Timings for SBI Funds Transfer

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 2^nd and 4^th 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:

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. 

There are no charges for NEFT done via SBI YONO, internet banking, and mobile banking.

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). 

There are no SBI RTGS Charges done via SBI YONO, internet banking, and mobile banking.

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