What Are Syndicate Bank NEFT/RTGS/IMPS Charges and Timings?

Syndicate Bank Net Banking Charges

Syndicate Bank is one of the oldest and major commercial banks in India, it offers loans for different purposes at an easy interest rate. Syndicate Bank was merged with Canara bank on 1 April 2020. The bank is known for its premium Syndicate Bank NEFT/RTGS/IMPS Charges and Timings service.

Let us talk about the Syndicate Bank Net Banking services charges.

Syndicate Bank NEFT Charges

  • Syndicate Bank’s NEFT/RTGS/IMPS Charges and Timing services are well known for their efficiency
  • The bank offers its customers NEFT transfer facility during bank’s working hours from Monday to Saturday except for bank holiday
  • You will be charged a minimal fee of Rs 2.5 for Neft transfer of amount below Rs 10000 and a fee of Rs 5 will be charged when the amount is between Rs 10000 to Rs 1 lakh
  •  A fee of Rs 15 will be charged for the NEFT transfer of the amount between Rs 1 lakh to Rs 2 lakh and charges will be Rs 25 for any amount above 2 lakh

Benefits of Using Syndicate Bank NEFT:

  • A convenient and reliable method for money transfer with almost no risk involved
  • The NEFT transfer charges are affordable and thus provide a hassle-free process to transfer money
  • If there is any glitch in transferring of funds the funds will be redirected to your account as soon as possible
  • The Reserve Bank of India (RBI) handles the fund transfer process making it a reliable system

Limitations of Syndicate Bank NEFT:

  • NEFT services cannot be accessed on bank holidays
  • NEFT service cannot be used during an emergency
  • NEFT transfer is not as speedy as IMPPS as NEFT transfer is done through a batch-wise process which delays the transfer

Syndicate Bank RTGS Charges:

  • Syndicate Bank offers its account holders RTGS facility at affordable charges
  • RTGS facility is available during working hours from Monday to Saturday, users cannot use the RTGS facility on Sundays and bank holidays
  • For Syndicate Bank the minimum transaction through RTGS should be of Rs 2 lakh and you will not be charged for the transaction of Rs 2 lakh
  • You will be charged a fee of Rs 25 (excluding taxes) for any amount between Rs 2 lakh to Rs 5 lakh
  • For the amount between Rs 5 lakh to Rs 10 lakh you will be charged Rs 50 ( excluding taxes)

Benefits of Syndicate Bank RTGS :

  • Transfer through RTGS is reliable and secure as it is backed by RBI
  • Processed immediately
  • Funds are credited on a one-on-one basis, transactions are executed on an individual and gross basis

Limitations of Syndicate Bank RTGS :

  • Has a minimum limit of Rs 2 Lakh
  • More suitable for high-value transactions

Syndicate Bank IMPS Charges:

  •  IMPS is an abbreviation for “Immediate Payment Services”. Syndicate Bank’s account holders can avail of IMPS service 24×7 even on holidays
  • The minimum IMPS limit is Rs 1 and the maximum limit is Rs 2 lakh
  • Syndicate Bank will charge you Rs 5 per transaction for any amount up to Rs 1 lakh and Rs 15 per transaction when the amount is between Rs 1,00,001 to Rs 2 lakh
  • Syndicate Bank IMPS transfer can be done by using mobile and MMID (phone to phone) and also by using your account number and IFSC code (phone to account)

Benefits of Syndicate Bank IMPS

  • You can use Syndicate Bank’s IMPS service round the clock for 365 days
  • It’s reliable for quick and low-value transactions

Limitations Of Syndicate Bank IMPS

  • It has a maximum limit of Rs 2 lakh per transaction
  • Not all banks in India have enabled the IMPS system

You May Also Like to Read:

Syndicate Bank Internet Banking Registration
State Bank of Patiala Net Banking Registration
All Bank Balance Enquiry Number List

We hope that we have helped you understand Syndicate Bank’s NEFT/RTGS/ IMPS Timing and Charges system

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