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RTGS timing changed: Here's what you pay to SBI, HDFC, PNB, ICICI Bank for sending money

The Reserve Bank of India recently extended the timings for customer transactions through Real Time Gross Settlement (RTGS) system. With effect from June 1, the RTGS timings for customer transactions (initial cut-off) will be 6:00 pm, instead of the present 4:30 pm.

RTGS timing changed: Here's what you pay to SBI, HDFC, PNB, ICICI Bank for sending money
The Reserve Bank of India recently extended the timings for customer transactions through Real Time Gross Settlement (RTGS) system. Pixabay
By ZeeBiz WebTeam
Updated: Sun, Jun 02, 2019
04:52 pm
New Delhi, ZeeBiz WebDesk
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Real Time Gross Settlement or commonly known as RTGS is an online payment system, meant for large value internet transactions. Most banks across the country today offer RTGS services with certain charges. The Reserve Bank of India recently extended the timings for customer transactions through Real Time Gross Settlement (RTGS) system. With effect from June 1, the RTGS timings for customer transactions (initial cut-off) will be 6:00 pm, instead of the present 4:30 pm.

Here are the charges levied by SBI, ICICI Bank, PNB and HDFC Bank for money transfer service RTGS:

State Bank of India (SBI): Source- sbi.co.in

1. From 9:00 hours to 12:00 hours: Rs 25 for transaction slab of Rs 2 lakh to Rs 5 lakh (Rs 51 for above Rs 5 lakh).

2. After 12:00 hours to 15:30 hours: Rs 26 for transaction slab of Rs 2 lakh to Rs 5 lakh (Rs 52 for above Rs 5 lakh).

3. After 15:30 hours to 16:30 hours (on weekdays): Rs 31 for transaction slab of Rs 2 lakh to Rs 5 lakh (Rs 56 for above Rs 5 lakh).

ICICI Bank: Source- ICICIbank.com

1. Amounts from Rs 2 lakh and up to Rs. 5 lakh: Rs 25+ applicable GST

2. Amounts above Rs 5 lakh and upto Rs 10 lakh: Rs. 50+ applicable GST

Punjab National Bank:

1. From 08:00 to 11:00: Rs 25+ GST for transaction slab of Rs 2 lakh to Rs 5 lakh (Rs 50+ GST for above Rs 5 lakh)

2. After 11:00 to 13:00: Rs 27+ GST for transaction slab of Rs 2 lakh to Rs 5 lakh (Rs 52+ GST for above Rs 5 lakh)

3. After 13:00 to 18:00: Rs 30+ GST for transaction slab of Rs 2 lakh to Rs 5 lakh (Rs 55+GST for above Rs 5 lakh)

4. After 18:00: Rs 30+ GST for transaction slab of Rs 2 lakh to Rs 5 lakh (Rs 55+GST for above Rs 5 lakh)

HDFC Bank

As per the official webist of HDFC Bank, it currently charges no fee from its customers for RTGS transactions made online.