19 June 2022 1:20

If my friend wants to transfer 1 crore into my account through RTGS, what do I have to do?

Can I transfer 1 crore through RTGS?

The RTGS system is primarily meant for large value transactions. The minimum amount to be remitted through RTGS is ₹ 2,00,000/- with no upper or maximum ceiling.

Can I transfer 1 crore through bank?

A retail customer can transfer up to a maximum of ₹20 lakh in a day using both mobile and internet banking channels such as RTGS, NEFT, IMPS and UPI. Customers can always use the branch channel for transferring money beyond this limit.

What is the maximum limit of fund transfer through RTGS?


Minimum / Maximum amount for RTGS / NEFT transactions under Corporate Internet Banking
Type Minimum Maximum (per transaction)
RTGS Rs.2 Lakhs Saral – Rs.10 Lakhs Vyapaar – Rs.50 Lakhs Vistaar – Rs.2000 Crores
NEFT No Minimum Saral – Rs.10 Lakhs Vyapaar – Rs.50 Lakhs Vistaar – Rs.2000 Crores

Do we need to add beneficiary for RTGS?

In order to transfer money through RTGS, you must first add a beneficiary. Thereafter, you can make a funds transfer. The steps to add a beneficiary to your account are: Step-1: Log into your respective bank’s netbanking account by entering the username and password.

Can I transfer 1 crore through cheque?

As per the existing directive, banks are not allowed to issue fresh chequebooks in the event of cheque dishonour valuing Rs 1 crore and above on four occasions during a financial year for want of sufficient funds.

What is the limit of RTGS in SBI?


As per the directions of RBI, the minimum transaction amount in case of RTGS is set to Rs. 2 Lakhs. There is no maximum limit on fund transfer carried out through the RTGS method.

What happens if you deposit 1 crore rupees?

If you have invested in FD of ₹ 1 Crore, the interest earned on fixed deposit is fully taxable. If ₹ 1 Cr fixed deposit monthly income from all the fixed deposits is less than ₹ 40,000, then the bank will not deduct any TDS. In case FD Interest on ₹ 1 Crore FD exceeds ₹ 40,000 the bank will deduct TDS @10%.

Can I transfer 1 crore through IMPS?

NEFT/RTGS/IMPS Charges, Timings, Limits

*Up to Rs 5 lakhs per transaction for IMPS (Rs 50 lakhs per month using iMobile Pay & Rs 15 lakhs per month through Internet Banking.)

How can I write RTGS cheque?

Make sure that you enter details such as the name & account number of the beneficiary, the amount to be transferred, name of the beneficiary bank and the IFSC Code of the beneficiary’s bank branch such as HDFC Bank IFSC Code. Attach a cheque leaf along with the request form for an RTGS transaction.

What documents are required for RTGS?

Details Required for RTGS Transaction

  • Amount to be remitted.
  • Name of the beneficiary.
  • Remitter bank account details.
  • Contact details of the beneficiary.
  • Bank account number of the beneficiary.
  • Bank name and IFSC code of the beneficiary.

What is the charges for RTGS transfer?

Fees and Charges for RTGS Transactions

In case of online transfers, no charges are levied for RTGS transactions. In case the RTGS transaction is completed at a bank branch, a charge of Rs. 15 plus GST is levied.

Which is better RTGS and NEFT?

RTGS works out as the best payment method if you need to transfer an amount equal to or more than Rs. 2 lakh in real time. RTGS does not follow any specific processing method unlike NEFT; hence, the funds are settled in real-time, without any delay.