RTGS Limit

Real Time Gross Settlement or RTGS is a fund transfer service operated and managed by the Reserve Bank of India (RBI). It is popular owing to its method of settling transfer requests on a gross or instruction by instruction basis instead of the common batch-clearing format.

As a result, it allows the quick and hassle-free transfer of funds from one bank account to another. However, before initiating a transaction, you must be aware of the RTGS transaction limit. which would determine the minimum and maximum amounts you can transfer using the service. Also, you must ensure that you transact within the RTGS daily limit.

According to the RBI, the minimum amount required to initiate an RTGS transaction is ₹2 Lakhs. While the RBI has not imposed any maximum transaction limit, individual banks may establish their own upper limits for RTGS. This minimum threshold ensures that transactions are processed and settled by the RBI within banking hours on the same day.

RTGS or Real Time Gross Settlement allows instant transfer of funds, and this payment mode is generally reserved for high-value transactions. RTGS is ideally suited for those handling huge amounts of money on a daily basis. If you need to make an immediate remittance, knowing the RTGS limit can help you save time.

For transactions below the RTGS limit of ₹2 Lakhs, you can either opt for IMPS or NEFT. Do note that you are allowed to initiate a transaction only within the RTGS limit of the specific bank you have an account with.

The RTGS minimum and maximum limits vary from bank to bank. Therefore, it is wise to check the offline and online RTGS limit with your bank before initiating a transaction.