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FAQs
Difference Between IMPS, NEFT & RTGS - Charges & Limits? ›
NEFT, RTGS, and IMPS are popular online transfer methods. They differ in settlement speed, transfer limits, service availability, and charges. NEFT operates in half-hourly batches, RTGS offers real-time settlements, while IMPS is instantaneous. Each has unique fund transfer limits and charges.
What are the charges for NEFT RTGS and IMPS? ›NEFT and IMPS charges are decided on the bank's discretion. NEFT charges start from a minimum of Rupees 1 per transaction and go up to Rupees 25 per transaction. IMPS charges usually start from a minimum of Rupees 5 per transaction and can go up to Rupees 15 per transaction.
What is the limit of NEFT and IMPS? ›IMPS is ideal for transactions of up to ₹5 Lakhs, whereas RTGS is ideal for transactions above ₹2 Lakhs. NEFT, meanwhile, is the most flexible with no maximum transfer limit.
What is the limit of RTGS and NEFT? ›RTGS transactions involve large amounts of cash, basically only funds above Rs 200,000 may be transferred using this system. For NEFT, any amount below Rs 200,000 may be transferred, and this system is generally for smaller value transactions involving smaller amounts of money.
Can I transfer 20 lakhs through RTGS? ›The maximum amount that can be transferred under this system can vary across banks. There is no upper limit set by the RBI for RTGS transactions. For example, the maximum transfer amount is Rs. 20 lakhs per day at IDFC First Bank and a maximum of Rs.
What is the limit of IMPS? ›Immediate Payment Service (IMPS) is an instant money transfer system with a daily limit of Rs. 5 lakh. Charges vary based on transaction amounts. Available for 24/7, IMPS transactions can be done via net banking, mobile banking, or USSD.
What is the maximum limit of IMPS? ›The maximum transfer limit of funds through IMPS is Rs. 5 lakh. However, it may vary from bank to bank.
What is the RTGS limit? ›– RTGS transfer limits
There's a minimum limit of Rs. 2 lakhs for RTGS transactions, and there's no maximum limit as such. To get an RTGS-enabled account, you can either contact your bank or check your eligibility status in your online banking portal.
NEFT/RTGS/IMPS Charges, Timings, Limits
| Transaction Limits/Timing | 01:00 hours – 19:00 hours | 19:00 hours – 00:00 hours and 00:00 hours – 01:00 hours |
|---|---|---|
| Minimum | ₹ 2 lakh | ₹ 2 lakh |
| Maximum | ₹ 10 lakh or Rs 1 crore (based on customer segment) | ₹ 10 Lakh or 50 Lakh(based on customer segment) |
As per the RBI, the minimum RTGS limit to initiate a transaction is ₹2 Lakhs. There is no maximum RTGS limit or cap set by RBI, but banks can set their own RTGS limit.
Which is better, NEFT or RTGS or IMPS? ›
If you need to transfer a large sum of money urgently, RTGS would be the best option. If you want to transfer money quickly and don't need an immediate transfer, NEFT can be a good choice. If you want to transfer money instantly, including during holidays, IMPS is the way to go.
Which is chargeable RTGS or NEFT? ›Transaction charges for NEFT and RTGS initiated through online modes (i.e. Internet Banking, iMobile Pay, Pockets and InstaBIZ) are nil.
Which is cheaper NEFT or IMPS? ›The transaction fees for NEFT and IMPS are also different. NEFT and IMPS fees are set at the discretion of the bank. NEFT fees start at ₹1 for each transaction and can reach ₹ 25 per transaction. IMPS charges typically start at ₹ 5 per transaction and can reach ₹15 per transaction.
How much does RTGS transfer cost? ›Fees and Charges for RTGS Transactions:
In the case of online transfers, no charges are levied for RTGS transactions. In case the RTGS transaction is completed at a bank branch, a charge of Rs. 15 Plus GST is levied.