Bank of Baroda is one of the oldest public sector banks operational in India and abroad. The BOB offers various banking related products including Deposits and Accounts, Loans and Advances, NEFT, IMPS, Cards Service and so on. One of these services is RTGS wherein customers can transfer funds to other beneficiary account instantly. However, there are certain BOB RTGS charges, which are involved while making fund transfer using RTGS method.
Meaning of RTGS
Real-Time Gross Settlement (RTGS) is one of the most used fund transfer methods in India. RTGS is an electronic mode of fund transfer where customer is required to enter the details of beneficiary such as account details, IFSC Code and more. The time taken to transfer funds using RTGS mode is maximum of 30 minutes. However, funds are transferred within minutes via RTGS.
What are BOB RTGS Charges?
The Bank of Baroda has specified certain RTGS charges for making fund transfers. These charges are the fees that BOB charges for processing the RTGS transactions. The bank charges certain amount of fees as per the amount you want to transfer to the beneficiary account and the time of the day when the transaction is initiated. The table below gives the clear details of BOB RTGS Charges-
Rs 2 lakhs to Rs 5 lakhs
- 9:00 AM to 12 noon – Rs 28
- 12:01 PM to 3:30 PM – Rs 29
- After 3:30 PM – Rs 33
Above Rs 5 lakhs
- 9:00 AM to 12 noon – Rs 55
- 12:01 PM to 3:30 PM – Rs 56
- After 3:30 PM – Rs 61
Details Required to Initiate RTGS Transaction with BOB
Given below are some of the important details of beneficiary required to initiate RTGS transaction with BOB-
- Name of the Beneficiary Bank
- Name of the Beneficiary Branch
- IFSC Code
- Account holder Name
- Account number
- Amount to be transferred
After providing all the above-mentioned details, the bank will initiate the RTGS transaction. The specified charges will be deducted from the sender’s account for transferring the funds.
Visit the following links to know more about RTGS:
RTGS | SBI RTGS Charges | HDFC RTGS Timings |
RTGS Process | HDFC RTGS Limit | ICICI Bank RTGS Timings |
HDFC RTGS Charges | RTGS Limit | RTGS Timings |
ICICI Bank RTGS Charges | SBI RTGS Limit | SBI RTGS Timings |
PNB RTGS Charges |
BOB RTGS Charges : FAQs
The minimum amount required to transfer using RTGS is Rs.2 lakhs
Yes. Bank of Baroda charges equal amount of fees for all customers while making fund transfer using RTGS.
Currently, there is no such limit on the maximum amount that can be transferred using RTGS in BOB.
Yes. You can transfer funds online via RTGS using BOB internet banking and BOB mobile application to the beneficiary account.
The funds are transferred to the recipient’s account immediately after the bank has entered all the details of the beneficiary.
BOB provides various methods to check the status of your RTGS transactions. You can check the status via Mobile Banking, Internet Banking or Contacting with BOB Customer Care.