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What is NEFT Transfer Limit?

The full-form of NEFT is National Electronics Funds Transfer. It is a 24*7 available services with pan-India coverage. There is no minimum limit on the money you can transfer using the RBI managed NEFT Payment System. However, a maximum limit on the amount that you can transfer may be applicable. RBI doesn’t pose any such limit but the individual banks may set a maximum limit. This is called ‘NEFT Limit’.

 

What are Some Popular Terms Related to NEFT Amount Limit?

There are three types of limits you are likely to come across when exploring the NEFT limit set by your bank-

1) NEFT Maximum Limit: The maximum transfer limit in NEFT refers to the maximum amount that can be transferred per transaction.

2) NEFT Minimum Limit: This is the minimum amount of money that can be transferred per transaction. Typically, there is no lower limit to the amount you can transfer via NEFT.

3) NEFT Limit Per Day: The NEFT transfer limit per day refers to the total amount of money you can transfer from one account to another via this mechanism on a single day. It is also referred to as the NEFT maximum limit per day.

What is the NEFT Transfer Limit for Popular Banks?

The NEFT minimum and maximum limits for some of the top banks are mentioned below:

1) HDFC Bank NEFT Transaction Limit

7:00 AM to 7:00 PM
on RBI working day

Maximum NEFT transfer limit per day via online channels:

As per your set Third-Party Funds Transfer limit (maximum up to ₹50 lakh)

7:00 PM to 7:00 AM

on bank working days and holidays (including 2nd and 4th Saturdays)

NEFT fund transfer limit per day via online channels:

As per your set Third-Party Funds Transfer limit

(₹2 lakh per transaction; maximum up to ₹50 lakh)

Branch working hours

NEFT fund transfer limit offline at branches:

No NEFT upper limit

 

There is no minimum limit on NEFT transfers.

2) Axis Bank NEFT Daily Limit

8:00 AM to 4.30 PM

As per your set Third-Party Funds Transfer limit

4.30 PM to 6.30 PM

Less than ₹5 crore

6.30 PM to 8:00 AM

(including 2nd and 4th Saturdays and bank holidays)

Up to ₹1 crore

 

There is no minimum limit on NEFT transfers. Under the Indo-Nepal Remittance Facility Scheme, for cash-based remittances within India and to Nepal, the NEFT cash transfer limit is ₹50,000 per transaction.

3) State Bank of India NEFT Limit

NEFT minimum and maximum limits for retail banking:

NEFT Minimum Limit

No minimum NEFT payment limit

Maximum NEFT Limit

₹10 lakh

 

NEFT money transfer limit for corporate internet banking:

NEFT Minimum Limit

 

No minimum NEFT payment limit

Maximum NEFT Limit Per Transaction

Saral

₹10 lakh

Vyapaar

₹50 lakh

Vistaar

₹2,000 crore

NEFT Max Limit Per Day

Saral

₹10 lakh

Vyapaar

No maximum NEFT limit

Vistaar

 

No maximum NEFT limit

 

4) Citibank NEFT Limit

8:00 AM to 7:00 PM

(Monday to Friday and working Saturdays)

Maximum NEFT transfer limit per day via Citibank online:

Citigold Private Client and Citigold customers: Up to ₹70 lakh

Others: Up to ₹ 25 lakh

8:00 AM to 7:00 PM

(Monday to Friday and working Saturdays)

NEFT fund transfer limit per day via mobile banking:

Citigold Private Client and Citigold customers: Up to ₹25 lakh

Others: Up to ₹15 lakh

7:00 PM to 8:00 AM on the next working day

 

Combined limit for NEFT and RTGS: ₹3 lakh

Sundays and Bank Holidays

Combined limit for NEFT and RTGS: ₹3 lakh

 

5) RBL Bank NEFT Transfer Limit

NEFT Transfer via RBL Bank Branch

No maximum NEFT payment limit

NEFT Transfer via Mobile/Internet Banking

NEFT max limit up to ₹6 lakh

 

There is no minimum limit for NEFT transfers.

As the NEFT limit varies from bank to bank, it is best to check with your banking partner about the terms and conditions of NEFT transfer to ensure transparency before initiating a transfer.

Apart from NEFT you can also use IMPS or RTGS to transfer money from one account to another. The RTGS transfer limit and RTGS fees and charges will however be different from that of NEFT. So will be the IMPS transfer limit and IMPS fees and charges. You can check out the difference between IMPS vs NEFT vs RTGS and select the mode that suits you best!

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Frequently Asked Questions

✔️Is there a limit on NEFT transfers?

The Reserve Bank of India (RBI) imposes no limit on the fund transfer amount via NEFT. However, your banking partner may impose an upper cap based on their risk perception. However, there is no minimum limit for NEFT transfers.

✔️How many NEFT transactions can be done in a day?

NEFT transactions can be carried out as long as you do not exhaust the NEFT transfer limit for the particular day as set down by your bank.

✔️What is the maximum limit of NEFT transfer?

There is no limit on the maximum amount of money you can transfer via NEFT, as per the Reserve Bank of India. However, the individual banks may in some cases impose a NEFT maximum limit based on the risk perception.