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What is RTGS Transfer?

RTGS, which stands for Real-Time Gross Settlement, facilitates immediate and direct money transfers from one bank account to another. RTGS transfer is ideal for transferring amounts that are equal to or more than ₹2 Lakhs in real-time. RTGS does not adhere to a specific processing schedule, which enables instant settlement of money.


With RTGS, you experience quick and smooth transfer of money since every transaction you make gets immediately processed. It is a considered as a safe method of transferring money since it is managed by the Reserve Bank of India (RBI). 


Read on to learn more about how you can transfer money through RTGS and much more.

RTGS Online Transfer Process

Check out the steps that you need to follow for an online RTGS transfer.

  • Step 1: Visit your bank’s official website and log in to your Net banking account using your ID and password.

  • Step 2: Add the beneficial account details if you have not added it and authenticate it with the OTP sent to you.

  • Step 3: Proceed to the RTGS transactions section and input the required information, such as the payment amount, debit account number and remarks.

  • Step 4: Submit the request by agreeing to the terms and conditions and clicking on ‘Confirm’.

  • Step 5: Confirm your transaction and the funds will get transferred to the beneficiary’s account.

RTGS Transfer Process Offline

Here are the steps that you need to follow to initiate an RTGS fund transfer offline.

  • Step 1: Visit the nearest bank branch and obtain the RTGS form.

  • Step 2: Write the date of the transaction and the amount.

  • Step 3: Fill in the cheque details, your personal details and the beneficiary’s details carefully, including the IFSC code of the beneficiary’s account.

  • Step 4: Attach a cheque leaf from your account with the beneficiary’s details written on the back and other information written on the front.

  • Step 5: Submit the RTGS form to a bank representative, who will verify your details and process your RTGS transfer.

Features and Benefits of RTGS Transactions

Real-Time Gross Settlement or RTGS transfers, offer a host of different features and benefits compared to other forms of electronic fund transfers. Let’s take a look at a few of the key ones. 

1. Reliable 

The technology used for RTGS transfers has been designed and operated by the Reserve Bank of India. Therefore, it is super reliable, with little to no downtime and 24/7 availability. 

2. Safe and Secure 

All the transfers made through Real-Time Gross Settlement require authentication via OTP, which is only sent to the registered mobile number. This makes these transactions very safe and secure.

3. Ideal for Transferring High-Value Amounts 

The minimum transfer limit for RTGS is ₹2 Lakhs, with no ceiling on the maximum limit of transfer. This makes it perfect for transferring large amounts from one account to another.

4. Instant Credit 

Since RTGS transfers are executed on an individual, real-time basis, the account gets credited instantly.

What is the Approximate RTGS Transfer Time?

RTGS transfers typically get processed in seconds. This is because the aim of the system is to ensure that fund transfers are processed instantly so that the beneficiary account can be credited immediately. 


Sometimes, however, in case of technical challenges, the RTGS transfer time can extend to a few minutes. It might be helpful to note that the RBI has made it mandatory for beneficiary banks to credit the beneficiary account within 30 minutes of receiving the transferred funds.

What to Keep in Mind Before Initiating an RTGS transfer?

To ensure that the RTGS fund transfer process can be completed without any hiccups, you need to keep a few things in mind:

  • Ensure that your bank and the beneficiary’s bank are RTGS-enabled

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

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

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


You must have access to the below-mentioned information:

  • Beneficiary’s bank name

  • Beneficiary’s branch name

  • Beneficiary’s customer name

  • Beneficiary’s account number

  • Beneficiary’s bank branch IFSC Code

  • Amount to be transferred

Steps for RTGS Money Transfer Process of Top Banks

Check out the steps that you need to follow to carry out NEFT transfers through different banks.

1. State Bank of India (SBI) RTGS Transfer Procedure

  • Step 1: Log in to the State Bank of India (SBI) net banking portal using your credentials.

  • Step 2: Check under ‘Profile’, and select the ‘Manage Beneficiary’ option.

  • Step 3: Select ‘Inter-Bank Payee’ from the options provided.

  • Step 4: Select the ‘Add’ option.

  • Step 5: Enter the beneficiary details, such as name, account number, branch address, and the Interbank RTGS maximum amount transfer limit in the relevant fields.

  • Step 6: Enter the beneficiary bank’s IFSC code.

  • Step 7: Accept the terms and conditions and click on ‘confirm’.

  • Step 8: Authorise with the OTP sent to you, and the beneficiary will be added within 16 hours.


Once the beneficiary is updated, you can initiate an RTGS instant transfer by following the steps mentioned below:

  • Step 1: Visit the ‘Payments/Transfers’ tab, select the ‘Inter-Bank Transfer’ option to initiate an RTGS online transfer.

  • Step 2: Choose RTGS account transfer as your preferred mode.

  • Step 3: Choose the beneficiary account from the list.

  • Step 4: Fill in the RTGS transfer details: amount, account to debit, remarks, etc.

  • Step 5: Accept the terms and conditions.

  • Step 6: Click on ‘confirm’.

2. HDFC Bank RTGS Fund Transfer Process

  • Step 1: Visit the HDFC Bank official website.

  • Step 2: Login using your credentials and click on ‘Fund Transfer’.

  • Step 3: Add the beneficiary details, i.e. bank account number, bank name, branch IFSC code, etc.

  • Step 4: Wait for the beneficiary to get added, and initiate an RTGS bank transfer by clicking on ‘Transfer to other bank’.

  • Step 5: Choose the beneficiary from your list.

  • Step 6: Select the debit account and fill in the relevant fields.

  • Step 7: Click on ‘confirm’.

3. Kotak Bank RTGS Fund Transfer Process

  • Step 1: Log into your Kotak Bank Net banking account.

  • Step 2: Go to ‘Payment & Transfer’ section and click on ‘Manage Beneficiary’.

  • Step 3: Choose ‘Inter’ or ‘Intra’ bank payee as per your need and add his/her details such as name, IFSC code, Bank name etc.

  • Step 4: Click ‘Confirm’ and continue, then you will get an OTP.

  • Step 5: Enter OTP to activate the beneficiary to your account. Once the beneficiary is added, you can proceed with RTGS transfer.

4. ICICI Bank RTGS Fund Transfer Process

  • Step 1: Log into ICICI Bank internet banking/imobile.

  • Step 2: Go to the ‘Funds Transfer’ option.

  • Step 3: Add account name, amount to be transferred and other details.

  • Step 4: Select the payment option as ‘RTGS’.

  • Step 5: Review the details that you entered and proceed to ‘Confirm’.

  • Step 6: Enter OTP to authenticate payment and proceed with funds transfer.

5. Axis Bank RTGS Fund Transfer Process

  • Step 1: Go to the Axis Bank Net banking account.

  • Step 2: Choose the ‘Funds Transfer’.

  • Step 3: Select ‘Other Bank Account’ and click on ‘Make Payment’.

  • Step 4: Select the RTGS option and enter details such as beneficiary name, bank’s IFSC code, transfer amount, etc.

  • Step 5: Enter the OTP which you received on your mobile to authenticate the RTGS transfer.


The minimum amount you can transfer through RTGS has been set at ₹2 lakhs by the RBI. However, the maximum amount you can transfer through RTGS varies from bank to bank. You can check the RTGS transfer limit of your bank before initiating a transaction.


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, and so will 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!

Read More

How to Resolve Queries for RTGS Transfer?

Banks provide various customer query resolution setups for issues related to RTGS transfers. Some of the options that you can utilise for your issues with RTGS transactions are:

  • Customer care helpline number

  • SMS service

  • Chatbots

  • Email services


Alternatively, you can also visit the nearest branch of the bank and place a query regarding your RTGS transfers.

FAQs on RTGS Transfer

Can I make RTGS transfers on bank holidays or weekends?

Yes, as per the recent RBI guidelines, the RTGS fund transfer facility is available 24x7, including weekends and bank holidays. 

What is inter-bank fund transfer?

Inter-bank fund transfer refers to the transfer of funds between an account at one bank to another account in the same bank but at a different branch or another bank. The debit account is known as the account of the remitter, and the credit account is known as the account of the beneficiary. 


NEFT, RTGS, and IMPS are some of the popular inter-bank fund transfer systems.

How much time does it take for an RTGS transfer?

For RTGS transfers, the time taken for processing is almost nil. This is because RTGS fund transfers are processed on a gross basis and not in batches. Sometimes, however, in case of technical difficulties, the RTGS fund transfer time can stretch to a few minutes. 

Are fees and charges applicable every time I make an RTGS payment?

Yes, you may be required to pay certain RTGS fees and charges, as specified by your bank, for availing the RTGS transfer facility.


What is the difference between RTGS and NEFT?

Real-Time Gross Settlement, also known as RTGS, is vastly different from National Electronic Fund Transfer, also known as NEFT. One of the primary points of difference is in the time that it takes to credit the destination account.


RTGS transfers are instant, whereas NEFT transfers take anywhere from an hour to two for the destination account to get credited. Secondly, RTGS is more suited for large transactions of ₹2 lakhs and above, whereas NEFT is ideal for both small and large transactions since it has no minimum transfer limit.

Do all banks in India have an RTGS facility?

No, not all banks in India are RTGS enabled. That said, all the major private and public sector banks support Real-Time Gross Settlements. If you wish to make an RTGS transfer, it is a good idea to check whether your bank supports it before proceeding to effect the same.

Is it possible to schedule an RTGS transaction in advance?

Yes, you can schedule an RTGS transfer well in advance. At the scheduled date and time, the transfer will be effected automatically without the need for any manual intervention.


Can RTGS transfers be made on bank holidays and Sundays?

Yes, RTGS transfers can be made on all 24 hours of all days, including bank holidays and Sundays. However, there might be a small window each day between 11:30 PM and 00:30 AM, during which it might not be operational due to maintenance activities.


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