SBI RTGS/NEFT Transfer: How to Send Money Online

RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer) are RBI-operated fund transfer systems available through SBI. Both are now available 24x7, 365 days and SBI charges zero fees for online transactions. This guide covers how to add a beneficiary and send money via SBI net banking and YONO app.

RTGS vs NEFT: Key Differences

Note: As per RBI mandate, banks cannot charge for NEFT and RTGS transactions done online. SBI online RTGS/NEFT is completely free.

Documents Required

To set up NEFT/RTGS online, you need:

• Active SBI savings/current account
• SBI internet banking or YONO app registered and activated
• Beneficiary's account number and IFSC code
• Registered mobile number for OTP verification

No physical documents are needed for online transfers — everything is done digitally.

Step 1: Add Beneficiary in SBI Net Banking

Before sending money, you must add the recipient as a beneficiary. This is a one-time process.

Via SBI Net Banking (OnlineSBI):

1. Log in to OnlineSBI with your username and password
2. Go to "Payments/Transfers" → "Manage Beneficiary"
3. Click "Add Beneficiary"
4. Enter the beneficiary details:
   • Beneficiary name (as per bank records)
   • Account number
   • IFSC code of the beneficiary's bank branch
   • Transfer limit (optional)
5. Confirm with OTP sent to your registered mobile
6. Beneficiary is added but activated after a cooling period of 4-24 hours
7. You will receive an SMS once the beneficiary is activated

Via YONO App:

1. Open YONO SBI and log in
2. Go to "Money Transfer" → "Add Beneficiary"
3. Enter account number, IFSC code, and name
4. Verify with OTP
5. Wait for the cooling period (4–24 hours) before making the first transfer

Important: The cooling period is a security measure. Plan ahead if you need to make an urgent transfer.

Step 2: Send Money via NEFT (Below ₹2 Lakh)

Via SBI Net Banking:

1. Log in to OnlineSBI
2. Go to "Payments/Transfers" → "NEFT"
3. Select the beneficiary from your added list
4. Enter the transfer amount
5. Add remarks/narration (optional but recommended)
6. Confirm the transaction details
7. Authenticate with OTP or profile password
8. Transaction is submitted — you'll receive a UTR number (Unique Transaction Reference)
9. Money is credited to the beneficiary's account within 30 minutes (usually faster)

Via YONO App:

1. Open YONO → "Money Transfer"
2. Select "NEFT" and choose the beneficiary
3. Enter amount and remarks
4. Confirm with YONO PIN or OTP
5. Done — check transaction status under "Transaction History"

Step 3: Send Money via RTGS (₹2 Lakh and Above)

Via SBI Net Banking:

1. Log in to OnlineSBI
2. Go to "Payments/Transfers" → "RTGS"
3. Select the beneficiary
4. Enter the amount (minimum ₹2,00,000)
5. Add remarks (optional)
6. Confirm and authenticate with OTP
7. Money is transferred instantly — credited to the beneficiary's account in real-time
8. You receive the UTR number for tracking

Via YONO App:

1. Open YONO → "Money Transfer"
2. Select "RTGS" and choose the beneficiary
3. Enter amount (minimum ₹2 lakh)
4. Confirm with YONO PIN
5. Transfer happens instantly

Charges for RTGS/NEFT via SBI

Bottom line: Always use net banking or YONO to transfer via NEFT/RTGS — it's completely free.

Transaction Limits

Note: These are default limits. You can request higher limits at your SBI branch with additional verification.

NEFT/RTGS Timing

Both NEFT and RTGS are available 24 hours a day, 7 days a week, including holidays as per RBI guidelines. There is no downtime except for brief maintenance windows announced by RBI.

How to Track Your NEFT/RTGS Transaction

1. Note the UTR number provided after the transaction
2. Check status via:
   • OnlineSBI: Account Statement → filter by date
   • YONO: Transaction History
   • SMS: Transaction confirmation is sent to registered mobile
3. If the beneficiary hasn't received the amount, contact SBI customer care at 1800-11-2211
4. For NEFT, if the beneficiary account details are wrong, the amount is returned within 2 hours

Important Tips

1. Always use online channels — NEFT/RTGS is free via net banking and YONO, but branches charge fees
2. Double-check account number and IFSC — Wrong details can delay or misdirect your payment
3. Add beneficiary in advance — There's a 4–24 hour cooling period before you can transfer
4. Use NEFT for amounts below ₹2 lakh — It's practically instant now with 24x7 settlement
5. Save the UTR number — This is your proof of transfer and needed for any dispute resolution

Frequently Asked Questions

Q1. Is SBI NEFT/RTGS available 24x7?

Yes, both NEFT and RTGS are available 24 hours a day, 7 days a week, including Sundays and bank holidays.

Q2. Does SBI charge for NEFT/RTGS online?

No, SBI does not charge any fee for NEFT and RTGS transactions done through net banking or YONO app. Branch transactions have nominal charges.

Q3. What is the minimum amount for RTGS transfer?

The minimum amount for RTGS is ₹2,00,000 (₹2 lakh). For amounts below ₹2 lakh, use NEFT.

Q4. How long does SBI NEFT take to credit?

NEFT transfers are settled in batches every 30 minutes. In practice, most NEFT transfers are credited within 30 minutes to 1 hour.

Q5. What is the beneficiary cooling period in SBI?

After adding a new beneficiary in SBI net banking or YONO, there is a cooling period of 4–24 hours before you can make the first transfer. This is a security measure.

Q6. Can I cancel an NEFT/RTGS transaction after submission?

Once submitted, NEFT/RTGS transactions cannot be cancelled. If the beneficiary details are incorrect, NEFT returns the amount automatically within 2 hours. For RTGS, contact SBI immediately.

Q7. What if I enter the wrong account number?

If the account number is valid but belongs to a different person, recovering the money can be difficult. Always verify account details before transferring. If the account doesn't exist, the money is automatically returned.

This guide is for informational purposes only and is not affiliated with the State Bank of India or the Reserve Bank of India. Please verify all details on the official SBI website and RBI website. Transaction limits and charges are subject to change.