fill all the required details such as the date, amount for fund transfer as mentioned in the form.
    • Next, add your account details, details of cheque including date and the serial number of the cheque, account number and the IFSC code of the beneficiary.
    • Finally, sign the form to authorize the payment for transferring the funds. The Kotak bank official will then process your payment.

    How to Transfer Funds Through Kotak RTGS Netbanking?

    If you want to transfer money through Kotak RTGS netbanking you need to follow the steps as mentioned below:

    • Firstly, log in your SBI Net Banking Portal by using your User Name and Password.
    • Now, under the "Payments/Transfer" tab, choose the appropriate fund transfer option.
    • On the next page, now choose the type of transaction and click on "Proceed".
    • Now, select the account from which the funds need to be transferred.
    • Next, enter the amount, purpose of the transfer and also choose the beneficiary account for transferring the money.
    • After verifying all the details, check the terms and conditions box and click on "Submit".
    • On the next page, verify all the details and click on "Confirm".
    • Finally, enter the password sent to the registered mobile number and click on "Confirm". You will now receive the confirmation message on your screen.

    Kotak RTGS Charges

    Kotak Bank levies following charges for fund transfer through Kotak RTGS.

    Bank Branch Rs2 Lakhs to 5 Lakhs- Rs.20+ GST & Above Rs. 5 Lakhs- Rs.40+ GST

    Kotak RTGS Limit

    Kotak RTGS transactions are primarily for high-value transactions. The limit for Kotak RTGS fund transfer is mentioned in the table below:

    Minimum Amount ₹ 2 Lakh
    Maximum Amount ₹ 10 Lakhs

    FAQs

    What is RTGS transfer in Kotak?

    Kotak RTGS is the inter-banking transfer facility to transfer funds on a real-time gross basis. Real-time gross means the funds are transferred instantly on one to one basis.

    What are the RTGS charges in Kotak?

    There are charges for RTGS fund transfer through mobile and internet banking. However, Kotak levies charges ranging from Nil to ₹ 15 + Applicable GST, if you want to do RTGS fund transfer through Kotak branch.

    How can I transfer more than 1 lakh in Kotak?

    You can transfer money through Kotak NEFT or Kotak IMPS facility if you want to transfer more than ₹ 1 Lakh.

    How much time does it take for RTGS transfer in Kotak?

    It takes around 30 minutes for RTGS fund transfer in Kotak. However, to ensure the processing of fund transfer in the same time frame you should fill RTGS form as per Kotak branch working timings.

    Can I transfer 1 crore through RTGS ?

    Yes, you can transfer ₹ 1 Cr through Kotak RTGS by visiting the Kotak bank branch as there is no upper limit for fund transfer through RTGS.


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