RTGS Transaction Charges

RTGS Charges

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RTGS Fees and Charges

Real-Time Gross Settlement, or RTGS, is a payment system that allows the interbank transfer of funds between two accounts. These transactions are processed in real-time and the settlement of funds happens individually on a gross basis and not in batches. While there are no charges applicable for receiving money through RTGS fund transfers, you would have to pay a fee for initiating one.

 

What are the Applicable Charges on RTGS?

In an effort to make the online transfer of money popular, RBI has waived off RTGS charges for transactions made via netbanking and mobile apps. As a result, if you send money using RTGS via online channels now, you will not be charged a processing fee. However, for offline RTGS transactions initiated via bank branches, you might be required to pay a certain amount as transaction charge. You would also need to pay the applicable GST on the transferred sum. It is important to note that the RTGS charges for offline transactions vary from bank to bank.

RTGS Charges Levied by Top Banks

As mentioned above, RTGS payment charges for transactions made offline vary. Internally too, there are set transaction limits beyond which the RTGS service charges change. It is, therefore, important for you to check what your bank charges for RTGS transfer before initiating a transaction request.

HDFC Bank RTGS Charges

Transaction Type

Amount

RTGS Transaction Charges

Online RTGS Transactions

No limit

No online RTGS charges

RTGS transactions at branches

₹2 lakh to ₹5 lakh

₹25 + GST

Above ₹5 lakh

₹50 + GST

Axis Bank RTGS Charges

Transaction Type

Amount

RTGS Transfer Charges

Online RTGS Transactions

No limit

No online RTGS charges

RTGS transactions at branches

₹2 lakh to ₹5 lakh

₹25 + GST

Above ₹5 lakh

₹50 + GST

RBL Bank RTGS Charges

Transaction Type

Amount

RTGS Transaction Charges

Online RTGS Transactions

No limit

No online RTGS charges

RTGS transactions at branches

₹2 lakh to ₹5 lakh

₹20 + GST

Above ₹5 lakh

₹40 + GST

Apart from RTGS, you can also use IMPS or NEFT to transfer money from one account to another. The NEFT transfer limit and NEFT fees and charges will, however, be different from that of RTGS as will be the IMPS transfer limit and IMPS fees and charges. You can check out the difference between IMPS vs NEFT vs RTGS and select a mode that suits you best!

Frequently Asked Questions

  • ✔️What is the basic amount charged for RTGS?

    There are no charges applicable on RTGS transactions initiated via online channels. However, offline, i.e. at bank branches, certain set RTGS fees may be applicable depending on the amount you wish to transfer. The lowest amount you are likely to be charged for RTGS transactions is ₹20.

  • ✔️Is there any additional fee to be paid to perform an RTGS transaction?

    Apart from the RTGS processing fee, you will need to pay the applicable GST charges too.

  • ✔️Will I be charged extra to make an RTGS transfer online?

    You are not required to pay any charges for RTGS transactions done online.

  • ✔️Is GST applicable on RTGS charges?

    Yes, for RTGS transactions, GST charges are applicable.