SBI Online: Want to transfer money from State Bank of India? Here are your options

In the modern world, transferring funds has become a simple process. The largest lender of the country, the State Bank of India provides its customers with several options to transfer their funds from one party to the other. This can be done through its official website - onlinesbi.com or app. Among the financial services to remit funds is IMPS or Instant Money Transfer Service, by which one can make inter-bank transactions through the medium of mobile banking or internet banking. Meanwhile, the National Electronic Funds Transfer or NEFT is a method of transferring of funds between two parties that does not happen in real time while the RTGS or Real-time gross settlement is a funds transfer system wherein one can transfer money on a real time and on a gross basis. 

So to say, SBI provides with all the available methods of fund transfer for their customers from which the user can use whichever seems suitable. 

State Bank of India - IMPS Charges 

State Bank of India consumers using the IMPS via the SBI internet banking are levied charges by their bank. Transactions up to Rs 1000 do not have any charges levied on them. Above that amount till Rs 25,000, Rs 2+GST is levied. For transactions up to Rs 1,00,000, Rs 5+GST is deducted from as service fee. Rs 10+GST is charged on transactions up to Rs 2,00,000 by the SBI.

State Bank of India - NEFT Charges 

Consumers using NEFT with State Bank of India for making payments are charged Rs 2.50+GST for transactions up to Rs 10,000. Transaction of Rs 1 lakh with SBI NEFT will be levied Rs 5+GST while transaction on amounts above 1 lakh and below Rs 2 lakh is charged Rs 15+GST. When the transaction amount exceeds Rs 2 lakhs, the user is charged Rs 25+GST. 

State Bank of India - RTGS Charges 

RTGS with State Bank of India for making payments will cost the customer Rs 25+GST for transactions between Rs 2 lakhs to Rs 5 lakhs and Rs 51+GST for transactions above Rs 5 lakhs. The transaction charges are for transactions between 9 am to 12 noon.

Meanwhile, RTGS transactions between 12 noon to 3:30 pm cost the customer Rs 26+GST for transaction amount between Rs 2 lakhs to Rs 5 lakhs. It will cost the customer Rs 52+GST for transaction amount above Rs 5 lakhs.

Post 3:30 pm to 4:30 pm, RTGS transaction amount between Rs 2 lakhs to Rs 5 lakhs will cost the customer Rs 31+GST. Above 5 lakhs, the customer is charged Rs 56+GST