Querry

Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) alows individuals, companies and firms to transfer funds from one bank to another.

There is no limit of min or max that can be transfered through NEFT, you can transfer even Rs1, but in RTGS there is specified min amount ( 2 lakhs) that we can transfer.

In case of charges for outward transfer, under RTGS we have to pay Rs 25 for 2-5 lakhs and Rs 50 for anything more than 5 lakhs, under NEFT Rs 5 for upto 1 lakh, Rs 15 for 1-2 lakhs and Rs 25 for above 2 lakhs.

In RTGS transactions are processed continuously all through the business hours, hence transactions are quick and helpful in emergencies but NEFT operates on deffered net settelment basis and settles transcations in batches. The settlement takes place with all transaction recieved till a paticular cut-off time. It operates in hourly batches , any transaction initiated after the designated time would have to wait  till the next settlement time