NEFT Limits The Reserve Bank of India (RBI) does not enforce any upper limit on NEFT (National Electronic Funds Transfer) transactions, allowing transfers of any amount in principle. However, individual banks may impose their own daily or per -transaction limits depending on factors such as account type (retail, corporate, etc.), transfer mode (online banking, mobile banking, or branch transactions), and internal risk management policies. NEFT Charges While NEFT transactions are generally ... As per the guidelines mandated by the Reserve Bank of India (RBI), all NEFT transaction services are available online 24 hours a day , including bank holidays. However, in case you would like to initiate a NEFT transfer by visiting an ICICI bank branch in person, you need to inquire about the timings from the bank. The NEFT limit per day is designed to offer flexibility and convenience, irrespective of whether you are carrying out small payments or large transactions. The NEFT system serves both personal and business purposes with minimal fees and no maximum limit . The difference between NEFT and RTGS and IMPS lies mainly in transfer limits , settlement speed, and purpose of use. NEFT (National Electronic Funds Transfer) and RTGS (Real-Time Gross Settlement) are RBI-managed systems, while IMPS (Immediate Payment Service) is operated by NPCI. All three allow electronic fund transfers 24x7, but differ in speed, charges, and suitable use cases. Key Highlights: NEFT: Best for routine/scheduled payments. The minimum transfer amount via NEFT is Rs. 1, while ...
