Union Bank of India RTGS Charges, Timings, Limits & How to Transfer

Union Bank of India is one of the country’s most trusted public sector banks, offering a wide range of digital and branch banking services. For high‑value transactions that require immediate settlement, RTGS (Real Time Gross Settlement) remains a preferred choice. In this article, we’ll break down everything you need to know about Union Bank of India RTGS charges, timings, transaction limits, and how to transfer money using RTGS.

What Is RTGS?

RTGS stands for Real Time Gross Settlement, an electronic funds transfer system regulated by the Reserve Bank of India (RBI). As the name suggests:

• Real Time: Transactions are processed immediately once authorized.
• Gross Settlement: Each transaction is settled individually without netting with other transactions.

Unlike NEFT (which settles in half‑hourly batches), RTGS processes each transfer instantly — making it ideal for urgent high‑value payments.

Common uses of RTGS include:

• Corporate vendor payments
• Large personal remittances
• Property or investment transfers
• Urgent business disbursements

Union Bank of India RTGS Charges

Union Bank of India has a customer‑friendly fee structure for RTGS, especially emphasizing digital banking.

Online RTGS Charges

• Internet Banking: Free
• Mobile Banking App: Free

Union Bank of India does not charge any fees for RTGS transactions initiated through internet banking or the mobile banking app. This makes online RTGS transfers both cost‑effective and convenient — especially for frequent or high‑value transactions.

Branch RTGS Charges

If you choose to initiate RTGS at a bank branch, nominal charges apply based on the transaction amount (charges exclusive of GST):

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

While these branch charges are modest, online RTGS transfers remain entirely free, making digital channels the preferred option for most customers.

RTGS Timings at Union Bank of India

Online RTGS

Thanks to RBI’s extended RTGS operating schedule, Union Bank of India allows 24×7 RTGS transfers through internet banking and mobile banking — including Sundays and bank holidays. This means you can initiate high‑value transfers any time of the day or night without being restricted to traditional banking hours.

Branch RTGS

For RTGS requests submitted at a bank branch counter:

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

Even if requested offline, the RTGS process settles the transaction immediately upon authorization.

Union Bank of India RTGS Limits

RTGS is designed primarily for large amounts. RBI stipulates a minimum threshold, but there is no maximum cap:

What This Means

• Minimum Amount: RTGS must be used for transfers of ₹2 lakh or more — this is mandated by the RBI.
• Maximum Limit: RBI does not impose a maximum limit for RTGS. While Union Bank of India may have internal caps depending on the channel (internet, mobile, branch) and customer profile, generally very high amounts can be transferred as needed.

This makes RTGS ideal for urgent high‑value payments that need immediate credit to the beneficiary’s account.

How to Transfer Money via RTGS in Union Bank of India

Here’s a step‑by‑step guide to help you transfer funds using RTGS:

Step 1 — Log In

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

Step 2 — Add a Beneficiary

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

• Beneficiary Name
• Bank Account Number
• IFSC Code (Union Bank IFSC begins with UBIN0…)

Submit and save. Beneficiary activation may take a short time depending on security verification.

Step 3 — Initiate RTGS

Once the beneficiary is active:

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

Step 4 — Authenticate

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

Step 5 — Confirmation

After the RTGS transfer is successful, save or screenshot the UTR (Unique Transaction Reference) number. This reference is essential for tracking and reconciliation.

Benefits of RTGS with Union Bank of India

• Instant settlement: Funds are credited immediately
• Free online transfers: No fees via digital channels
• 24×7 availability: Transfer at any time, including holidays
• Ideal for large amounts: No RBI upper limit
• Safe and regulated: Backed by RBI guidelines

Tips for Users

• Always verify the beneficiary’s account number and IFSC code before confirming the transfer.
• Add beneficiaries in advance to avoid delays in urgent situations.
• Use internet or mobile banking for faster and free transactions.
• Keep your UTR number handy for tracking or reconciliation.

Conclusion

Union Bank of India’s RTGS facility is a secure, fast, and cost‑effective solution for high‑value fund transfers across India. With zero online charges, real‑time settlement, and 24×7 availability, RTGS is a must‑use option for businesses and individuals alike when transferring large amounts.

To make the most of this powerful tool, use internet or mobile banking — it’s quick, reliable, and free. RTGS takes the stress out of high‑value transfers, giving you peace of mind every time.