Real Time Gross Settlement (RTGS)
Need to transfer funds immediately? RTGS (Real Time Gross Settlement) is a payment service that allows you to transfer funds on a 'real time' and on 'gross' basis. This mode of payment involves continuous (real-time) settlement of funds transfers individually on an order by order basis (without netting). Federal Bank is the first bank in India to provide RTGS fund transfer facility in all it's branches.
Features & Benefits
Timings for RTGS
| Day | Through Branch | Through FedNet |
|---|---|---|
| Monday to Saturday | During business hours | 7 a.m to 6.00 p.m |
RTGS will not be available on second and fourth Saturdays of the month.
Customer Facilitation Centres (CFC)
For getting assistance on RTGS transactions, please visit Directory of customer facilitation centres of all banks provided by RBI.
IFS Codes
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NACH / Electronic Clearing Services (ECS)
Features & Benefits
Federal Bank offers NACH/ ECS services that will enable you to make repetitive and periodic payments/ receipts with ease.
AWB Services
Features & Benefits
Anywhere Banking is a highly secure and convenient system for online, real-time inter branch transactions across the Bank. Anywhere banking offers you greater flexibility, transaction power, convenience and ease in banking.
E-Maintenance
Features & Benefits
Federal Bank's E-Maintenance is an easy solution for fee collection requirements of Apartments, Residents' Associations and Housing Societies. It is also advantageous for the Tenants, since they can do away with the troubles of making payment towards maintenance. Payments of monthly maintenance fees can be made by Cash/ Cheque deposit at any Federal Bank branch, NEFT/RTGS from other Banks, through any Debit/Credit Cards/ Internet Banking of any Bank.
Safe Deposit Lockers
Features & Benefits
Protect your valuables with Safe Deposit Locker facilities from Federal Bank. Lockers available in various sizes. i.e. Small, Medium and Large with varying rents, at selected branches in cities / towns all over the country.
Telebanking Services
Features & Benefits
Do your Banking on the go with Tele-Banking facility from Federal Bank offering a host of services that you can avail via your telephone. Telebanking facility can be availed from any land line / mobile connection.
ATM Services
Features & Benefits
Federal Bank has a wide network of Automatic Teller Machines (ATMs) that cater your needs 24x7.
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What is RTGS?
RTGS stands for Real-Time Gross Settlement. It is an electronic fund transfer system in India, where funds are transferred from one bank to another on a real-time and gross basis.
How does RTGS differ from NEFT?
RTGS and NEFT are both electronic fund transfer systems in India, but the main difference is that RTGS allows for instant and real-time transfer of funds, while NEFT operates in batches and may take some time for funds to be credited.
Is there any minimum amount for RTGS transactions?
Yes, the minimum amount for an RTGS transaction in India is usually set at ₹2 lakhs. Any transfer below this threshold can be done through NEFT.
Can I transfer funds through RTGS on public holidays?
No, RTGS transactions are not available on bank holidays in India. They are only processed on working days.
Are there any charges for RTGS transactions?
Yes, banks usually charge a nominal fee for RTGS transactions. The charges may vary depending on the bank and the amount being transferred.
How long does it take for an RTGS transaction to be completed?
RTGS transactions are processed in real-time, and the funds are credited instantly to the beneficiary's account. The process is usually completed within a few minutes.
Can I transfer funds internationally through RTGS?
No, RTGS is a domestic fund transfer system in India. It can only be used for transferring funds within the country.
Is there any maximum limit for RTGS transactions?
No, there is no maximum limit for RTGS transactions in India. You can transfer large amounts of money through RTGS, subject to the availability of funds in your account.
What information do I need to provide to initiate an RTGS transfer?
To initiate an RTGS transfer, you need to provide the beneficiary's bank account number, name, and the bank's Indian Financial System Code (IFSC).
Can I cancel an RTGS transaction once it is initiated?
No, once an RTGS transaction is initiated and the funds are debited from your account, it cannot be canceled. Therefore, it is important to verify the details before initiating the transfer.
Can I track the status of my RTGS transaction?
Yes, you can track the status of your RTGS transaction by contacting our Contact Centre or Branch or through our digital banking channels such as FedNet Internet Banking or FedMobile Mobile Banking app.
What happens if the beneficiary's bank account is not credited after an RTGS transaction?
If the beneficiary's account is not credited after an RTGS transaction, the amount will be refunded to your account within a specified time frame, usually within two working days.
Can I schedule future-dated RTGS transactions?
Yes, you can schedule future-dated RTGS transactions through Internet Banking or Mobile Banking. This allows you to set a date in advance for the transfer of funds.