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Understanding RTGS and NEFT

In Internet Banking the Two major Technical words start to confuse are NEFT and RTGS.
Its easy for you , if you understand both.
( Applicable to SBT , SBI , SBM , SBH , SBP , and all State Bank Branches , ICICI , HDFC , FEDERAL Bank , AXIS Bank , and all Available Banks In India  ).


What is NEFT in Internet Banking ?.

NEFT is National Electronic Fund Transfer .
Here RBI acts as the service provider and transfers the credit to the other bank's account


What is RTGS in Internet Banking ?.

RTGS is Real Time Gross Settlement.
RTGS is Providing fastest Banking Facility. Money transferred to other Account or other bank will be transferred at the time itself.
Banks acts as Channels. RBI will not interfere inbetween this. RTGS is considered to be  " Real time banking " / "Gross Settlement Banking" .

Condition : Minimum Transfer amount should be More than 2 lakhs.

Minimum and Maximum Amount restriction in RTGS vs NEFT (Personal Banking)

TypeMinimumMaximum
RTGSRs. 2 LakhsRs. 5 Lakhs
NEFT-Rs. 5 Lakhs



Minimum and Maximum Amount restriction in RTGS vs NEFT (Corporate Banking)

TypeMinimumMaximum
RTGSRs. 2 LakhsNo Limit
NEFT-No Limit



Transaction Working Timings (Hours) through Internet Banking

RTGS transactions will be sent to RBI based on the following schedule:
DayStart TimeEnd Time
Monday to Friday9:00 hrs16:00 hrs
Saturday9:00 hrs13:00 hrs

NEFT transactions will be sent to RBI based on the following schedule:

DayStart TimeEnd Time
Monday to Friday8:00 hrs18:30 hrs
Saturday8:00 hrs12:30 hrs


NEFT / RTGS  Transaction Failed ?.


If the NEFT / RTGS Transaction is failed, the amount will be directly credited back to the people who transferred the money. it may take few hours.

What is Fast NEFT or RTGS ?

Considereing the timing RTGS is fast. it will be transferred within few minutes.
NEFT may take upto few hours.



Service Charges for RTGS / NEFT.


RTGSTime of receipt of RTGS outward transaction instruction from customer at branchCharge per transaction (incl of Ser Tax)
FromToGreater than Rs. 2 lakhs and up to Rs. 5 lakhsAbove Rs 5 lakhs
All working days except SaturdaySaturday
109.00 hours11.30 hours11.30 hoursRs. 28/-Rs. 56/-
2After 11.30 hours15.00 hours13.00 hoursRs. 29/-Rs. 57/-
3After 15.00 hours16.00 hoursNARs. 34/-Rs. 62/-

NEFTAmountService Charge
Less than Rs.1 lakhRs.6/-
Rs.1 lakh to Rs.2 lakhsRs.17/-
Above Rs.2 lakhsRs.28/-


How NEFT Transaction Works ?.

Its is based on Settlement Process. Means when the amount is transferred from the source , the bank (for RTGS ) or RBI (for NEFT) will process it as queue.

For NEFT the money is processed by RBI Only.  They use Settlement Plan to release the fund from source to receiver bank






  • 11 settlements on weekdays - at 09:00, 10:00, 11:00, 12:00, 13:00, 14:00, 15:00, 16:00, 17:00, 18:00 and 19:00 hrs.
  • 4 settlements on Saturdays - at 09:00, 11:00, 12:00 and 13:00 hrs.


  • What is Better ? NEFT or RTGS ? .

    To answer this question , peoples should know the requirement before transfer.
    RTGS is Fast but it is used only for transactions above 2,00,000 Lakh Rupees .
    NEFT is used to transafer even smaller amount also.

    Banks Supported for NEFT and RTGS ?.
    You can transafer the money to almost all the indian banks now.

    Even there is no restriction on to which bank you are transferring money.
    Even Interbank / Same Bank branch transaction can also be done.

    Thats it.

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