RTGS Charges: What are RTGS Charges in 2025?
- Nimisha Panda
- Dec 12
- 9 min read
Introduction
When doing high-value transactions, it is crucial to comprehend the fees related to Real-Time Gross Settlement (RTGS) transfers. You may make wise choices and guarantee economical and successful money transfers by being aware of the fees. When transferring high-value money between bank accounts utilising the Real Time Gross Settlement system, there are fees known as RTGS charges. According to RBI norms, online RTGS transactions via the internet and mobile banking are free of fees. Offline or branch-based transfers may be subject to RTGS transaction fees.
Table of Contents
RTGS Charges
According to the latest guidelines mandated by the Reserve Bank of India (RBI), all online RTGS transactions made through mobile banking and net banking services are exempt from charges or processing fees. Certain charges are applicable to RTGS transactions made through offline modes. These charges may vary depending on the respective bank and the transaction amount, generally ranging from Rs. 20 to Rs. 50. GST applies to the transferred amount.
Applicable Fees for RTGS Transactions
Online transactions are free of RTGS transaction fees. The amount transferred and the bank account from which the transfer is made determine the RTGS fees for branch-based RTGS. The transaction amount usually determines the RTGS transaction fees. The following table illustrates them:
Transaction Amount | Applicable Charges |
Less than 2,00,000 | Nil |
Rs 2,00,000 to Rs 5,00,000 | Rs 24.50 + GST |
Above Rs 5,00,000 but less than Rs 10,00,000 | Rs 49.50 + GST |
It's crucial to remember that these are only recommendations; depending on their particular terms and conditions, banks may impose additional fees. Before starting an RTGS transaction, it's usually a good idea to ask your bank about the precise charges.
RTGS Charges for Top Indian Banks
Axis Bank RTGS Charges
If Axis Bank customers use the available online means to request financial transfers, they are not charged any RTGS fees. However, the following fees apply to branch-based transactions:
For transactions between Rs. 2 lakh and Rs. 5 lakh, the fee is Rs. 25 + GST
For transactions over Rs. 5 lakh, the fee is Rs. 50 + GST
Bank of Baroda RTGS Charges
For online money transfers, Bank of Baroda does not impose any RTGS fees, just like the majority of banking institutions. However, depending on the amount sent and the time of day, the bank charges fees for offline transactions. Therefore, the RTGS fees for offline transactions are:
For transactions between Rs. 2 lakh and Rs. 5 lakh conducted between 8 AM and 11 AM, the fee is Rs. 25 + GST. Transactions between 11 AM and 1 PM cost Rs. 27. After 1 PM, transactions will cost Rs. 30.
Transactions over Rs. 5 lakh between 9 AM and 12 PM cost Rs. 55 + GST; those between 12 PM and 3:30 PM cost Rs. 56; and those after 3:30 PM cost Rs. 61.
Bank of India RTGS Charges
Online fund transfer options are available to customers, and Bank of India does not impose RTGS fees for them. However, the bank imposes the following fees for offline transactions:
For transactions between Rs. 2 lakh and Rs. 5 lakh, the fee is Rs. 25 + GST.
For transactions over Rs. 5 lakh, the fee is Rs. 49 + GST.
Bank of Maharashtra RTGS Charges
Depending on the amount to be transferred, the time of day, and the form of transaction, Bank of Maharashtra imposes RTGS transaction fees. Consequently, the following are included in the charges:
Transactions between Rs. 2 lakh and Rs. 5 lakh performed offline between 8 and 11 AM cost Rs. 25, while internet transactions cost Rs. 5. Rs. 5 for online transactions and Rs. 27 for offline transactions between 11 AM and 1 PM. After 1 PM, offline transactions cost Rs. 30, while internet transactions cost Rs. 5.
Rs. 50 for offline transactions over Rs. 5 lakh between 8 and 11 a.m. and Rs. 5 for internet transactions. Transactions performed offline between 11 AM and 1 PM cost Rs. 52, while internet transactions cost Rs. 10. Transactions conducted offline after 1 PM cost Rs. 55, while internet transactions cost Rs. 10.
Canara Bank RTGS Charges
For transactions completed online, Canara Bank does not impose any RTGS fees. However, the bank charges the following RTGS fees depending on the amount to be transferred:
For transactions between Rs. 2 lakh and Rs. 5 lakh, the fee is Rs. 24.50 + GST.
For transactions over Rs. 5 lakh, the fee is Rs. 49.50 + GST.
HDFC RTGS Charges
When transactions are made online, HDFC Bank does not impose any RTGS fees, regardless of the amount to be sent. However, branch-based RTGS is subject to a flat fee of Rs. 15 + GST.
ICICI RTGS Charges
Online RTGS transactions are available to customers at no cost. Nonetheless, the following fees apply to branch-based transactions:
For transactions between Rs. 2 lakh and Rs. 5 lakh, the fee is Rs. 20 + GST.
For transactions over Rs. 5 lakh, the fee is Rs. 45 + GST.
IDBI RTGS Charges
The Industrial Development Bank of India, or IDBI, does not charge RTGS fees for online financial transfers or inward transactions. However, IDBI Bank's RTGS transaction fees for branch-based transactions consist of the following:
For transactions between Rs. 2 lakh and Rs. 5 lakh, the maximum amount is Rs. 30.
For transactions above Rs. 5 lakh, the maximum amount is Rs. 55.
Indian Overseas Bank RTGS Charges
Indian Overseas Bank (IOB) offers free RTGS transactions via online channels. As a result, the following points highlight the RTGS transaction fees that apply to offline transactions:
For transactions up to Rs. 10,000, the fee is Rs. 1.50 per transaction, excluding GST.
For transactions over Rs. 10,000 and up to Rs. 1 lakh, the fee is Rs. 4 per transaction, excluding GST.
For transactions over Rs. 1 lakh and up to Rs. 2 lakh, the fee is Rs. 14 per transaction, excluding GST.
For transactions totalling more than Rs. 2 lakh to Rs. 5 lakh, the fee is Rs. 24 per transaction, including GST.
For transactions above Rs. 5 lakh, the price is Rs. 49 per transaction, including GST.
SBI RTGS Charges
The State Bank of India (SBI) does not impose any fees on online RTGS transactions. However, when clients choose to transfer RTGS funds offline, the bank levies costs, which include the following:
For transactions between Rs. 2 lakh and Rs. 5 lakh, the fee is Rs. 20 + GST.
For transactions over Rs. 5 lakh, the fee is Rs. 45 + GST.
UCO Bank RTGS Charges
For online money transfers, UCO Bank charges no RTGS fees. However, UCO Bank imposes the following fees for RTGS transactions made offline:
For transactions between Rs. 2 lakh and Rs. 5 lakh, the fee is Rs. 24.50 + GST.
For transactions over Rs. 5 lakh, the fee is Rs. 49.50 + GST.
Union Bank RTGS Charges
Only offline transactions at Union Bank are subject to the RTGS fees for fund transfers. All internet fund transfers are free to process and settle. The charges are as follows:
For transactions between Rs. 2 lakh and Rs. 5 lakh conducted between 8 AM and 11 AM, the fee is Rs. 25 + GST. Transactions between 11 AM and 1 PM cost Rs. 27. After 1 PM, transactions will cost Rs. 30.
For transactions over Rs. 5 lakh conducted between 8 and 11 AM, the fee is Rs. 50 + GST. Transactions between 11 AM and 1 PM cost Rs. 52. After 1 PM, transactions will cost Rs. 55.
Tips for Cost-Effective RTGS Transfers
When transferring large amounts of money, it is always prudent to choose RTGS transactions. Nonetheless, you can learn about practical advice for reducing RTGS transaction fees by consulting the following points:
Choose Online Transfers: The Reserve Bank of India's new regulations state that RTGS transactions conducted online are free of fees. Therefore, sending money online is the best choice if you want your fund transfer to be economical.
Compare the Fees of Different Banks: It is crucial to keep in mind that different banks have different RTGS fees. The amount to be transferred and the bank from which you start the transaction procedure are the two main factors that cause them to vary from bank to bank. Therefore, it is advisable to check whether various banks offer RTGS fees on their official websites.
Examine the Discounts Offered: Higher transaction amounts may occasionally result in discounts or waived fees from different financial institutions. Consumers can benefit from these savings by combining many transactions into one.
Look for Preferred Banking Solutions: To lower the costs associated with RTGS transactions, certain banks provide preferential pricing on their bundled banking solutions. You may occasionally be able to perform RTGS transactions for free by taking advantage of these advantages.
Difference Between RTGS and Other Fund Transfer Methods
RTGS is frequently compared with alternative fund transfer options like NEFT and IMPS by numerous companies and individuals. All three systems enable digital transactions, although they differ in terms of transaction limitations, settlement method, and speed.
Compared to RTGS, NEFT settles payments in batches at predetermined intervals, which may cause delays. RTGS, on the other hand, completes every transaction instantly.
IMPS has a Rs. 5 lakh transaction cap but permits instant transactions. However, RTGS is better suited for high-value transactions because it can process significantly larger payments without a cap.
Why Consider RTGS for High-Value Transfers
When conducting a high-value fund transfer, RTGS is the best choice for a number of reasons. Discover the causes by going over the following points:
Real-time fund transfer settlement is guaranteed via RTGS. All of your transactions are completed promptly, and the money is transferred to the recipient's account in two hours.
Time-sensitive transactions, such as emergency payments or real estate purchases, are appropriate for it.
RTGS is a secure choice when transferring big amounts of money because it offers improved security when settling transactions.
On a gross basis—that is, with regard to a single transaction without netting off against other transactions—these are electronically led through a settlement procedure.
The Reserve Bank of India oversees and manages RTGS transactions, which is one of the primary reasons for their preference. As a result, the Central Bank will oversee all RTGS transactions and guarantee a correct transfer of funds. Therefore, the likelihood of unauthorised access to cash is very low.
Conclusion
RTGS is a dependable, quick, and safe way to transmit large amounts of money. It continues to be a top choice for both consumers and businesses because of its real-time settlement, round-the-clock accessibility, and no fees for online transactions. Offline RTGS fees vary based on the bank and transaction amount; however, internet RTGS transactions are free. You can make more economical banking choices if you are aware of the RTGS fees and RTGS transaction fees in advance.
Frequently Asked Questions
Are there any charges for RTGS?
When you want to do transactions online, RTGS transfers are typically free. You should be aware, too, that there are fees associated with offline RTGS transfers, depending on the amount being sent and the bank from which the transaction is initiated.
Is RTGS transfer free?
Generally speaking, RTGS transfers are only free when you transact online. Depending on the amount to be moved and the bank from which you started the transaction process, you will be charged specific fees whenever you use offline modes for RTGS transfers.
What are the RTGS charges for 1 lakh?
For RTGS transactions up to Rs. 1 lakh, banks usually don't charge. To verify these charges, though, you must contact the relevant bank.
What are the RTGS charges for 10 lakhs?
Banks typically charge Rs. 49.50 + applicable GST for financial transfers up to Rs. 10 lakhs, while RTGS fees may differ based on the bank you start the transaction from.
What are the RTGS charges for 50 lakhs?
A typical fee for RTGS transactions over five lakhs is between Rs. 40 and Rs. 50. It's important to keep in mind, though, that RTGS fees might vary depending on a number of variables, including the amount to be moved and the bank from which the funds are being transferred. Therefore, it is usually preferable to make sure that the bank gives such important information in advance.
How much does an RTGS transfer cost?
Online transactions involving RTGS transfers are free. However, depending on the amount to be moved and the bank from which you start the transaction procedure, you will be charged specific fees if you choose to use offline modes for RTGS transfers.
What is the fee charged for RTGS?
Depending on the amount to be transferred and the bank from which you start the transaction procedure, the costs associated with RTGS transactions typically vary. Generally, transactions under Rs. 2,00,000 are free of fees. An approximate fee of Rs. 24.50 + applicable GST would be applied to transactions between Rs. 2,00,000 and Rs. 5,00,000. Lastly, there will be an approximate fee of Rs. 49.50 + applicable GST for transactions over Rs. 5,00,000 but under Rs. 10,00,000.
Is GST applicable to RTGS transactions?
Depending on the amount to be transferred, the Reserve Bank of India has ordered that GST be applied to RTGS transactions. However, transfers totalling more than Rs. 2,00,000 are liable to GST.
What is cheaper, NEFT or RTGS?
In general, NEFT is less expensive than RTGS, particularly for smaller transactions. RTGS usually has higher costs and is intended for high-value transfers. For exact costs, check with your bank.
How are RTGS charges calculated?
The slab approach is typically used to determine RTGS charges, with various slabs having distinct charges. Moving up to Rs. 5 lakh, for instance, can be less expensive than moving between Rs. 5 lakh and Rs. 10 lakh.
Can the timing of an RTGS transaction influence the applicable charges?
For RTGS transactions completed during off-peak hours, some banks could provide reduced fees.
