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  • Differences Between NEFT, RGTS & Imps

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    Anand Shyam
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    NEFT, RTGS, and IMPS are three methods for funds transfer between bank accounts. NEFT allows transfers from Re 1 to 10 lacs on weekdays and Saturdays but processes transactions in batches, making it slower. RTGS allows higher value transfers from 2 lacs to 10 lacs on weekdays and Saturdays and processes transfers in real-time, making it fast but for higher minimum amounts. IMPS allows transfers of up to 5 lacs anytime, 24/7, and processes transfers in real-time, making it the fastest option for everyday mobile transfers.

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    Differences between NEFT/RTGS/IMPS

    Original Title

    NEFT/RTGS/IMPS

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    NEFT, RTGS, and IMPS are three methods for funds transfer between bank accounts. NEFT allows transfers from Re 1 to 10 lacs on weekdays and Saturdays but processes transactions in batches, making it slower. RTGS allows higher value transfers from 2 lacs to 10 lacs on weekdays and Saturdays and processes transfers in real-time, making it fast but for higher minimum amounts. IMPS allows transfers of up to 5 lacs anytime, 24/7, and processes transfers in real-time, making it the fastest option for everyday mobile transfers.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    6 views2 pages

    Differences Between NEFT, RGTS & Imps

    Uploaded by

    Anand Shyam
    NEFT, RTGS, and IMPS are three methods for funds transfer between bank accounts. NEFT allows transfers from Re 1 to 10 lacs on weekdays and Saturdays but processes transactions in batches, making it slower. RTGS allows higher value transfers from 2 lacs to 10 lacs on weekdays and Saturdays and processes transfers in real-time, making it fast but for higher minimum amounts. IMPS allows transfers of up to 5 lacs anytime, 24/7, and processes transfers in real-time, making it the fastest option for everyday mobile transfers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Differences between NEFT, RGTS

    & IMPS

    Parameter

    NEFT

    RTGS

    IMPS

    Full form

    National Electronic
    Fund Transfer

    Real -Time Gross


    Settlement

    Interbank Mobile
    Payment Service /
    Immediate Payment
    Service

    Minimum amount

    Re 1

    2 Lac

    NA

    Maximum amount

    10 Lac

    10 Lac

    5 Lac

    Weekday Timings

    8 AM 6:30 PM

    9 AM 4:30 PM

    24 X 7

    Saturday Timings

    8 AM 1 PM

    9 AM 1:30 PM

    24 x7

    Transaction speed

    Slow

    Fast

    Fast

    Transaction process

    Batches

    Real-time

    Real-time

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