SBI online net banking: State Bank of India is a member of payments systems such as NEFT and IMPSSBI or State Bank of India - the country's largest bank - is a member of multiple payments systems.
From National Electronic Funds Transfer (NEFT) to Immediate Payment Service (IMPS) and Real-Time Gross Settlement (RTGS), SBI customers can remit funds using one of these payments systems.
NEFT operates on a deferred net settlement basis, meaning the transactions are settled in batches as opposed to the continuous, individual settlement in RTGS, according to SBI's corporate website, sbi.co.in.
In RTGS, the processing of funds transfer instructions takes place at the time they are received (real time).TimingsNEFT timingsSBI has listed the following timings for the settlement of NEFT transactions (in batches):* Settlements on weekdays at hourly intervals from 8:00 am to 7:00 pm* Settlements on Saturdays at hourly intervals from 8:00 am to 1:00 pmRBI settlement timingsDayStart timeEnd timeMonday to Friday08:00 hrs19:00 hrsSaturday08:00 hrs01:00 hrs(Source: sbi.co.in)IMPS timingsIMPS inward and outward transactions are available 24X7, without any holiday restrictions, according to SBI's internet banking portal, onlinesbi.com.RTGS timingsSBI has listed the following schedule for sending RTGS transactions to the RBI:RBI settlement timings for transactions (other than interbank transactions)DayStart timeEnd timeMonday to Friday08:00 hrs16:30 hrsSaturday08:00 hrs02:00 hrs(Source: sbi.co.in)( All you need to know about SBI basic account | small account | savings plus account)ChargesNEFT chargesFor transactions at branches:Transaction amountCharges (excluding taxes)Up to Rs 10,000Rs 2.50Above Rs 10,000 up to Rs 1.00 lakhRs 5Above Rs 1.00 lakh up to Rs 2.00 lakhRs 15Above Rs 2.00 lakhRs 25(Source: sbi.co.in)For transactions through net banking/mobile banking:Transaction amountCharges (excluding taxes)Up to Rs 10,000Rs 1Above Rs 10,000 up to Rs 1.00 lakhRs 2Above Rs 1.00 lakh up to Rs 2.00 lakhRs 3Above Rs 2.00 lakhRs 5(Source: sbi.co.in)RTGS chargesFor transactions at branches:Transaction amountCharges (excluding taxes)Up to Rs 1,000NilFrom Rs 1,001 to Rs 1,00,000Rs 5From Rs 1,00,001 to Rs 2,00,000Rs 15(Source: sbi.co.in)For transactions through net banking/mobile banking:Transaction amountCharges (excluding taxes)Rs 2.00 lakh to Rs 5.00 lakhRs 5Above Rs 5.00 lakhRs 10(Source: sbi.co.in)IMPS chargesFor transactions at branches:Transaction amountCharges (excluding taxes)Up to Rs 1,000FreeFrom Rs 1,001 to Rs 10,000Rs 1From Rs 10,001 to Rs 1,00,000Rs 2From Rs 1,00,001 to Rs 2,00,000Rs 3(Source: sbi.co.in)For transactions through net banking/mobile banking:Transaction amountCharges (excluding taxes)Up to Rs 1,000NilFrom Rs 1,001 to Rs 1,00,000Rs 5From Rs 1,00,001 to Rs 2,00,000Rs 15(Source: sbi.co.in)( ATM charges levied by State Bank of India, other major lenders)