Federal Bank RTGS Charges, Limits and Timings

Federal Bank RTGS Charges, Limits and Timings

Federal Bank RTGS transfers are free when initiated via the FedMobile app or net banking. RTGS is best suited for high-value transfers above Rs. 2 lakh and provides real-time settlement, meaning funds reach the recipient almost instantly.

Federal Bank RTGS Charges

• Online (FedMobile or net banking): Free, as per RBI’s December 2019 directive
• Branch-initiated RTGS (Rs. 2 lakh to Rs. 5 lakh): Rs. 20 + GST
• Branch-initiated RTGS (above Rs. 5 lakh): Rs. 40 + GST

RTGS Transfer Limits

• Minimum amount: Rs. 2 lakh (RTGS cannot be used for smaller amounts)
• Maximum amount: No upper cap per transaction
• Daily limit (online): Determined by your net banking transaction limit, typically up to Rs. 20 lakh or more for retail accounts

RTGS Timings

RTGS operates 24 hours a day, 7 days a week including Sundays and public holidays, since RBI extended RTGS to round-the-clock in December 2020. Funds are settled in real time, usually within seconds to a few minutes.

RTGS vs NEFT vs IMPS: Quick Comparison

• RTGS: Minimum Rs. 2 lakh, real-time settlement, free online
• NEFT: No minimum, half-hourly batches, free online
• IMPS: Up to Rs. 5 lakh, instant, small fee applicable

How to Do RTGS via FedMobile App

1. Open FedMobile and log in.
2. Go to Fund Transfer and select RTGS.
3. Add or select the beneficiary with their account number and IFSC code.
4. Enter an amount of Rs. 2 lakh or above.
5. Confirm the transaction with MPIN or OTP.

FAQ

Can I do RTGS for amounts below Rs. 2 lakh?

No, RTGS has a minimum transaction value of Rs. 2 lakh. For smaller amounts, use NEFT (for non-urgent transfers) or IMPS (for instant transfers up to Rs. 5 lakh).

Is RTGS safe for large transfers?

Yes, RTGS is one of the safest transfer methods in India. It is regulated by the Reserve Bank of India and provides real-time gross settlement, meaning each transaction is settled individually and immediately.

What happens if an RTGS transfer fails?

If an RTGS transfer fails (for example, due to an incorrect account number), the funds are returned to your account within 30 minutes. If not credited back, contact Federal Bank customer care at 1800-425-1199.

Key Takeaways

• RTGS online via FedMobile or net banking is free of charge.
• Minimum RTGS transaction value is Rs. 2 lakh.
• RTGS is available 24×7 with real-time settlement.
• Branch RTGS charges: Rs. 20 to Rs. 40 plus GST depending on amount.
• Use IMPS for urgent transfers below Rs. 2 lakh.