Difference between NEFT and RTGS

 

NEFT	RTGS
1)      Settlement is on Batch basis.	1)      Settlement is on Real Time basis.
2)      No Minimum Limit.	2)    Minimum Limit- Rs 2 Lakh.
3)    Operating Hours^.                (Mon-Fri) Weekdays (Batch)                 12 Settlements- 8 AM to 6:30PM.                Saturday                6 Settlements- 8AM to 12:30 PM.	3)    Operating Hours^.                (Mon-Fri) Weekdays (Real Time)                9 AM to 4:30 PM.                Saturday                9 AM to 1:30 PM.
4)    Processing Charge*.  Inward Transaction at Destination Bank Branch- Free. Outward Transaction at Originating Bank Branch- upto Rs 10,000- Rs 2.50(+ST) Rs 10,000 to Rs 1 Lakh- Rs 5(+ST) Rs 1 Lakh  to Rs 2 Lakh- Rs 15(+ST) Above Rs 2 Lakh - Rs 25(+ST)	4)     Processing Charge*. Inward Transaction at Destination Bank Branch- Free. Outward Transaction at Originating Bank Branch- Rs 2 Lakh to Rs 5 Lakh- Rs 30 Above Rs 5 Lakh- Rs 55

^RBI timing is provided. It is subject to change. It may vary practically from Bank to Bank.

*Vary for different banks, provided to give an idea of the system and the slab.