Limit, Fees & CHARGES, Time of RTGS/NEFT/ECS transactions in SBI Internet Banking

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RTGS/NEFT/ECS CHARGES
S.No.
Items
Transaction Slab
Charges
1.NEFT
Upto Rs.10,000-Rs.2.50
Upto Rs.1.00 lacRs.5.00
Above Rs.1.00 lac to 2.00 lacsRs.15.00
Above Rs.2.00 lacsRs.25.00
a) RTGS Customer Transactions (R-41)
Time of settlement at the RBITransaction SlabCharges
FromTo
09.00 Hours12.00 HoursRs.2.00 lacs to Rs.5.00 lacsRs.25
Above Rs.5.00 lacsRs.51
After 12.00 Hours15.30 HoursRs.2.00 lacs to Rs.5.00 lacsRs.26
Above Rs.5.00 lacsRs.52
After 15.30 Hours16.30 Hours (on week days)Rs.2.00 lacs to Rs.5.00 lacsRs.31
Above Rs.5.00 lacsRs.56
b) RTGS Inter-Bank Transactions (R-42)
Time of settlement at the RBITransaction SlabCharges
FromTo
09.00 Hours12.00 HoursRs.2.00 lacs to Rs.5.00 lacsRs.25
Above Rs.5.00 lacsRs.51
After 12.00 Hours15.30 HoursRs.2.00 lacs to Rs.5.00 lacsRs.26
Above Rs.5.00 lacsRs.52
After 15.30 Hours16.30 Hours (on week days)Rs.2.00 lacs to Rs.5.00 lacsRs.31
Above Rs.5.00 lacsRs.56
NOTE:
  • Charges are to be recovered from the account where the credit is afforded. However, no recovery shall be effected from the accounts of Vishesh Customers and holders of Savings Plus and Premium Savings Accounts.

  • Charges recovered are to be credited to the branch which puts through the transactions.

  • Circles have the discretion to reduce the maximum cash withdrawal limit per non-home transaction at non-chest branches.

  • Non-home transactions will be allowed to be conducted without any service charges from all Staff/SBI Pensioners and Staff of Associates.

    • Above charges are applicable to all type of transactions, including inter-bank funds transfer (RTGS R-42).

    • As above charges are all inclusive, no additional charges such as Courier charges, out of pocket expenses etc., need to be levied from the customers.

    • The charges are applicable only to transactions originated and payable within India.

    • To reduce the Clearing Cycle and to promote electronic mode of payment, the drawee branches should use electronic modes like RTGS/NEFT, wherever available, to remit proceeds to the collecting branches.

NOTE: CONCESSIONS IN SERVICE CHARGES
  • Service charges for certain categories of customer like individuals in rural areas, pensioners and senior citizens, the service charges has been reduced to 50% of applicable prescribed charges in respect of following services :

    • Issue of duplicate Passbook/statement of accounts.

    • Issue of cheque books.

    • Noting of Standing Instructions.

    • Stop payment instructions.

    • Charges for non-maintenance of minimum balance.

    • Issue of balance certificate.

    • Signature verification.

    • Ledger folio charges.

  • No service charges will be levied for “no frill” accounts.

  • BPR entities and Managers of Division will also exercise powers in respective grades as above in regard to concession in service charges.

The charges are inclusive of Service Tax and no separate recovery is required to be mad.

Information Required for Funds Transfer using any Payment Mode:

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While making a NEFT or RTGS transaction with State Bank of India, customers need to provide the below information:

  • Remittance Amount
  • SBI Bank customer’s account number
  • Beneficiary’s bank name
  • Beneficiary’s name
  • Beneficiary’s Account number
  • Sender to receiver information
  • IFSC code of the beneficiary’s bank branch

About State Bank of India (SBI):

As a premier financial institution, State Bank of India was originally established in 1808 as ‘Bank of Calcutta’. State Bank of India is an Indian international, Public Sector investment and banking service organization. It is a state-owned establishment and is headquartered in India’s city of dreams, Mumbai. As per the statistics appraised by December 2013, its assets amounted to over USD 388 billion and 17,000 offices peppered across the country. It also has 190 overseas branches and is the biggest finance services firm in India. It is now ranked among the top three banks in India along with ICICI, Punjab National Bank and Bank of Baroda. SBI offers a wide spectrum of banking services and products comprising of personal banking, agricultural banking, NRI services, international banking and corporate services to a diverse clientele.

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