Bank of Maharashtra RTGS Charges, Timings, Limits & How to Transfer

Bank of Maharashtra is one of India’s oldest and most trusted public sector banks, serving millions of customers across the country. For high‑value and urgent fund transfers, the bank offers the RTGS (Real Time Gross Settlement) system — a secure and instantaneous method to move large sums of money. In this article, we’ll explain everything you need to know about RTGS charges, timings, transaction limits, and how to transfer money using RTGS in clear and simple terms.

What Is RTGS?

RTGS stands for Real Time Gross Settlement. It is a funds transfer system regulated by the Reserve Bank of India (RBI) that processes transactions immediately on a transaction‑by‑transaction basis — without any waiting for batch settlements. Unlike NEFT (which uses batch cycles), RTGS transfers are processed in real time, making it ideal for large and time‑sensitive payments.

RTGS is commonly used for:

• High‑value business payments
• Urgent vendor or supplier settlements
• Large personal remittances
• Property and investment transfers

Bank of Maharashtra RTGS Charges

Bank of Maharashtra has a simplified and customer‑friendly fee structure for RTGS, especially when transactions are made online.

Online RTGS Charges

• Internet Banking: Free
• Mobile Banking App: Free

The bank does not charge any fees for RTGS transactions initiated through its internet banking or mobile banking platforms. This zero‑fee structure encourages customers to use digital channels — making high‑value transfers both convenient and economical.

Branch RTGS Charges

If you prefer to initiate RTGS at a bank branch, nominal charges apply based on the value of the transfer. These charges are typical of public sector banks and are inclusive before GST:

GST (Goods and Services Tax) will be added where applicable.

Even though branch charges exist, digital RTGS transfers remain entirely free, making online banking the preferred option for most customers.

RTGS Timings at Bank of Maharashtra

Online RTGS

Thanks to the Reserve Bank of India’s extended RTGS availability, customers of Bank of Maharashtra can initiate RTGS transactions 24×7, 365 days a year — including Sundays and bank holidays — using internet banking or the mobile banking app.

This continuous availability ensures you can send large funds anytime, even outside regular business hours.

Branch RTGS

For requests submitted at a branch counter, RTGS services are available during normal banking hours:

• Monday to Friday: Usually 10:00 AM – 4:00 PM
• Saturday: Shorter hours (varies by branch)

Once submitted, the actual RTGS settlement continues immediately, following the real‑time process.

Bank of Maharashtra RTGS Limits

RTGS is designed for high‑value transfers, and accordingly, RBI mandates a minimum transaction amount of ₹2 lakh for RTGS.

The minimum amount for RTGS is ₹2 lakh as per RBI guidelines. There is no maximum limit prescribed by RBI, making RTGS suitable for very large transfers. Bank of Maharashtra may impose internal limits based on channel and customer profile, but generally, digital channels allow higher amounts with proper authentication.

How to Transfer Money via RTGS in Bank of Maharashtra

Here’s a step‑by‑step guide to transferring funds using RTGS:

Step 1 — Log In

• Visit the official Bank of Maharashtra website: https://bankofmaharashtra.bank.in/
• Login to your Internet Banking account or open the Mobile Banking App.

Step 2 — Add a Beneficiary

Navigate to Funds Transfer → Add Beneficiary/Manage Payee and enter:

• Beneficiary Name
• Account Number
• IFSC Code (Bank of Maharashtra IFSC begins with MAHB0…)

Submit and save. Beneficiary activation may take a little time for security purposes.

Step 3 — Initiate RTGS

Once the beneficiary is active:

1. Go to Funds Transfer → RTGS
2. Select the beneficiary
3. Enter the amount (minimum ₹2 lakh)
4. Add remarks (optional)

Step 4 — Authenticate

You will receive an OTP (One‑Time Password) or be prompted for a transaction PIN. Enter it to authorize the transfer.

Step 5 — Confirmation

After the transfer is successful, note or save the UTR (Unique Transaction Reference) number. This is crucial for tracking or future reference.

Benefits of Using RTGS with Bank of Maharashtra

• Real‑time settlement: Funds are credited instantly.
• Free online transfers: No charges for digital RTGS.
• 24×7 availability: Transfer anytime via net or mobile banking.
• Ideal for high‑value payments: No maximum limit (subject to bank policy).
• Safe and regulated: Secured by RBI guidelines.

Important Tips for Users

• Always verify the beneficiary account number and IFSC code before confirming the transfer.
• Add beneficiaries ahead of time to avoid delays in urgent transfers.
• Use online methods for secure, fast, and free transfers.
• Keep your UTR number saved for tracking and reconciliation.

Conclusion

Bank of Maharashtra’s RTGS service is a fast, secure, and cost‑effective solution for transferring high‑value funds across India. With zero digital charges, round‑the‑clock availability, and instant settlement, RTGS makes large‑value transactions simpler and more reliable than ever.

For the best experience with high‑value transfers, customers are encouraged to use internet or mobile banking to initiate RTGS — an easy, efficient, and free way to move money when it matters most.