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Thread: Difference Between RTGS And NEFT

  1. #1

    Difference Between RTGS And NEFT

    How RTGS is different from NEFT? I want a clear definition on it, plz somebody help me in suggesting good points to remember their meaning forever…



  2. #2
    Senior Member
    Join Date
    Aug 2012
    Posts
    117
    Well, both related to transferring money from one place to another in different forms like :-

    RTGS - Real Time Gross Settlement; is a money transfer system where capital is moved from one bank to another in “real time”, Real time means there is no waiting period at all; once processing take place the payment transaction will be done right away. RTGS is considered to be the fastest way for money transfer.

    NEFT- National Electronic Funds Transfer is an online system for transferring money from one financial institution to another. As it is based on electronic service, NEFT is comparatively slower than RTGS.

  3. #3
    I dont much about the RTGS And NEFT, I have taken a help of a friend of mine had they told me this,

    RTGS is Real time Gross settlement for INr>1 lac .NEFT (National Electronic Fund transfer) is d same but for INR below 1 lakh . Check get cleared same day .It is chargeable in most of the banks ,Online RTGS is however free service .

    I know this information does not have the full details, i will surely come back to give you lot more details then this.



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