As of 2025, SBI (State Bank of India) offers free NEFT and RTGS transactions when initiated online via Internet banking or YONO app. Branch transactions for both services attract charges, with NEFT ranging from ₹2 to ₹20+GST, and RTGS ranging from ₹20 to ₹50+GST depending on the amount.
SBI does not charge any fees for RTGS transactions made online through Internet banking or the YONO app. However, for branch transactions, charges are ₹20 + GST for amounts between ₹2 lakh and ₹5 lakh, and ₹40 + GST for amounts above ₹5 lakh.
The RBI sets maximum charges for RTGS: ₹24.50 + GST for transactions between Rs 2-5 lakh and ₹49.50 + GST for transactions above Rs 5 lakh.
Overview: RTGS transfers require a minimum of ₹2 lakh with no RBI maximum cap. Banks set daily limits between ₹25-50 lakh for individuals. Available 24/7 with instant settlement, RTGS suits high-value property, business, and urgent payments with enhanced security features.
If it is done online, both NEFT and RTGS are free. However, if the money is transferred offline by visiting the bank branch, NEFT is cheaper than RTGS. The charges for NEFT ranges from ₹2.5 to ₹25 per transaction, while the RTGS charges range from ₹2.5 to ₹50 per transaction.
From August 15, 2025, online IMPS transfers up to ₹25,000 will remain free of charge. However, transactions above this amount will attract nominal fees as follows: Above ₹25,000 and up to ₹1,00,000: ₹2 + GST.
Minimum RTGS Limit: Rs. 2,00,000 per transaction. Maximum RTGS Limit: Varies by bank and account type; personal accounts usually Rs. 10–50 lakh/day, corporate accounts can go up to crores.
NEFT is best suited for low-value transactions and operates in batches while RTGS is used for high-value transactions and settles payments in real-time. The two systems differ in terms of fees, minimum transfer amounts, and settlement speed.
March 31, 2025, is the last day of the financial year, but certain financial transactions will not be processed on this day. While banks will remain open, services such as fund transfers, cash deposits, withdrawals, and RTGS/NEFT transactions may not be available.
Overview: NEFT enables secure fund transfers across India with no RBI-imposed limits, but individual banks set transaction caps ranging from ₹2 lakh to ₹1 crore. Understanding these limits helps you plan large payments, investments, and loan repayments effectively while avoiding transaction failures.
NEFT Transfer Limit Set By Top Indian Banks
Below are the limits set by some of the major banks in India: ICICI Bank allows NEFT transfers of up to ₹10 lakh per day, with an extended limit of ₹20 lakh for transactions via iMobile Pay. IDFC First Bank has a daily NEFT transfer cap of ₹20 lakh.
What are the RTGS charges for 10 lakhs? Even though RTGS charges can vary depending on the bank you initiate the transaction from, banks usually charge Rs. 49.50 + applicable GST for fund transfers up to Rs. 10 lakhs.
The charges for IMPS transactions may vary among different banks. NEFT is considered reliable and secure for fund transfers. RTGS is considered reliable and secure for fund transfers.
To remit funds to the Inter Bank Payee through RTGS/NEFT select the 'Inter Bank Transfer' link in the 'Payments/Transfers' tab. Select the Transaction Type-RTGS or NEFT. The list of beneficiary accounts added is displayed. Enter the Amount and select the beneficiary to be credited from the list.
Transaction charges for NEFT and RTGS initiated through online modes (i.e. Internet Banking, iMobile , Pockets and InstaBIZ) are nil.
Disadvantages of RTGS
RTGS transactions are comparatively costlier than any other mode of electronic payment, with banks often found to be charging more fees for the service. RTGS can only facilitate transfers to bank accounts in India.
The consequences of RTGS failure
Threats like cyber attacks, data corruption, hardware or software failure, even natural disasters can impact RTGS systems. Even a brief disruption to an RTGS system would be costly, but a prolonged failure would be catastrophic.
RTGS transaction through NetBanking - the maximum amount of funds that can be transferred per day is as per customer's TPT limit (maximum up to ₹50 lakh).
SBI charges ₹125 as an annual maintenance fee and an additional 18 per cent GST for a host of debit cards its customers use. So, if we add the GST to ₹125, it comes to ₹147.50. The bank also charges ₹300+GST to replace or alter a debit card.
Log on to onlinesbi.sbi.bank.in using Internet Banking ID and Password. Access the Payment and Transfer Tab and click on the Add and Manage Beneficiary link. Enter profile password. Select Other Bank Beneficiary from the options provided.
You will have to pay the maximum SBI demand draft charge, which is Rs. 2,000, including GST, for a DD of Rs. 10 lakh. What are the DD charges in SBI for 12 lakhs?