Difference between NEFT Vs RTGS

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Difference Between NEFT Vs RTGS
Transaction is became a important part of everyones life many of you hear the word NEFT and RTGS these are two words. If you confuse in these words and also in choosing what method should choose to make transaction, then this article is going to be really useful for you. 
NEFT (National Electronic Funds Transfer)
One-On-One transaction bases is used in NEFT transaction to the recieptents recipient’s account. One of the best thing of this method it doesn’t have any minimum or maximum transaction limit in a day, that means you can transfer any amount you want to transfer to the recipient.

Timing of NEFT Transaction
One of the most important thing of this technology you should know about it that transfer of amount success in 12 batches of time. 

1.     8:00 am to 6:30 pm on weekday.

2.     For Sunday their is 6 batches between 8:00 am to 1:00 pm.
Most important thing of NEFT everyone should know before making transactions that is NEFT is not available on Sunday only available in weekdays.
3.     If the transaction is initiate after the specified hours for that day, it will be proceed to next working day.
Transaction limit
Their is no any maximum or minimum transaction limit in NEFT. whereas, per transaction limit is set to 50,000. By using NEFT you can transfer money from one bank to another bank throughout India.

RTGS (Real Time Gross Settlement)
Person who is using RTGS to transfer large amount that it can be a good method that person choosing. As this name states that the speed of fund transfer is very is as it transfer amount in real time.

Timing of RTGS
Timing of RTGS can be reffer from different banks or branches that’s why standard time is listed below.
1.     7:00a.m. to 6:00p.m. for customer transactions.
2.     7:00 a.m. to 7:45 p.m. for inter-bank transactions

Transaction limits
Minimum limit to transfer amount by using RTGS is limiyed to 2 lakh and maximum amount limit is not limited transfer as such you want.
To get RTGS enabled account you can check elegibility either on online banking portal or contact your bank. If you are using RTGS to transfer fund make sure that you and reccipient’s both have RTGS enabled account. If any one of you have not RTGS enabled account then you cannot enjoy the benefits of RTGS technology.


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Hi Guys, I am Hanit Vashisht founder of Legal Gyan and Real Blogger Web. Advocate in Delhi Saket Court. You may join me on Instagram

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