Customers of SBI – Do you need to transfer funds in big amount to someone immediately? You might want to opt for SBI RTGS for this. And when you choose this option, some things like SBI RTGS limit per day, online RTGS limit and minimum RTGS allowed in SBI, should be clear.
Read on to know all about the SBI RTGS limit in this post.
What is SBI RTGS?
SBI RTGS stands for Real-Time Gross Settlement and is a service provided by State Bank of India (SBI) that enables customers to transfer money in real-time. This service is available to both retail and corporate customers of SBI, and the minimum amount for an RTGS transaction is Rs. 2 lakhs. SBI RTGS is a secure and reliable mode of transferring funds, and the beneficiary receives the funds instantly in their account.
SBI RTGS Limit for New Beneficiary
When you add a new beneficiary to transfer funds via online (netbanking), there is a time limit as well as amount limit which needs to be adhered to. You will be able to do RTGS transfer to a new beneficiary after a maximum of 16 hours.
Once the beneficiary added is activated, you will be able to transfer a maximum amount of Rs 5 lakhs via SBI RTGS. After this, the usual SBI RTGS online limit will be activate at Rs 10 lakhs per day.
“Full limit will available for beneficiaries that are activated through the branch or using IRATA.” (Source: SBI website)
IRATA Full Form: Internet Banking Request Approval Through ATM
Login using your SBI netbanking credential and then add beneficiary.
SBI RTGS Limit Per Day
Below-mentioned are the SBI RTGS limits per day under retail internet banking (online):
- Minimum: Rs 2 lakhs
- Maximum: Rs 10 lakhs
SBI RTGS Maximum limit for corporate internet banking (online)
|Type of SBI Corporate Account||Maximum SBI RTGS limit (Corporate Online) – Per Day||Maximum SBI RTGS limit (Corporate Online) – Per Transaction|
|SBI Saral||Rs 10 lakhs||Rs 10 lakhs|
|SBI Vyapaar||No Limit||Rs 50 lakhs|
|SBI Vistaar||No Limit||Rs 2000 Crores|
Disclaimer: The abovementioned details are with regard to SBI Online RTGS Limit.
If you’re doing the SBI RTGS at the bank, these limits may not apply. In most probability, you can transfer any amount at the bank using the SBI RTGS (not less than Rs 2 lakhs)
Visit the following links to know more about RTGS:
|RTGS||PNB RTGS Charges||HDFC RTGS Timings|
|RTGS Process||SBI RTGS Charges||ICICI Bank RTGS Timings|
|BOB RTGS Charges||HDFC RTGS Limit||RTGS Timings|
|HDFC RTGS Charges||RTGS Limit||SBI RTGS Timings|
|ICICI Bank RTGS Charges|
SBI RTGS Limit: FAQs
If you’re using the online mode, you can only transfer up to Rs 10 lakhs via SBI RTGS netbanking. This is for retails customers and SBI Saral customers only. SBI Vyapaar and Vistaar customers have higher SBI RTGS online limit.
Under normal circumstances, beneficiary should receive the funds as soon as funds are transferred. Otherwise, it may take not more than 2 hours from the debit.
Yes. If the beneficiary’s bank is not able to credit the funds in the designated account, you will receive the refund within 2 hours.
When done online via SBI netbanking, you do not have to pay any charges.
For RTGS amount of Rs 2 lakhs to Rs 5 lakhs, SBI charges Rs 20 and for a higher amount, it will charge you Rs 40 (plus GST).
The RTGS stands for Real Time Gross Settlement.