HDFC Bank makes RTGS, NEFT online transactions free from Nov 1

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Private lender HDFC Bank has made online transactions through RTGS and NEFTfree of charge from November 1, with an aim to promote a digital economy.
On the other hand, various charges for cheque-related transactions as well as request for additional leaves will get costly from early next month for non-managed savings and salary accounts.

According to the revised fees and charges for savings and salary accounts, customers will not be charged for making online transactions through Real Time Gross Settlement (RTGS) and the National Electronics Funds Transfer (NEFT) from November 1, 2017.

Earlier, customers were levied ₹25 each for transactions worth ₹2 lakh to ₹5 lakh via RTGS, and ₹50 each for such money transfers over ₹5 lakh. Online NEFT transactions attracted a fee of ₹2.5 for transactions less than ₹10,000, ₹5 for those between ₹10,001 and ₹1 lakh, and ₹15 for those whose value ranges from ₹1 lakh to ₹2 lakh.

For NEFT transactions of over ₹2 lakh, there was a fee of ₹25. However, any NEFT or RTGS transaction carried out at the bank branch will be payable.

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