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:
This refers to the maximum amount that you can transfer per transaction.
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.
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:
7:00 AM to 7:00 PM |
Maximum NEFT limit per day via online channels: As per your set Third-Party Funds Transfer limit (maximum up to ₹50 Lakhs) |
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 Lakhs) |
Branch working hours |
NEFT fund transfer limit offline at branches: No NEFT upper limit |
There is no minimum limit on NEFT transfers.
7:00 AM to 7.30 PM |
No limit (on working days) |
9:30 PM |
No limit (on working days) through CMS online channel |
After 7:00 PM till 7:00 AM |
Up to ₹1 Crore (on working days) through mobile banking/RIB/CMS |
7:00 AM to 7:00 PM (on working days) through mobile banking/RIB/CMS |
Up to ₹1 Crore per transaction |
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.
NEFT minimum and maximum limits for retail banking:
NEFT Minimum Limit |
No minimum NEFT payment limit |
Maximum NEFT Limit |
₹10 Lakhs |
NEFT money transfer limit for corporate internet banking:
NEFT Minimum Limit |
|
No minimum NEFT payment limit |
Maximum NEFT Limit Per Transaction |
Saral |
₹10 Lakhs |
Vyapaar |
₹50 Lakhs |
|
Vistaar |
₹2,000 Crores |
|
NEFT Max Limit Per Day |
Saral |
₹10 Lakhs |
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 limit per day via Citibank online: For Citigold Private Clients and Citigold customers: Up to ₹75 Lakhs For Others: Up to ₹ 25 Lakhs |
8:00 AM to 7:00 PM (Monday to Friday and working Saturdays) |
NEFT fund transfer limit per day via mobile banking: For Citigold Private Clients and Citigold customers: Up to ₹25 Lakhs For Others: Up to ₹15 Lakhs |
7:00 PM to 8:00 AM on the next working day
|
Combined limit for NEFT and RTGS: ₹3 Lakhs |
Sundays and Bank Holidays |
Combined limit for NEFT and RTGS: ₹3 Lakhs |
NEFT Transfer via RBL Bank Branch |
No maximum NEFT payment limit |
NEFT Transfer via Mobile/Internet Banking |
NEFT max limit up to ₹6 Lakhs |
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!
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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.
The NEFT limit per day varies across banks. Moreover, the limit is on the cumulative value of your transactions and not on the number. So, you can make as many transfers as you want as long as you do not exhaust the daily transaction value limit.
There is no limit on the maximum amount of money you can transfer via NEFT, as per the Reserve Bank of India. However, individual banks may, in some cases, impose a maximum limit based on their risk perception.
There are no charges on inward NEFT transactions. Moreover, RBI has advised banks not to levy any charges to savings account holders for online NEFT transactions. Additionally, there is a cap on charges that originating banks can levy.
This depends on the transaction value and can go up to only ₹25 + GST.