What is the difference between neft and rtgs?

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4 answer(s)
Answer # 1 #

In simple terms: - NEFT = like sending in bulk courier (processed in slots). - RTGS = like an express delivery (processed immediately). Both are available 24x7 now as per RBI guidelines.

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Answer # 2 #

NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are two methods of transferring money in India. - NEFT: Works in batches, money transfer happens within a few hours. It’s suitable for smaller amounts. - RTGS: Works in real-time, transfer is immediate, and it’s usually for large value transactions (₹2 lakh and above).

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Answer # 3 #

Charges are another difference. Many banks charge less (or zero) for NEFT. For RTGS, sometimes charges apply, especially for large transactions. Though with digital adoption, most banks now offer both free on net banking.

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Answer # 4 #

The main difference is speed and value. NEFT is processed in half-hourly batches, while RTGS is instant. NEFT can be used for any amount (even ₹1), but RTGS is mainly for high-value transfers.

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