RTGS
Also called Real Time Gross Settlement
Real Time Gross Settlement: a bank transfer for ₹2 lakh and above that settles one by one, in real time.
Questions people ask
What is the minimum amount for RTGS?
2 lakh rupees, with no upper limit, per the RBI. For smaller amounts, use NEFT, IMPS or UPI instead. RTGS has run 24x7 since December 14, 2020.
How long does RTGS take?
The receiving bank must credit the money within 30 minutes of getting the transfer message, per the RBI's RTGS FAQs. That makes it the quickest rail for large sums.
Are there charges on RTGS?
Receiving money by RTGS is free. For sending, the RBI caps the bank's charge at 25 rupees for 2 lakh to 5 lakh rupees and 50 rupees above 5 lakh, plus tax. Banks may charge less, so check your bank's current fees.
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