I still remember when I had to transfer Rs. 5 lakh urgently and on an immediate basis from Mumbai to Delhi. I wasn’t able to find a way to do that, so I asked my banker friend to help me out. He told me that RTGS is the best option in this case. He also told me how much time RTGS takes to transfer money. Before I share that info with you, I will explain what RTGS is:
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'RTGS' stands for Real-Time Gross Settlement. In simple words, it’s a fund transfer method through which money is sent immediately without any delays. You can use mobile banking or net banking facility for transferring money via RTGS. You require the bank details of the person for transferring money via this mode.
How Much Time it Takes to Transfer Money by RTGS
As far as RTGS timings are concerned, the Reserve Bank of India has allowed round-the-clock fund transfers through RTGS. This means that the service is now available 24 x7x365. Earlier, these were the timelines within which this mode of payment took place:
| Transaction Day | Transaction through Branch | Online Transaction |
Monday to Saturday (except second and fourth Saturday and holidays) |
According to working hours of a branch. |
8:00 am to 4:30 pm. |
Now you know how much time take to transfer money through RTGS.
Transfer limit of RTGS
With RTGS, one can transfer funds over Rs. 2,00,000 instantly. The minimum amount one can transfer is Rs. 2,00,000 with the help of the RTGS facility 24x7. However, there isn’t any upper limit for RTGS transactions.
This is all on how much time does RTGS take to transfer money.
Read more:
Is There Any Charges for RTGS Fund Transfer?
How to Do RTGS in Bank?
Can We Do RTGS Online?
What is RTGS Charges in SBI?
What is the Difference Between NEFT and RTGS?
I hope you liked my answer on how much time RTGS takes to transfer money.
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Authors Of The Question
How much time RTGS takes to transfer money?
Yara
3326Views
2 Year
2022-08-01T18:23:04+00:00 2023-09-20T12:31:55+00:00Comment
1 Answers
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