From July 15

The revised charges will be applicable on NEFT, and RTGS transactions are done through internet banking or mobile banking offered by the bank and will be effective from July 15, 2017.

NEFT and RTGS

Under NEFT payment instructions between banks are processed and settled on deferred net settlement (DNS) basis at fixed times during the day. Under RTGS, payment instructions between banks are processed and settled individually and continuously, on a real time basis, throughout the day. SBI Hikes Minimum Balance For Savings Account: Know The Charges

Charges

Earlier, SBI charged Rs 2 for fund transfers up to Rs 10,000 through NEFT using the internet or mobile banking modes. Now, this has been reduced to Rs 1 (excluding GST of 18 per cent). For NEFT transactions from Rs 10,000 to Rs 1 lakh, the charge has been reduced to Rs 2 from Rs. 4 earlier.

IMPS charges

In a view to promoting fund transfers of small amount up to Rs 1000, SBI has waived off fees on fund transfers executed through IMPS or Immediate Payment Service yesterday. What Are The New SBI Service Charges?