Timings for SBI Funds Transfer

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 2nd and 4th 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:

Date   Date   
1 Jan 2023New Year’s Day   
4 Jan 2023Odisha Day   
5 Jan 2023Guru Gobind Singh Jayanti   
11 Jan 2023Missionary Day   
12 Jan 2023Swami Vivekananda Jayanti   
13 Jan 2023Boghi   
14 Jan 2023Makara Sankranti   
15 Jan 2023Magh Bihu   
Surya Pongal   
Thiruvalluvar Day   
16 Jan 2023Mattu Pongal   
Uzhavar Thirunal   
17 Jan 2023Kaanum Pongal   
22 Jan 2023Sonam Losar  
23 Jan 2023Netaji Subhas Chandra Bose Jayanti   
25 Jan 2023State Day   
26 Jan 2023Republic Day   
Vasant Panchami  
31 Jan 2023   Me-Dum-Me-Phi   
2 Feb 2023   Sonam Losar   
5 Feb 2023  Hazrat Ali Jayanti  
18 February 2023  Maha Shivaratri  
20 Feb 2023   State Day   
21 Feb 2023  Losar  
5 Mar 2023   Panchayati raj Divas   
8 March 2023  Holi  
10 March 2023 Chhatrapati Shivaji Maharaj Jayanti  
18 Mar 2023   Doljatra   
19 Mar 2023     Holi   
22 Mar 2023   Bihar Day   
Gudi Padwa  
Ugadi  
23 Mar 2023   S. Bhagat Singh’s Martyrdom Day   
24 March 2023  Sarhul  
30 March 2023  Ram Navami  
2 Apr 2023     Telugu New Year   
4 Apr 2023  Mahavir Jayanti  
5 Apr 2023   Babu Jagjivan Ram Jayanti   
7 Apr 2023  Good Friday  
8 Apr 2023    Easter Saturday  
9 Apr 2023  Easter Sunday  
14 Apr 2023   Bohag Bihu Holiday   
Vaisakh   
Dr Ambedkar Jayanti   
TamilTamil New Year   
Maha Vishuba Sankranti   
Bohag Bihu   
Cheiraoba   
15 April 2023  Vishu  
Bengali New Year   
Himachal Day   
17 Apr 2023    Patriots Day  
21 Apr 2023   Garia Puja   
22 April 2023  Maharshi Parasuram Jayanti  
Idul Fitr  
23 April 2023  Basava Jayanti  
29 Apr 2023   Shab-i-Qadr   
Jumat-ul-Wida   
1 May 2023   Maharashtra Day   
May Day   
2 May 2023  Guru Ravidas Jayanti  
5 May 2023  Buddha Purnima  
4 May 2023     Idul Fitr Holiday   
16 May 2023   State Day   
22 June 2022  Maharana Pratap Jayanti  
24 May 2023     Kazi Nazrul Islam Jayanti   
2 Jun 2023   Telangana Formation Day   
3 Jun 2023   Sri Guru Arjun Dev Ji’s Martyrdom Day   
4 Jun 2023   Sant Guru Kabir Jayanti   
14 Jun 2023  Pahili Raja   
15 Jun 2023    Raja Sankranti   
YMA Day   
20 Jun 2023  Ratha Yatra  
25 June 2023  Bonalu  
26 Jun 2023   Kharchi Puja   
29 Jun 2023    Bakrid / Eid al Adha  
30 Jun 2023     Remna Ni   
5 Jul 202   Guru Hargobind Ji’s Birthday   
6 Jul 2023   MHIP Day   
11 Jul 2023  Bakrid / Eid al Adha Holiday   
13 Jul 2023     Martyrs’ Day   
Bhanu Jayanti   
17 Jul 2023   U Tirot Sing Day   
29 Jul 2023 Muharram  
31 Jul 2023   Shaheed Udham Singh’s Martyrdom Day   
8 Aug 2023   Tendong Lho Rum Faat   
13 Aug 2023   Patriots Day   
15 Aug 2023   Independence Day   
16 Aug 2023   De Jure Transfer Day   
Parsi New Year   
28 August 2023  First Onam  
Parkash Utsav Sri Guru Granth Sahib Ji   
29 August 2023  Thiruvonam  
Hartalika Teej   
30 Aug 2023  Jhulan Purnima  
Raksha Bandhan  
1 Sep 2023     Ganesh Chaturthi Holiday   
5 September 2023  Guru Rabindranath Jayanti  
7 Sep 2023  Janmashtami  
19 Sep 2023  Haryali Teej  
Ganesh Chaturthi  
20 September  Nuakhai  
21 Sep 2023   Sree Narayana Guru Samadhi   
23 Sep 2023   Heroes’ Martyrdom Day   
25 Sep 2023  Ramdev Jayanti  
Teja Dashmi  
28 Sep 2023 Indra Jatra   
S. Bhagat Singh Ji Jayanti   
Eid e Milad   
29 Sep 2023  Sree Narayana Guru Jayanti   
2 Oct 2023  Gandhi Jayanti   
9 Oct 2023    Lakshmi Puja   
14 Oct 2023   Friday Following Eid e Milad   
First Day of Bathukamma   
Mahalaya Amavasye  
15 Oct 2023    Maharaja Agrasen Jayanti   
Ghatasthapana   
21 Oct 2023  Maha Saptami  
24 Oct 2023  Vijaya Dashami   
28 Oct 2023  Maharishi Valmiki Jayanti   
26 Oct 2023     Deepavali Holiday   
31 Oct 2023   Sardar Vallabhbhai Patel Jayanti   
1 Nov 2023     Kut   
Puducherry Liberation Day   
Haryana Day   
Kannada Rajyothsava   
4 Nov 2023   Lhabab Duchen   
12 Nov 2023  Diwali   
13 Nov 2023  Vikram Samvat New Year   
14 Nov 2023  Bhai Dooj   
19 Nov 2023  Chhath Puja   
20 Nov 2023  Chhath Puja Holiday   
23 Nov 2023   Seng Kut Snem   
27 Nov 2023  Karthika Purnima   
Guru Nanak Jayanti   
28 Nov 2023     Sri Guru Teg Bahadur Ji’s Martyrdom Day   
30 Nov 2023  Kanakadasa Jayanti   
1 Dec 2023  Indigenous Faith Day   
3 Dec 2023   Feast of St Francis Xavier   
5 Dec 2023    Sheikh Muhammad Abdullah Jayanti   
12 Dec 2023     Pa Togan Nengminza Sangma   
18 Dec 2023     Death Anniversary of U SoSo Tham   
Guru Ghasidas Jayanti   
19 Dec 2023   Liberation Day   
25 Dec 2023     Christmas Day   
26 Dec 2023   Shaheed Udham Singh Jayanti   
29 Dec 2023    Guru Gobind Singh Jayanti   
30 Dec 2023   U Kiang Nangbah   
30 Dec 2023   Tamu Losar   
31 Dec 2023   New Year’s Eve   

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. 

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DaysTime Slot
Monday – Saturday8.00 am to 7.00 pm
NEFT services are not available on bank holidays, including, the 2nd and 4th Saturday

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

Transaction Amount NEFT Charges (excluding GST)
Up to INR 10,000INR 2
INR 10,000 – INR 1 lakhINR 5
INR 1 lakh – INR 1=2 lakhINR 15
Above INR 2 lakhsINR 25

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). 

DaysTime Slot
Monday – Saturday8.00 am to 4.30 pm
RTGS services not available on 2nd and 4th Saturday

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

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Transaction AmountRTGS Charges (excluding GST)
INR 2 lakhs – INR 5 lakhsINR 25
Above INR 5 lakhsINR 50
ranjita shalgar
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