A centralised payment system with pan-India coverage and nearly round-the-clock availability, NEFT (National Electronic Funds Transfer) is a popular money transfer mechanism. There is no lower limit on the money you can transfer using the Reserve Bank of India-managed NEFT payment system; however, there could be a limit on the maximum amount you can transfer using this method. While RBI imposes no such limit, individual banks may set a limit on the maximum amount that can be transferred via NEFT. This is known as the NEFT 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.
The NEFT minimum and maximum limits for some of the top banks are mentioned below:
7:00 AM to 7:00 PM |
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.
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.
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 |
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 |
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!
More About Payments & Other Credit Cards |
||||
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.
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.
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.