NEFT/RTGS transactions Limit and Charges

NEFT/RTGS transactions Limit and Charges

Here, we break down the service charges, transaction limits, and essential guidelines for NEFT transactions across the counter and via eBanking and mBanking channels.

NEFT Service Charges for Counter Transactions

For NEFT transactions initiated across the bank counter, the following service charges are applicable:

• Transactions up to ₹10,000: ₹2.50 + Applicable GST
• Transactions above ₹10,000 and up to ₹1 lakh: ₹5 + Applicable GST
• Transactions above ₹1 lakh and up to ₹2 lakhs: ₹15 + Applicable GST
• Transactions above ₹2 lakhs: ₹25 + Applicable GST

These charges are in line with the guidelines set by the banking authority. However, it is important to note that no charges are levied for outward NEFT transactions initiated through eBanking and mBanking channels.

Download SB Order 08/2022

NEFT Remittance Limits

The minimum and maximum amount per transaction for NEFT remittance across the counter are ₹1 and ₹15,00,000 respectively. For transactions initiated via eBanking and mBanking channels, the following limits apply:

• Maximum limit per transaction: ₹2,00,000
• Daily transaction limit: ₹10,00,000
• Maximum transactions allowed per day: 5

Time-Variable Transaction Capping for Fraud Mitigation

To mitigate fraud risks, there is a time-variable transaction capping for NEFT transactions initiated via eBanking and mBanking services:

• From 8 PM to 8 AM: The maximum transaction limit for outward NEFT is capped at ₹2,00,000.

NEFT/RTGS Transaction Limits Across Counters

The limits for NEFT and RTGS (Real-Time Gross Settlement) transactions across the counter have been standardized as per recent guidelines:

• In Home SOL (Service Outlet Location): The minimum and maximum limits for NEFT/RTGS transactions through the counter are the same as those for eBanking and mBanking, as per SB Order 8/2022 dated 18.05.2022.
• In Other than Home SOL: The minimum limit for NEFT and RTGS transactions is the same as that for eBanking and mBanking. However, the maximum limit is capped at ₹50,000 for NEFT and ₹2,00,000 for RTGS transactions through counters.

Download :

1. NEFT RTGS for POSB  Account holders
2. Annexure I – SOP for NEFT Nodal Office
3. Annexure II – India Post end users to understand the process of NEFT
4. Annexure III – SOP for NEFT  facility to POSB customers