INSUBCONTINENT EXCLUSIVE:
NEFT RTGS money transfer: The bank usually charges a fee for providing instant money transfer servicesWondering about the charges you have
to pay the bank for making an instant money transfer NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement) and IMPS
(Immediate Payment Service) are three popular money transfer services offered by most banks today
The bank charges a fee for making a wire transfer, also known as electronic transfer, through NEFT, RTGS or IMPS services under certain
State Bank of India (SBI), Bank of Baroda, ICICI Bank and Canara Bank, for example, charge a fee ranging from Rs 3 to Rs 15 per transaction
from their customers for making a money transfer of Rs 1 lakh-Rs 2 lakh through NEFT
(Read: What are NEFT, RTGS, IMPS transactions)State Bank of India (SBI) NEFT/RTGS transactions made onlineFor transactions made through net
banking or mobile banking, SBI charges a fee of Rs 1 (plus GST) per NEFT transaction of an amount up to Rs 10,000
For amounts between Rs 10,000 and Rs 1 lakh, SBI charges Rs 2 (plus GST), and Rs 3 (plus GST) for amounts between Rs 1 lakh and Rs 2 lakh
For transfers above Rs 2 lakh, SBI charges a fee of Rs 5 (plus GST) per transaction
In case of money transfer through RTGS, SBI charges Rs 5 per transaction for an amount between Rs 2 lakh and Rs 5 lakh
For amounts above Rs 5 lakh, the bank charges a fee of Rs 10 per transaction, according to the bank's websiteSBI NEFT/RTGS transactions
made through a bank branchFor transactions made by way of visiting a bank branch, SBI charges a fee of Rs 2.5 (plus GST) per NEFT
transaction up to Rs 10,000
For amounts between Rs 10,000 and Rs 1 lakh, the bank charges Rs 5 (plus GST) per transaction
For amounts between Rs 1 lakh and Rs 2 lakh, SBI charges Rs 15 (plus GST) per transaction
In case of RTGS transfers, SBI charges a fee of Rs 25 (plus GST) per transaction for an amount between Rs 2 lakh and Rs 5 lakh
For amounts above Rs 5 lakh, SBI charges a fee of Rs 50 (plus GST) per transaction, according to the bank's website
SBI currently charges a fee of Rs 1 (plus taxes) per transaction for money transfer of an amount between Rs 1,001 and Rs 10,000 through
IMPS, according to the SBI website.SBI IMPS transactions up to Rs 1,000 are free, according to the bank's website
This includes IMPS transactions made through a bank branch as well as those made online (through either mobile banking or net banking).Bank
of BarodaFor making a money transfer through NEFT, Bank of Baroda charges a fee of Rs.15 per transaction for amounts between Rs.1 lakh and
For amounts above Rs 2 lakh, the bank charges Rs 25 per transaction
Transactions up to Rs 1 lakh do not attract any charges, according to the bank's website.For money transfer of an amount between Rs 2 lakh
and Rs 5 lakh through RTGS, Bank of Baroda charges a fee of Rs 25 (excluding GST) per transaction from 8:00 am to 11:00 am
From 11:00 am to 1:00 pm, the bank charges Rs 27 per transaction, and Rs 30 per transaction after 1:00 pm.For RTGS remittances of an amount
above Rs 5 lakh, Bank of Baroda charges a fee of Rs 50 per transaction between 8:00 am and 11:00 am, Rs 52 per transaction between 11:00 am
and 1:00 pm, and Rs 55 per transaction after 1:00 pm, according to the bank's website.Oriental Bank of Commerce (OBC) charges for NEFT and
RTGS money transferFor money transfer through NEFT, Oriental Bank of Commerce (OBC) charges no additional fee for transactions up to Rs 1
For amounts between Rs 1 lakh and Rs 2 lakh, the bank charges a fee of Rs 10 (plus taxes) per transaction
For amounts above Rs 2 lakh, OBC charges a fee of Rs 25 (plus taxes) per transaction, according to its website - obcindia.co.in.In case of
RTGS, the bank charges a fee of Rs 25 (plus taxes) per transaction for the money transfer service for an amount between Rs 2 lakh and Rs 5
For amounts above Rs 5 lakh, the bank charges a fee of Rs 50 (plus taxes) per transaction, according to its website.HDFC Bank money transfer
onlineHDFC Bank currently charges no fee for NEFT and RTGS transactions made online, according to its website.HDFC Bank money transfer
through bank branchFor money transfers made through bank branches, HDFC Bank charges a fee of Rs 2.5 plus GST per transaction of amount up
to Rs 10,000 in case of NEFT
For amounts between Rs 10,000 and Rs 1 lakh, HDFC Bank charges Rs 5 plus GST per transaction
In case of RTGS money transfers, HDFC Bank charges a fee of Rs 25 plus GST per transaction between Rs 2 lakh and Rs 5 lakh
For transactions above Rs 5 lakh, State Bank of India (SB) charges Rs 50 plus GST per transaction, according to the bank's website.HDFC
Bank IMPS transactionsHDFC Bank levies a fee of Rs 5 plus GST per IMPS transaction of an amount up to 1 lakh
For amounts between Rs 1 lakh and Rs 2 lakh, HDFC Bank charges a fee of Rs 15 plus GST, according to its website.ICICI BankICICI Bank
charges a fee of Rs 2.5 plus GST per transaction for money transfer of an amount of Rs 10,000 through NEFT
For amounts between Rs 10,000 and Rs 1 lakh, ICICI Bank charges a fee of Rs 5 plus GST per transaction
For amounts between Rs 1 lakh and Rs 2 lakh, ICICI Bank levies a fee of Rs 15 plus GST per transaction
For amounts between Rs 2 lakh and Rs 10 lakh, the bank levies a fee of Rs 25 plus GST per transaction
In case of RTGS transactions, ICICI Bank charges Rs 25 plus GST per transaction of an amount between Rs 2 lakh and Rs 5 lakh
For amounts between Rs 5 lakh and Rs 10 lakh, the bank charges Rs 50 plus GST per RTGS transaction.For IMPS transfers, ICICI Bank charges a
fee of Rs 5 plus GST per transaction for amounts up to Rs 1 lakh
For amounts between Rs 1 lakh and Rs 2 lakh, ICICI Bank levies Rs 15 plus GST per transaction.Canara Bank NEFT and RTGS chargesFor RTGS
transactions of amounts between Rs 2 lakh and Rs 5 lakh, Canara Bank charges a fee of Rs 27 per transaction (excluding taxes) between 11:am
Canara Bank charges a fee of Rs 30 per transaction for such money transfers between 1:00 pm and 4:30 pm, according to its website
For RTGS transactions above Rs 5 lakh, the bank levies a fee of Rs 52 per transaction between 11:00 am and 1:00 pm
For transactions made between 1:00 pm and 4:30 pm, the bank charges Rs 55 per transaction
There are no charges for RTGS transactions made between 8:00 am and 11:00 am, according to Canara Bank's website.For NEFT transfers,
Canara Bank charges a fee of Rs 2.5 per transaction for amounts up to Rs 10,000
For amounts ranging from Rs 10,001 to Rs 1 lakh, Canara Bank levies a fee of Rs 5 per transaction
NEFT transfers of amounts between Rs 1 lakh and Rs 2 lakh are charged at Rs 15 per transaction, and amounts above Rs 2 lakh at Rs 25 per
transaction, according to Canara Bank's website.
