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RTGS Transfer Timings

The Real Time Gross Settlement (RTGS) facility is a fund transfer service provided by banks for large-value transactions. There are no restrictions on RTGS timings, irrespective of the bank in which you have an account. The fund transfer facility is available round the clock, 24x7, on all 365 days of the year. So, you can instantly transfer large sums of money from your bank account to the beneficiary’s account via RTGS even on banking and national holidays. Generally, the minimum amount you can transfer via the RTGS facility is ₹2 Lakhs. The maximum amount varies from one bank to another.

What is the RTGS Settlement Time?

RTGS transactions occur in real-time, so the time taken to process such a transaction is usually a few minutes. To ensure there are no delays in the amount being credited to the beneficiary account, RBI has made it mandatory for banks to strictly adhere to the RTGS processing time. In fact, all RTGS transactions are required to be cleared within a maximum of 30 minutes after receiving a transfer request. A confirmation SMS is also sent out notifying that the amount has been debited and will be credited shortly.

RTGS Transfer Timings of Top Banks of India

Below is a table stating the RTGS timings for online channels followed by some of the popular banks in the country.

Bank Name

RTGS time taken

HDFC Bank

Available 24x7 (except between 11.30 PM to 00:30 AM due to cut-off)

Axis Bank

8.00 am to 6.30 pm

ICICI Bank

Available 24x7

Kotak Bank

Available 24x7 (except between 11.30 PM to 00:30 AM due to cut-off)

Bank of Baroda

9.00 to 16.15 hours on Weekdays

9.00 to 13.15 hours on Saturday

SBI

Available 24x7 (except between 11.50 PM to 00:30 AM due to cut-off)

RBL Bank

Monday to Saturday till 5.30 pm (except the 2nd and 4th Saturday)

IndusInd Bank

Available 24x7

Standard Chartered Bank

Available 24x7

Punjab National Bank

Available 24x7

How to Minimise RTGS Transactions Time?

While RTGS, as a mode of fund transfer, is easy and hassle-free, you need to keep a few things in mind to ensure that the RTGS payment time is minimal.

  • Check if both your and the beneficiary’s banks are RTGS-enabled

  • Take note of the bank’s cut-off time as it can impact the RTGS transaction time

  • For online transactions, you must have an active net banking account

  • Ensure that you provide the correct details with regards to the beneficiary account as well as the debit account to reduce the RTGS processing time

What to do if RTGS Transaction is Not Cleared onTime?

Despite the transaction being initiated within the specified bank timings, in some cases, the RTGS transaction may fail to be processed and could get cancelled. This may occur for a variety of reasons, such as incorrect beneficiary account details, frozen account, wrong IFSC code entered, etc. The money debited from your account for such an RTGS transaction will be reverted within an hour or before the end of the RTGS closing time, whichever is earlier.

In case you fail to receive the money within the RTGS time window, you must immediately contact the Reserve Bank of India’s customer service department. There are two ways to do so:

1) Send a letter to the below-mentioned address stating your concern

The Chief General Manager,

Reserve Bank of India,

Customer Service Department,

1st Floor, Amar Building,

Fort, Mumbai,

Maharashtra 400 001

2) Write an email and send it to cgmcsd@rbi.org.in

Apart from RTGS, you can also use IMPS or NEFT to transfer money from one account to another. The NEFT timings, NEFT transfer limit, and NEFT fees and charges will, however, be different from that of RTGS, and so 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 the mode that suits you best!

FAQs about RTGS Timings

Yes, the RTGS timing has been updated by the Reserve Bank of India. Now, the service is available for 24 hours across 7 days a week.

Yes, as per the RBI circular on RTGS timings, the online RTGS service is available at all times, even at night. However, some banks adhere to an RTGS cut off time, which is usually between 11.30 PM to 00:30 AM.

As per Reserve Bank of India guidelines, the current RTGS timings are 24x7. However, the bank timings may vary slightly based on the cut-off time.

RTGS is ideal for high-value transactions. Moreover, the processing also occurs in real-time. There can be a maximum delay of 30 minutes between the transfer request being initiated and the beneficiary account being credited. If you wish to transfer a big amount, make sure to check out your bank’s RTGS limit.

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