Bank of Maharashtra RTGS Charges and Timings
Bank of Maharashtra RTGS Charges and Timings
Bank of Maharashtra offers free RTGS transfers through Maha Mobile and internet banking, as mandated by the RBI. Branch-based RTGS transfers may attract a nominal charge. RTGS is suitable for transfers of Rs 2 lakh and above with real-time settlement.
What Is RTGS?
RTGS (Real Time Gross Settlement) is a high-value funds transfer system where each transaction is settled individually and instantly in real time. Unlike NEFT which is batch-based, RTGS credits the beneficiary account immediately upon processing.
Bank of Maharashtra RTGS Charges
- Online RTGS (Maha Mobile and net banking): Free (Rs 0)
- Branch RTGS (Rs 2 lakh to Rs 5 lakh): Rs 20 + GST
- Branch RTGS (above Rs 5 lakh): Rs 40 + GST
Confirm the latest charges with the Bank of Maharashtra branch or official website as these may be updated.
RTGS Timings at Bank of Maharashtra
As per RBI guidelines, RTGS is available 24/7, including Sundays and public holidays. Online RTGS through Maha Mobile and net banking can be initiated at any time. Branch RTGS is available only during banking hours on working days.
How to Transfer via RTGS on Maha Mobile
- Log in to Maha Mobile and tap Fund Transfer.
- Select RTGS as the mode of transfer.
- Add the beneficiary’s account number and IFSC code.
- Enter the amount (minimum Rs 2 lakh) and an optional remark.
- Confirm with your transaction PIN and OTP if prompted.
- Save the transaction reference number for your records.
RTGS Minimum and Maximum Limits
- Minimum amount: Rs 2 lakh
- Maximum amount: No upper limit set by RBI; internal bank limits may apply.
FAQ
What is the minimum amount for RTGS at Bank of Maharashtra?
The minimum amount for an RTGS transfer is Rs 2 lakh, as per RBI guidelines. For amounts below Rs 2 lakh, use NEFT or IMPS instead.
Is RTGS the same as NEFT?
No. RTGS settles each transaction instantly in real time, while NEFT processes transactions in 30-minute batches. RTGS is best for high-value, time-sensitive transfers above Rs 2 lakh.
How do I check if my RTGS transfer was successful?
You will receive an SMS alert on your registered mobile number. You can also check the transaction status in the Transaction History section of Maha Mobile or net banking.
Key Takeaways
- RTGS is free for online transfers via Maha Mobile and net banking.
- Branch RTGS charges range from Rs 20 to Rs 40 + GST.
- RTGS requires a minimum transfer amount of Rs 2 lakh.
- Transfers are settled in real time, making it ideal for urgent, high-value payments.
- RTGS is available 24/7 online; branch RTGS is only during working hours.
