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    Bank offer RTGS facility to its customers. 

    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 to be remitted through RTGS is 2.00 lac. 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.

    Value Band

    Revised Charges
    w.e.f. 15.11.2010

    Charges for RTGS :


    Rs 2 lakhs
    to Rs 5 lakhs

    Rs 25.00 per
    transaction +
    Service tax at 12.36 %

    Above Rs 5

    Rs 50.00 per
    transaction +
    Service tax at 12.36 %


    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 75,000 branches of 100 Banks participate.


    Charges for NEFT


    Value Band

    New charges (excl. of service tax at 12.36%) w.e.f. 01/08/2012


    Amounts upto 10,000



    Amounts from 10,001 to 1 lac



    Amounts above 1 lac to 2 lac



    Amounts above 2 lac