What is the Minimum Amount of RTGS?

As you must already know, RTGS stands for Real Time Gross Settlement, a system which is meant primarily for large value transactions, where there is a continuous and real-time settlement of fund transfers. I wasn’t aware of the transaction limit and the RTGS minimum amount transfer, so I consulted my sister, who is a bank employee. She told me that in India, the minimum amount to be remitted through RTGS is Rs. 2,00,000. 

What is the Minimum Amount Transfer Through RTGS?

As the previous answers rightly mentioned, the minimum amount transfer in RTGS is Rs. 2,00,000 with no upper or maximum ceiling. I also learned that there are some points that one must know while putting through a funds transfer transaction through RTGS. I am listing them below for your reference.

1. Originating and destination bank branches are part of the RTGS network.

2. The remitter must have the beneficiary details such as beneficiary name, account number, account type, name, and IFSC code.

3. The remitter should take the full responsibility to provide the correct inputs in the payment instructions, particularly the beneficiary account number.

You should also know that there is no maximum limit on the transaction done through a branch. However, the maximum amount that can be transferred per day via netbanking through RTGS is according to the customer’s TPT limit. 

I hope this will give you some insights on what is the minimum amount of RTGS. 

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What Details are Required for RTGS Transfer?

The RTGS minimum amount transfer is a critical payment mechanism used for large-value transactions. In India, it is Rs 2 lakhs. 

Managed by the Reserve Bank of India (RBI), RTGS facilitates the instantaneous transfer of funds from one bank account to another on a real-time and gross basis, meaning the transactions are processed individually as they occur. Scroll down to learn more.

What is the Minimum Amount Transfer through RTGS?

In India, the minimum amount that can be transferred through RTGS is Rs2,00,000 (two lakh rupees). There is no upper limit for transactions, making RTGS an ideal choice for high-value transfers.

• RTGS transactions are settled in real-time, providing immediate finality. Once processed, the funds are credited to the beneficiary's account within 30 minutes, ensuring swift transaction completion.

• Being regulated by the RBI, RTGS transactions are highly secure, minimizing the risk of fraud and ensuring that funds reach the intended recipient without delay.

• Most banks in India offer RTGS services, and it can be accessed through various channels, including online banking, mobile banking, and at the bank branch.

Now that you learn the minimum how much amount can be transferred through RTGS, let’s check out the transaction time.

RTGS services are available during specific hours on all working days. The RBI typically sets the operational window, which, as of the latest guidelines, extends from 7:00 AM to 6:00 PM on weekdays and from 7:00 AM to 2:00 PM on Saturdays, except on second and fourth Saturdays, when banks are closed.

However, these timings can be subject to change, and it's advisable to check with the respective bank for the most current schedule.

To initiate an RTGS transaction, the account holder needs to provide certain details:

• Beneficiary's name

• Beneficiary's bank and branch

• IFSC (Indian Financial System Code) of the beneficiary’s branch

• Amount to be transferred

• Sender's account number

The request can be made through online banking platforms or by visiting the bank branch. The sender must ensure all details are accurate to avoid transaction delays or rejections.

While many banks have started waiving off the charges for RTGS transactions as a customer-friendly measure, traditionally, banks might levy a nominal fee based on the transaction amount. It's recommended to check with the specific bank for any applicable charges.

This is all about RTGS minimum amount transfer.

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As you must know, money transfer isn’t limited to bank drafts and cheques. The world has moved fast and with this, RTGS, IMPS, and NEFT have been introduced into the banking system of our country. Real Time Gross Settlement (RTGS) is an instant money transfer method that is available on a round-the-clock basis i.e. 24x7, 365 days. If you have ever wondered about the RTGS minimum limit, then read below to know:

What is Minimum Amount for RTGS Transfer

The RTGS transfer limit is the same for every private and nationalised bank in our country. The RTGS fund transfer is irrevocable and final because it takes place in the RBI’s books. These are high-value transactions and that’s why the minimum limit starts from Rs 2,00,000. I want you to know that some banks have a maximum limit of approximately Rs 25,00,000 for online transactions. One can carry the online RTGS transactions both through mobile banking and net banking. However, there isn’t any upper RTGS limit in India if the RTGS transaction is done through the bank branch.

RTGS Minimum Limit in Different Banks

The RTGS maximum and minimum limits vary from one bank to another. Therefore, it’s advised to check the online and offline RTGS limit with your bank before you initiate a transaction.

1)

   

RTGS Transaction Limit of HDFC Bank

2)

   

RTGS Limit of Axis Bank

3) RTGS Limit of State Bank of India

Maximum and minimum limit of RTGS for retail banking:

RTGS money transfer limit for corporate internet banking:

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This is all you need to know about the RTGS minimum limit and maximum limit.