RTGS/NEFT

RTGS/NEFT

What Is NEFT ?

NEFT is a payment system where instructions of payment between banks are processed and settled in batch mode. Funds can be transferred or received to/from any branch of any bank in India which is NEFT member. Payment is settled within two hours. By availing benefit of NEFT system one can manage the fund more efficiently and effectively. Presently there are 24 batches (Each batch runs after every half an hours). One can pay/received any amount by NEFT.

RTGS V/S NEFT SYSTEM
  • In NEFT customer can make payment of any amount. While in RTGS payment can be made only for Rs.2 Lac and above.
  • In NEFT payment instructions is being processed at fixed time interval. While in RTGS payment instruction is processed immediately.
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