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.
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• 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