An improved battery charger circuit for rapidly charing a battery by increasing the rate of battery charge acceptance through periodic battery discharge during the charging process includes a pair of first and second controlled rectifier circuits coupled to an AC source and adapted for coupling to a battery. The first controlled rectifier circuit is rendered conductive during the charging intervals to supply the battery with charge current from the AC source. The second controlled rectifier circuit is rendered conductive during battery discharge intervals to discharge the battery in a substantially lossless manner by conducting battery discharge current through the AC source, thus realizing a highly efficient battery charger.