SBI RTGS Timings, RTGS Transfer Time

Want to know RTGS Timings SBI? State Bank of India offers an effective fund transfer system to its customers in the form of RTGS. Through this electronic payment method, SBI customers can easily transfer funds from their SBI bank account to another bank account across the nation. Mostly, people seeking to carry out a huge amount of transactions need to access the RTGS service. 

As per the rules, regulations, and guidelines of RBI, the minimum RTGS transaction amount is Rs. 2 Lakhs. However, there is no maximum limit on the amount to be transferred using the RTGS system. RTGS enables the customers to make highly quick, convenient, and trustworthy fund transfers from one bank account to another account without any waiting. 

Customers seeking to transfer funds from their SBI account through RTGS need to know the SBI Bank RTGS Timings. It is important to know the exact RTGS Timings SBI before initiating fund transfers either online or offline. This guide gives complete details about How Much Time RTGS Takes In SBI, RTGS transfer time, and more. Have a glance!

SBI Bank RTGS Timings

Real-Time Gross Settlement is an acronym for RTGS. SBI allows its customers to make instant RTGS fund transfers across the nation from one account to another account. One can access the SBI RTGS service through online and offline modes. The funds transferred through RTGS mode by the SBI customers will be performed in a seamless and real-time mode. 

Just the RTGS name suggests fund transfer performed through SBI RTGS can be done in real-time. Funds will be transferred from one bank account to another account on a one-to-one basis. As of now, in India, there are a total of 140000 RTGS-enabled bank branches of SBI across the nation. At the time of transferring funds through SBI RTGS, the customers need to keep a few details handy. 

The significant details include the amount to be transferred, the account number of the beneficiary account, the name of the beneficiary, the name of the recipient’s bank, and the IFSC Code of the beneficiary bank. To make sure that the fund transactions are processed instantly from your bank account to another account then, you must make a fund transfer via RTGS within a specific time frame. One must transfer money following the SBI Bank RTGS Timings. Go through the article further to know How Much Time RTGS Takes In SBI to credit the transferred amount to the beneficiary account. 

As per the RBI guidelines 2022, State Bank of India customers can utilize RTGS fund transfer 24×7 through various online modes i.e., mobile banking, internet banking, and the YONO app. On weekdays, i.e., from Monday to Friday, SBI Bank RTGS Timings start at 08:00 AM and end at 04:20 PM. In the case of bulk RTGS file then, it must be uploaded before 03:50 PM to carry out the fund processing on the same day. 

SBI RTGS Timings Saturday & Weekdays

On weekends i.e., on all working Saturdays, the bank processes the SBI RTGS fund transfers between 08:00 AM and 04:20 PM. Uploading bulk RTGS file should be uploaded before 03:50 PM to make quick fund transfer processing on the same day. All Sundays, bank holidays, second and fourth Saturdays are holidays for SBI RTGS transactions to be done via offline mode.

SBI RTGS Transfer Time 

Wondering How Much Time RTGS Takes In SBI? Usually, the RTGS Transfer Time SBI is done in real-time i.e., instant money transfer from an SBI bank account to another bank account. However, in some rare situations, the RTGS Transfer Time SBI might not be instantaneous due to some technical issues.

After initiating the RTGS fund transfer, the beneficiary bank account must be credited with the transferred amount within 30 minutes from the time of receiving the message regarding the fund transfer. 

SBI provides the RGTS service to the customers 24×7 except for the delay in RTGS transaction processing between 11:50 PM and 00:30 AM on all days. SBI Customers might experience a delay in the aforementioned time frame on all days due to the RTGS cut-off period from the end of the Reserve Bank of India.

If in case, the amount that you have transferred from your SBI account through RTGS but the amount isn’t credited to the beneficiary’s bank account for some reason then, the beneficiary bank will return the money to the remitting bank within 2 hours. Once the remitting bank receives the amount, it will be credited to the remitter’s bank account by the concerned bank branch.

Final Words

That’s all! This is everything you need to know about the complete information about the RTGS Timings SBI. We hope this guide has given adequate details regarding the RTGS Transfer Time SBI, SBI Bank RTGS Timings on weekdays and weekends. If you still have any doubts or queries regarding this topic, feel free to ask us in the comments space. Stay in touch with our website to learn more about the SBI accounts, types of fund transfer modes online and offline, etc.

Leave a Comment