Difference between NEFT and RTGS

 


NEFT
RTGS
             1)      Settlement is on Batch basis.
             1)      Settlement is on Real Time basis.
             2)      No Minimum Limit.
 2)    Minimum Limit- Rs 2 Lakh.
       3)    Operating Hours^.
               (Mon-Fri) Weekdays (Batch)
                12 Settlements- 8 AM to 6:30PM.
               Saturday
               6 Settlements- 8AM to 12:30 PM.
       3)    Operating Hours^.
               (Mon-Fri) Weekdays (Real Time)
               9 AM to 4:30 PM.
               Saturday
               9 AM to 1:30 PM.
       4)    Processing Charge*.
 Inward Transaction at Destination Bank Branch- Free.
Outward Transaction at Originating Bank Branch- upto Rs 10,000- Rs 2.50(+ST)
Rs 10,000 to Rs 1 Lakh- Rs 5(+ST)
Rs 1 Lakh  to Rs 2 Lakh- Rs 15(+ST)
Above Rs 2 Lakh - Rs 25(+ST)
       4)     Processing Charge*.
Inward Transaction at Destination Bank Branch- Free.
Outward Transaction at Originating Bank Branch-
Rs 2 Lakh to Rs 5 Lakh- Rs 30
Above Rs 5 Lakh- Rs 55
^RBI timing is provided. It is subject to change. It may vary practically from Bank to Bank.
*Vary for different banks, provided to give an idea of the system and the slab.

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