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Home » Services » Miscellaneous Services » RTGS/NEFT


Real Time Gross Settlement (RTGS)

The acronym "RTGS" stands for Real Time Gross Settlement. RTGS system is a funds transfer mechanism where transfer of money takes place from one bank to another on a "real time" and on "gross" basis. This is the fastest possible money transfer system through the banking channel. Settlement in "real time" means payment transaction is not subjected to any waiting period. The transactions are settled as soon as they are processed. "Gross settlement" means the transaction is settled on one to one basis without bunching with any other transaction. Considering that money transfer takes place in the books of the Reserve Bank of India, the payment is taken as final and irrevocable.

The RTGS system is primarily for large value transactions. The minimum amount that can be remitted through RTGS is 2 lakhs. There is no upper ceiling for RTGS transactions. RTGS eliminates settlement risk.

The system has also stabilized over the years and has been witnessing increased coverage in terms of bank branches and transaction volume. The volume of RTGS transactions is increasing rapidly.

Charges for RTGS:

Value Band Charges (w.e.f. 15.11.2010)
RTGS Rs 2 lakhs to Rs 5 lakhs Rs 25.00 per transaction + Service tax
Above Rs 5 lakhs Rs 50.00 per transaction + Service tax

National Electronic Fund Transfer (NEFT)

NEFT is an electronic payment system to transfer funds from one account to another, between NEFT participant bank branches in India. The NEFT system operates on a deferred net settlement basis (DNS), in which transactions are settled in batches. It is a risk free, secure and reliable mode for transfer of funds of any amount, in which more than 120,000 branches of 150 Banks participate

Charges for NEFT

Value Band Charges w.e.f. 01/08/2012
NEFT Amounts upto 10,000 Rs 2.50 per transaction + Service tax
Amounts from 10,001 to 1 lakh Rs 5.00 per transaction + Service tax
Amounts above 1 lakh to 2 lakhs Rs 15.00 per transaction + Service tax
Amounts above 2 lakhs Rs 25.00 per transaction + Service tax


(Inclusive of full working Saturdays)*
Bank Cut-off Timings
RTGS 8:00 a.m. to 4:30 p.m. 4:15 p.m.
NEFT 8.00 a.m. to 7:00 p.m.
In 12 hourly settlements
6:30 p.m.

*As per RBI


  • Customers using the Internet Banking facility to enter RTGS / NEFT transactions, should kindly note that transactions entered after the cut-off time will be processed on the next RTGS/NEFT Business working day.
  • In the event of unforeseeable circumstances, that any RTGS / NEFT transactions are not processed, the amount of the transaction will be reversed to the Originator’s Account. Customers may contact their respective Home Branch for further details with respect to the transaction.
  • The RTGS and NEFT Systems will not be operating on Second and Fourth Saturdays of every month with effect from 1st September 2015.

Customer Facilitation Centres - NEFT & RTGS
List of All Centers

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