Reserve Bank of India have decided to revise the charges for all outward transactions on RTGS w.e.f 01.10.2011 in terms of their circular No.RBI/2011-12/166 DPSS (CO) RTGS No.388/04.04.002/2011-12 dated 5th September 2011 and advised all the Banks in India to prominently display these RTGS/NEFT charges and timings at all their branches .
As per the guidelines the customers are to be provided with the discretion to select either RTGS or NEFT as per their convenience. These facilities are to be made available to the customers on all Bank working days at the branches.
The Features of RTGS/NEFT schemes are as under:
|1.||a)||Minimum Amount||Rs.2,00,000/-||No minimum amount|
|b)||Maximum Amount||No Limit||No Limit|
|2.||RBI Settlement Timings||Start Time||End Time||Start Time||End Time|
|a)||Monday to Friday||9:00 hrs||16:30 hrs||9:00 hrs||19:00 hrs|
|b)||Saturday||9:00 hrs||13:30 hrs||9:00 hrs||13:00 hrs|
REVISED RTGS TIME VARYING CHARGES
SBI has accordingly revised the charges for outward RTGS transactions which are as under :
|Block||Time of settlement at the RBI||Total Charges per Transaction for Outward Transactions.|
|01.||09.00 hours||12.00 hours||Rs 2.00 lakhs to Rs 5.00 Lakhs||25/-||25/-|
|Above Rs 5.00 lakhs||50/-||51/-|
|02.||After 12.00 hours||15.30 hours||Rs 2.00 lakhs to Rs 5.00 lakhs||26/-||26/-|
|Above Rs 5.00 lakhs||51/-||52/-|
|03.||After 15.30 hours||16.30 hrs (on week days)||Rs 2.00 lakhs to Rs 5.00 lakhs||30/-||31/-|
|Above Rs 5.00 lakhs||55/-||56/-|
NEFT – Charges per Transaction for Outward Transactions:
|Value Band||Existing Charges||Revised Charges|
|Up to Rs. 10,000||5||2.50|
|Above Rs.10,0000 to Rs. 1 lakh||5||5|
|Above Rs. 1 lakh to Rs. 2 lakhs||15||15|
|Above Rs. 2 lakhs||25||25|
2. The information required to be submitted by the customer to transfer funds using these payment systems are as under:
• Amount to be remitted
• Account no. to be credited
• Name of the beneficiary bank
• Name of the beneficiary customer
• Sender to receiver information, if any
• IFSC code of the receiving branch.
• Mobile number of the remitter.
To download RTGS/NEFT Application Form : Click here