National Electronic Fund Transfer (NEFT) & Real Time Gross Settlement (RTGS)
Making Funds Transfer Easy & Secure
NEFT Overview
NEFT is a popular electronic funds transfer system in India that enables one-to-one transfers of funds between bank accounts. Unlike RTGS, NEFT operates in batches and settles transactions periodically throughout the day.
Key Details
- Minimum amount: No lower limit for transferring money through NEFT.
- Maximum amount: No upper limit for transferring money through NEFT.
RTGS Overview
RTGS is a system designed for high-value interbank money transfers in India. It allows for instant and real-time transfer of funds on a gross basis. RTGS is typically employed for large-value transactions.
Key Details
- Minimum amount: ₹2,00,000
- Maximum amount: No limit.
Remittance Information
The remitting customer must provide the following details for making a NEFT/RTGS transaction:
- 1. Name of the Beneficiary Bank.
- 2. Name of the Beneficiary Customer.
- 3. Account type and Number of the Beneficiary Customer.
- 4. Amount to be remitted.
- 5. Remitting customer’s account type and Number which is to be debited.
- 6. Sender to Receiver information, if any.
Outward Remittance Charges (Effective from 28-09-2022)
Inward Remittance (No charges)
There are no charges levied for inward remittance for both NEFT and RTGS transactions.
Outward Remittance Charges (Effective from 28-09-2022)
| NEFT/RTGS CHARGES W.E.F 28-09-2022 | Rs.1 to Rs.1,00,000 | Rs.1,00,001 to Rs 2,00,000 | Rs.2,00,001 to Rs. 5,00,000 | Rs.5,00,001 to Rs. 2,00,00,000 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SERVICE CHARGES | CGST | SGST | TOTAL | SERVICE CHARGES | CGST | SGST | TOTAL | SERVICE CHARGES | CGST | SGST | TOTAL | ||
| SAVINGS BANK ACCOUNTS | 0 | 0 | 0 | 0 | 0 | 15 | 1.5 | 1.5 | 18 | 25 | 2.5 | 2.5 | 30 |
| CURRENT ACCOUNTS | 0 | 15 | 1.5 | 1.5 | 18 | 15 | 1.5 | 1.5 | 18 | 25 | 2.5 | 2.5 | 30 |
| OVER DRAFT | 0 | 15 | 1.5 | 1.5 | 18 | 15 | 1.5 | 1.5 | 18 | 25 | 2.5 | 2.5 | 30 |
| OVER DRAFT AGANIST GOLD | 0 | 15 | 1.5 | 1.5 | 18 | 15 | 1.5 | 1.5 | 18 | 25 | 2.5 | 2.5 | 30 |
| OVER DRAFT AGANIST PROPERTY | 0 | 15 | 1.5 | 1.5 | 18 | 15 | 1.5 | 1.5 | 18 | 25 | 2.5 | 2.5 | 30 |
| CASH CREDIT | 0 | 15 | 1.5 | 1.5 | 18 | 15 | 1.5 | 1.5 | 18 | 25 | 2.5 | 2.5 | 30 |
| CASH CREDIT FISH FEEDS | 0 | 15 | 1.5 | 1.5 | 18 | 15 | 1.5 | 1.5 | 18 | 25 | 2.5 | 2.5 | 30 |