NEFT Limit

National Electronic Funds Transfer (NEFT) is a 24x7 service that allows you to seamlessly transfer funds from one bank account to another. Available throughout, the RBI has set the minimum NEFT limit as ₹1 with no upper limit.

 

However, while the RBI has not imposed any maximum NEFT limit, banks have the discretion to set limits as per their policies and approval. Generally, banks set a maximum limit on the amount you can transfer in one transaction or throughout the day. 

To know the NEFT limit of your bank, ask a representative, either by visiting the branch or by contacting customer care. You can also check the limit on the official website of the bank.

 

To know more about NEFT and the limit by some top banks, read on.

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

This refers to the maximum amount that you can transfer per transaction.

2. NEFT Minimum Limit

This is the minimum amount of money that you can transfer per transaction. Typically, there is no lower limit, and you can transfer as low as ₹1. However, this depends on the bank with which you initiate the transaction.

3. NEFT Limit Per Day

The NEFT transfer limit per day refers to the maximum amount you can transfer in one day. It is also referred to as the NEFT maximum limit per day.

The Reserve Bank of India (RBI) has set no maximum limit on NEFT transactions, and the minimum amount can go as low as ₹1. However, banks have the discretion to change and set the limit as per their policies and with the approval of their board.

 

Given below is an overview of the minimum and maximum NEFT limits for some of the top banks:

1. HDFC Bank NEFT Transaction Limit

There is no minimum limit on NEFT transfers.

2. Axis Bank NEFT Daily Limit

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. Also, intra-bank transfers have no limit on amount and time.

3. State Bank of India NEFT Limit

NEFT minimum and maximum limits for retail banking:

NEFT money transfer limit for corporate internet banking:

4. Citibank NEFT Limit

5. RBL Bank NEFT Transfer Limit

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. However, the transfer limit and fees and charges for both modes will be different from that of NEFT. You can check out the difference between IMPS vs NEFT vs RTGS and select the mode that suits you best!