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SBI RTGS

SBI RTGS Details

Last Updated 18th Jun 2021

SBI 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 SBI branch
Online- Mobile/ Net Banking
Transfer Limit Net Banking- ₹ 10 Lakhs
Bank Branch - No limit
Transfer Charges Net Banking- Nil
Bank Branch - ₹ 25 to ₹ 56
Transfer Timings 24*7- Mobile & Internet Banking,7:00 am to 6:00 pm (Monday to Friday & working Saturday)
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    What is SBI RTGS ?

    SBI RTGS or Real Time Gross Settlement is the transfer of money from SBI 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 SBI 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 SBI RTGS Facility?

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

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

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

    • Visit the nearest SBI Bank branch and get the RTGS form from SBI 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 SBI bank official will then process your payment.

    How to Transfer Funds Through SBI RTGS Netbanking?

    If you want to transfer money through SBI 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.

    SBI RTGS Charges

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

    Net Banking Nil
    Bank Branch ₹ 25 to ₹ 56

    SBI RTGS Timings

    If you want to ensure that the transactions are processed immediately, you should transfer funds through SBI RTGS within time frame as mentioned below:

    Mobile & Internet Banking 24*7- Mobile & Internet Banking,7:00 am to 6:00 pm (Monday to Friday & working Saturday)

    SBI RTGS Limit

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

    Minimum Amount ₹ 2 Lakh
    Maximum Amount ₹ 10 Lakhs

    FAQs

    What is RTGS transfer in SBI?

    SBI 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 SBI?

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

    How can I transfer more than 1 lakh in SBI?

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

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

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

    Can I transfer 1 crore through RTGS ?

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


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