Syndicate Bank is one of the oldest and major commercial banks of India which was founded by T M A Pai, Upendra Pai and Vaman Kudva. The bank, along with 13 major commercial banks of India, was nationalised on 19 July 1969, by the Government of India.

SyndInstant - (RTGS System for instant transfer of funds)

Real Time Gross Settlement (RTGS) is a technology based initiative for improvement of Payment & Settlement System linked to the funds management.

RTGS is a gross settlement in which both processing and final settlement of funds transfer instructions take place continuously i.e. in real time and transfers are settled individually against the present clearing system.

RTGS settles payments on a transaction basis instead of on net settlement basis adopted presently at clearinghouses. The funds transfer through RTGS is instant, final and irrevocable.

It is a remittance solution to both corporate customers and individual customers for transfer of funds from their accounts with us to other customers of other bank branches, which are RTGS, enabled.

The product is operative only in RTGS – enabled CBS branches .At present available in 178 of our branches.

At present customer transaction of Rs.1.00 lakh and above are allowed under RTGS. The Charges for RTGS fund transfer are as follows,

Rs. 1.00 per 1000/- (maximum of Rs.5000/-)
No charges for RTGS (INWARD)

Syndicate Bank RTGS Commission / Service Charges :

Range Transaction Charge
Rs. 2 lakh to Rs.5 lakh Rs. 25/- per transaction + ‘applicable taxes’
Rs. 5 lakh and above Rs. 50/- per transaction + ‘applicable taxes’