Fund Transfer Charges of NEFT, RTGS and IMPS: SBI, HDFC, ICICI

NEFT Charge:

National Electronic Funds Transfer (NEFT) has been introduced by the RBI to easily transfer fund between bank to bank, bank to other bank. You can easily send money between same bank and other bank. You should add the bank account in your internet banking account for transfer fund. If you are fund transfer by NEFT than some nominal amount is charging by bank. Now we are going to share the charges of NEFT. You must be know about the Charges.

a) Inward transactions at destination bank branches (for credit to beneficiary accounts)
– Free, no charges to be levied from beneficiaries

b) Outward transactions at originating bank branches – charges applicable for the remitter

  1. For transactions up to Rs 10,000: not exceeding Rs 2.50 (+ Service Tax)
  2. For transactions above Rs 10,000 up to Rs 1 lakh: not exceeding Rs 5 (+ Service Tax)
  3. For transactions above Rs 1 lakh and up to Rs 2 lakhs: not exceeding Rs 15 (+ Service Tax)
  4. For transactions above Rs 2 lakhs: not exceeding Rs 25 (+ Service Tax)

NEFT transaction timings for Monday – Friday is 8 A.M to 6.30 P.M and for Saturday it is 8 A.M to 12 P.M. There is no minimum and maximum limit for transfer.

Real time gross settlement (RTGS)

  1. Inward transactions – Free, no charge to be levied.
  2. Outward transaction –  Rs. 2 lakh to  5 lakh – not exceeding Rs. 30 per transaction;
  3. Above Rs. 5 lakh – not exceeding Rs. 55 per transaction.

RTGS transaction timings for Monday – Friday is 9 A.M to 4.30 P.M and for Saturday it is 9 A.M to 2 P.M. RTGS charges are as below:
IMPS (Interbank Mobile Payment Service)

  1. For transactions up to Rs 10,000: not exceeding Rs 2.50 (+ Service Tax)
  2. For transactions above Rs 10,000 up to Rs 1 lakh: not exceeding Rs 5 (+ Service Tax)
  3. For transactions above Rs 1 lakh and up to Rs 2 lakhs: not exceeding Rs 15 (+ Service Tax)

Banking is a very important part of life for any person who is doing business or services. Nowdays, Indian Government is announced for Cashless India and difficulties for Cash, you can move other option to money transfer between relatives, friends, workers, employers, shopping as well as other. There are multiple option of fund transfer such as NEFT, RTGS, and IMPS. You can easily transfer money between known. Banks are charging some nominal amount for fund transfer. There are very big queue in the bank for deposits, withdrawals, cheques etc. If you want to send the money to your brother or reparative, you should use NEFT, RTGS, and IMPS services which is better for you to save time. If you are using fund transfer from NEFT than may be take 1 to 10 minutes . you can save more time from transfer money from deposit in account. Now, we are going to share bank charges of fund transfer for NEFT, RTGS, and IMPS. There is very nominal amount SBI bank Charge. I am using the HDFC Internet Banking for NEFT and IMPS services for instant transfer.

Free customer care is offering free customer care number for SBI. You can get the customer care details form here. If you face any issue than you can easily get the SBI customer care and resolve your issue.  visit freecustomercare.com for customer care details and complaint.

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