Here are the fees charged by banks for RTGS, NEFT, IMPS transactions. Keep a note!


If you are managing your own payments and making online payments, National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) are the most common methods to make online payments.

As the banks are giving you the facility of making payments online and transferring your funds in the blink of an eye, a fee is imperative. Different banks charge different sets of fees for different types of transactions.

State Bank of India (SBI)

Net banking

Amount up to Rs. 10,000

The fee charged – Rs. 1 (plus GST) per NEFT transaction

For amounts between Rs. 10,000 and Rs. 1 lakh

The fee charged – Rs. 2 (plus GST)

For amounts between Rs. 1 lakh and Rs. 2 lakh

The fee charged – Rs. 3 (plus GST)

For transfers above Rs. 2 lakh

The fee charged – Rs. 5 (plus GST) per transaction

 

Money transfer through RTGS

An amount between Rs. 2 lakh and Rs. 5 lakh

The fee charged – Rs. 5 (plus GST) per transaction

Amounts above Rs. 5 lakh

The fee charged – Rs. 10 per transaction

 

IMPS

Up to Rs. 1,000

No fee charges

Amounts between Rs. 1,001 and Rs. 10,000

The fee charged – Rs. 1 (plus taxes) per transaction

HDFC Bank levies fees on online transactions including RTGS and NEFT. However, it charges a fee if the transfers are made offline and at bank branches. Additionally, HDFC charges a fee for its IMPS transactions.

Amount up to 1 lakh

The fee charged: Rs. 5 plus GST

Amounts between Rs. 1 lakh and Rs. 2 lakh

The fee charged: Rs. 15 plus GST

 

ICICI Bank

Since ICICI has a huge database, it is quite likely you are a user of it. For RTGS and NEFT, ICICI Bank charges a stipulated fee.

NEFT

An amount of Rs. 10,000

The fee charged: Rs. 2.5 plus GST per transaction

For amounts between Rs. 10,000 and Rs. 1 lakh

The fee charged: Rs. 5 plus GST per transaction

For amounts between Rs. 1 lakh and Rs. 2 lakh

The fee charged: Rs. 15 plus GST per transaction

For amounts between Rs. 2 lakh and Rs. 10 lakh

The fee charged: Rs. 25 plus GST per transaction

RTGS

For amounts between Rs. 2 lakh and Rs. 5 lakh

The fee charged: Rs. 25 plus GST per transaction

For amounts between Rs. 5 lakh and Rs. 10 lakh

The fee charged: Rs. 50 plus GST per transaction

IMPS transfers

Amounts up to Rs. 1 lakh

The fee charged: Rs. 5 plus GST per transaction

For amounts between Rs. 1 lakh and Rs. 2 lakh

The fee charged: Rs. 15 plus GST per transaction

The charges by any bank are meagre but when one does multiple transactions, the cumulative amount could be surprising. Hence, keep a note of RTGS, NEFT and IMPS charges so that you make payments in your budget.