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RTGS Timings

Last Updated 30th Oct 2020

  • RTGS is an interbank facility to transfer money on a real-time or gross basis.
  • The RTGS timings vary for branch transactions and transactions done online through net banking.
  • As per the RBI guidelines, you can transfer funds through RTGS from 7:00 am to 6:00 pm by visiting the bank branch.
  • For all inter-banking RTGS transactions, RTGS timings are from 7 am to 7:45 pm on all weekdays.
  • Some banks also allow transferring funds 24*7 through an Internet banking facility.
  • You can do RTGS transactions from 9:00 am to 2:00 pm on Saturdays. The timings may vary from bank to bank.
  • RTGS facility will be available 24*7 with effect from December 2020
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What is RTGS?

RTGS or Real Time Gross Settlement is an electronic method to transfer money from one bank to another bank on a real-time or gross basis within the country . The term 'Real-time' means that the payment is made instantly without any delay and may take around 30 minutes from receiving the request for remittance of funds. The gross settlement means the money is transferred on one to one basis.

Features & Benefits of RTGS

RTGS system is maintained by the Reserve Bank of India and provides the following features and benefits for fund transfer to the customers:

  • RTGS Minimum Amount: RTGS is meant for high-value transactions. The minimum limit for fund transfer under RTGS is ₹ 2 Lakh and you can transfer funds upto ₹ 10 Lakh per day.
  • RTGS Payments: The electronic method of RTGS fund transfer can only be used for making payments within the country as per the RTGS timings for fund transfer.
  • Instant Transfer: The transactions in RTGS are quick and done on a transaction to transaction basis in RTGS business hours, thus saving time.
  • Transfer Modes: You can transfer funds through RTGS by offline and online methods. To transfer funds offline, you need to visit the bank, and you can also transfer funds through net banking.
  • Risks: Further, there are no credit or settlement risks as funds are settled instantly on a real-time basis.

Information Necessary to Make RTGS Fund Transfer

If you want to transfer money through RTGS either through offline or online mode, you would require the following details of the recipients.

  • Beneficiary account number
  • Beneficiary account name
  • Beneficiary bank name and IFSC code
  • The amount of transfer
  • Cheque ( For offline mode)

Modes Available to Perform RTGS

There are two modes to transfer funds through RTGS

  • Internet banking: The first method for fund transfer through RTGS is by using the internet facility provided by most of the banks. To make fund transfer online through net banking, you need to add the beneficiary online by entering details about the bank account including bank name, IFSC code etc. After successfully adding the recipients, you can now transfer funds to the beneficiary.
  • Branch: You can also visit the nearest bank branch and fill the RTGS form to make fund transfer through RTGS. Finally, make the payment through cash or Cheque of the amount that you need to transfer.

How to make RTGS Funds Transfer Online?

To make RTGS funds transfer through online mode, you need to follow the below-mentioned steps:

  • Firstly, login net banking account of the bank using your login conditionals by officially visiting the bank website.
  • Now, add the beneficiary account details such as bank name, IMPS code, account name and number.
  • Next, select the RTGS mode under the Funds Transfer tab and enter the amount of fund transfer.
  • Finally, accept the terms and conditions as mentioned and submit the RTGS online form.

RTGS Timings

The timings for RTGS transactions vary from bank to bank. However, as per the RBI guidelines, you can perform RTGS transactions from 7 am to 6 pm, and the timings for all inter-bank transactions is from 7 am to 7:45 pm on all working days On Saturdays, the funds can be transferred from 9:00 am to 2:00 pm. However, in case of fund transfer through internet banking, some banks may also allow you to do transactions 24*7.

Real Time Gross Settlement - RTGS Limits

RTGS transfers are primarily for high-value transactions, and the minimum amount you can transfer via RGS is ₹ 2 Lakh. However, there is no upper limit for transferring money through RTGS by visiting the bank branch. In case, you do RTGS transfers through internet banking; you can send a maximum of ₹ 25 Lakh lakh per day per customer

Fees and Charges Applicable on RTGS

Most of the banks do not charge any fees for Online RTGS transactions done through mobile banking or internet banking. In the case of RTGS fund transfer by visiting the bank, the sender may incur certain charges depending on the transaction amount. For RTGS transactions of the amount between ₹ 2 Lakh to ₹ 5 Lakh, you will be charged ₹ 30 per transaction plus GST, and for all transactions above ₹ 5 Lakh, RBI has set a cap of Rs.55 per transaction plus GST.

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RTGS fund transfer to be available round-the-clock on all days from December 2020

  • RTGS new timings from December 2020
    As per the monetary policies announcement made on October 9, 2020, the Reserve Bank of India announced that with effect from December 2020 RTGS fund transfer facility could be accessed 24*7 on all days, irrespective of the bank timings or holidays. This has been done to implement easy online payment solutions for domestic business setups and institutions.


How long does an RTGS transfer take?

The funds are transferred instantly through RTGS on a transaction to transaction basis and may take around 30 minutes from receiving the request for remittance of funds.

What is RTGS and its advantages?

RTGS is an electronic method of inter-banking fund transfer on a real-time basis within 30 minutes of making a request for remittance. This method is quick and does not have any credit or settlement risks are funds as funds are settled instantly.

Can RTGS be done without Cheque?

Yes, RTGS fund transfer can be done through an internet banking facility or by paying cash by submitting the form offline through the nearest bank branch.

Can I do RTGS online?

Yes, you can transfer funds online through RTGS by visiting the official bank website and then logging the account using your credentials.

What is the RTGS limit?

To do RTGS transfer, the minimum amount that you need to transfer is ₹ 2 Lakh, however, there is no upper limit on transferring funds by visiting the bank branch. In case you transfer funds through net banking, you can transfer up to ₹ 25 Lakh

Can I transfer ₹ 1 Cr through RTGS?

Yes, you can transfer ₹ 1 Cr through RTGS as there is no upper ceiling on fund transfer through the bank branch.

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