Inter Bank Transfer means an electronic transfer of funds from the remitter’s account in one Bank to the beneficiary’s account maintained with any other Bank branch. Two Interbank Transfers are maintained by the Reserve Bank of India, namely RTGS and NEFT.
Inter Bank Transfers can be done during SBI Bank Timings. Like all banks, SBI also follows a similar holiday schedule in case of a public holiday and it remains closed on 2nd and 4th Saturdays.
Let us first have a look at the list of State Bank of India holidays in 2023 released by the Reserve Bank of India:
Date | Date |
1 Jan 2023 | New Year’s Day |
4 Jan 2023 | Odisha Day |
5 Jan 2023 | Guru Gobind Singh Jayanti |
11 Jan 2023 | Missionary Day |
12 Jan 2023 | Swami Vivekananda Jayanti |
13 Jan 2023 | Boghi |
14 Jan 2023 | Makara Sankranti |
15 Jan 2023 | Magh Bihu |
Surya Pongal | |
Thiruvalluvar Day | |
16 Jan 2023 | Mattu Pongal |
Uzhavar Thirunal | |
17 Jan 2023 | Kaanum Pongal |
22 Jan 2023 | Sonam Losar |
23 Jan 2023 | Netaji Subhas Chandra Bose Jayanti |
25 Jan 2023 | State Day |
26 Jan 2023 | Republic Day |
Vasant Panchami | |
31 Jan 2023 | Me-Dum-Me-Phi |
2 Feb 2023 | Sonam Losar |
5 Feb 2023 | Hazrat Ali Jayanti |
18 February 2023 | Maha Shivaratri |
20 Feb 2023 | State Day |
21 Feb 2023 | Losar |
5 Mar 2023 | Panchayati raj Divas |
8 March 2023 | Holi |
10 March 2023 | Chhatrapati Shivaji Maharaj Jayanti |
18 Mar 2023 | Doljatra |
19 Mar 2023 | Holi |
22 Mar 2023 | Bihar Day |
Gudi Padwa | |
Ugadi | |
23 Mar 2023 | S. Bhagat Singh’s Martyrdom Day |
24 March 2023 | Sarhul |
30 March 2023 | Ram Navami |
2 Apr 2023 | Telugu New Year |
4 Apr 2023 | Mahavir Jayanti |
5 Apr 2023 | Babu Jagjivan Ram Jayanti |
7 Apr 2023 | Good Friday |
8 Apr 2023 | Easter Saturday |
9 Apr 2023 | Easter Sunday |
14 Apr 2023 | Bohag Bihu Holiday |
Vaisakh | |
Dr Ambedkar Jayanti | |
TamilTamil New Year | |
Maha Vishuba Sankranti | |
Bohag Bihu | |
Cheiraoba | |
15 April 2023 | Vishu |
Bengali New Year | |
Himachal Day | |
17 Apr 2023 | Patriots Day |
21 Apr 2023 | Garia Puja |
22 April 2023 | Maharshi Parasuram Jayanti |
Idul Fitr | |
23 April 2023 | Basava Jayanti |
29 Apr 2023 | Shab-i-Qadr |
Jumat-ul-Wida | |
1 May 2023 | Maharashtra Day |
May Day | |
2 May 2023 | Guru Ravidas Jayanti |
5 May 2023 | Buddha Purnima |
4 May 2023 | Idul Fitr Holiday |
16 May 2023 | State Day |
22 June 2022 | Maharana Pratap Jayanti |
24 May 2023 | Kazi Nazrul Islam Jayanti |
2 Jun 2023 | Telangana Formation Day |
3 Jun 2023 | Sri Guru Arjun Dev Ji’s Martyrdom Day |
4 Jun 2023 | Sant Guru Kabir Jayanti |
14 Jun 2023 | Pahili Raja |
15 Jun 2023 | Raja Sankranti |
YMA Day | |
20 Jun 2023 | Ratha Yatra |
25 June 2023 | Bonalu |
26 Jun 2023 | Kharchi Puja |
29 Jun 2023 | Bakrid / Eid al Adha |
30 Jun 2023 | Remna Ni |
5 Jul 202 | Guru Hargobind Ji’s Birthday |
6 Jul 2023 | MHIP Day |
11 Jul 2023 | Bakrid / Eid al Adha Holiday |
13 Jul 2023 | Martyrs’ Day |
Bhanu Jayanti | |
17 Jul 2023 | U Tirot Sing Day |
29 Jul 2023 | Muharram |
31 Jul 2023 | Shaheed Udham Singh’s Martyrdom Day |
8 Aug 2023 | Tendong Lho Rum Faat |
13 Aug 2023 | Patriots Day |
15 Aug 2023 | Independence Day |
16 Aug 2023 | De Jure Transfer Day |
Parsi New Year | |
28 August 2023 | First Onam |
Parkash Utsav Sri Guru Granth Sahib Ji | |
29 August 2023 | Thiruvonam |
Hartalika Teej | |
30 Aug 2023 | Jhulan Purnima |
Raksha Bandhan | |
1 Sep 2023 | Ganesh Chaturthi Holiday |
5 September 2023 | Guru Rabindranath Jayanti |
7 Sep 2023 | Janmashtami |
19 Sep 2023 | Haryali Teej |
Ganesh Chaturthi | |
20 September | Nuakhai |
21 Sep 2023 | Sree Narayana Guru Samadhi |
23 Sep 2023 | Heroes’ Martyrdom Day |
25 Sep 2023 | Ramdev Jayanti |
Teja Dashmi | |
28 Sep 2023 | Indra Jatra |
S. Bhagat Singh Ji Jayanti | |
Eid e Milad | |
29 Sep 2023 | Sree Narayana Guru Jayanti |
2 Oct 2023 | Gandhi Jayanti |
9 Oct 2023 | Lakshmi Puja |
14 Oct 2023 | Friday Following Eid e Milad |
First Day of Bathukamma | |
Mahalaya Amavasye | |
15 Oct 2023 | Maharaja Agrasen Jayanti |
Ghatasthapana | |
21 Oct 2023 | Maha Saptami |
24 Oct 2023 | Vijaya Dashami |
28 Oct 2023 | Maharishi Valmiki Jayanti |
26 Oct 2023 | Deepavali Holiday |
31 Oct 2023 | Sardar Vallabhbhai Patel Jayanti |
1 Nov 2023 | Kut |
Puducherry Liberation Day | |
Haryana Day | |
Kannada Rajyothsava | |
4 Nov 2023 | Lhabab Duchen |
12 Nov 2023 | Diwali |
13 Nov 2023 | Vikram Samvat New Year |
14 Nov 2023 | Bhai Dooj |
19 Nov 2023 | Chhath Puja |
20 Nov 2023 | Chhath Puja Holiday |
23 Nov 2023 | Seng Kut Snem |
27 Nov 2023 | Karthika Purnima |
Guru Nanak Jayanti | |
28 Nov 2023 | Sri Guru Teg Bahadur Ji’s Martyrdom Day |
30 Nov 2023 | Kanakadasa Jayanti |
1 Dec 2023 | Indigenous Faith Day |
3 Dec 2023 | Feast of St Francis Xavier |
5 Dec 2023 | Sheikh Muhammad Abdullah Jayanti |
12 Dec 2023 | Pa Togan Nengminza Sangma |
18 Dec 2023 | Death Anniversary of U SoSo Tham |
Guru Ghasidas Jayanti | |
19 Dec 2023 | Liberation Day |
25 Dec 2023 | Christmas Day |
26 Dec 2023 | Shaheed Udham Singh Jayanti |
29 Dec 2023 | Guru Gobind Singh Jayanti |
30 Dec 2023 | U Kiang Nangbah |
30 Dec 2023 | Tamu Losar |
31 Dec 2023 | New Year’s Eve |
Now let us know about the charges and timings of RTGS and NEFT one by one.
NEFT Timings & Charges:
In NEFT, the transactions are settled in half-hourly batches. There will be 48 half-hour batches every day. The settlement of the first batch will commence after 00:30 hours and the last batch will end at 00:00 hours. The system will be available on all days of the year, on a 24 x 7 basis, including holidays.
Days | Time Slot |
Monday – Saturday | 8.00 am to 7.00 pm |
NEFT services are not available on bank holidays, including, the 2nd and 4th Saturday |
There are no charges for NEFT done via SBI YONO, internet banking, and mobile banking.
Transaction Amount | NEFT Charges (excluding GST) |
Up to INR 10,000 | INR 2 |
INR 10,000 – INR 1 lakh | INR 5 |
INR 1 lakh – INR 1=2 lakh | INR 15 |
Above INR 2 lakhs | INR 25 |
RTGS Timings & Charges:
It is a fund transfer, where the instructions of processing take place on a real-time basis i.e. as and when received basis. Also, the settlement of funds transfer instructions occurs individually on an instruction-by-instruction basis (gross settlement).
Days | Time Slot |
Monday – Saturday | 8.00 am to 4.30 pm |
RTGS services not available on 2nd and 4th Saturday |
There are no SBI RTGS Charges done via SBI YONO, internet banking, and mobile banking.
Transaction Amount | RTGS Charges (excluding GST) |
INR 2 lakhs – INR 5 lakhs | INR 25 |
Above INR 5 lakhs | INR 50 |