NEFT (National Electronic Fund Transfer):

• Meaning : NEFT is a payment system that enables electronic transfer of funds from one bank to another bank account. Money transfer can be made by an individual or company to an individual or company’s bank account with any bank that is a member of the NEFT scheme, according to the Reserve Bank of India (RBI).
• Timings : NEFT are processed in twelve batches between 8 a.m. to 7 p.m. on weekdays and six batches between 8 a.m. to 1 p.m. on Saturdays. NEFT is not available on Sundays and bank holidays.
• Minimum amount : No limit.
• Maximum amount : Rs.10 lakhs
• Charges applicable for the remitter or sender :

For transactions up to ₹ 10,000 – ₹ 2.50 (plus GST applicable)

For transactions above ₹ 10,000 up to ₹ 1 lakh – ₹ 5 (plus GST applicable)

For transactions above ₹ 1 lakh and up to ₹ 2 lakh – ₹ 15 (plus GST applicable)

For transactions above ₹ 2 lakh – ₹ 25 (plus GST applicable)

RTGS (Real Time Gross Settlement) :

• Meaning : The term real-time gross settlement (RTGS) refers to a funds transfer system that allows for the instantaneous transfer of money and/or securities. Once completed, real-time gross settlement payments are final and irrevocable. In most countries, the systems are managed and run by their central banks.
• Timings : RTGS services from 9.00 to 4.30 on weekdays and from 9.00 to 2:00 on Saturdays for settlement at the RBI end. 
• Minimum amount : Rs. 2 Lakhs
• Maximum amount: No limit.
• Charges applicable for the remitter or sender :

Inward transactions (credit to beneficiary accounts) – Free, no charge to be levied.

Outward transactions at originating bank branches –

2 lakh to 5 lakh – ₹ 30 per transaction

Above 5 lakh – ₹ 55.00 per transaction

IMPS ((Immediate Payment Service) :

IMPS is another real-time payment service, but the distinguishing factor is that IMPS is available ²⁴⁄₇ and you can avail the service even on bank holidays.

• Timings : The transfer process can be initiated between 7 a.m. to 6 p.m. and 7 a.m. to 7:45 p.m. for inter-bank transfers.
• Minimum amount : No prescribed limit.
• Maximum amount : Rs. 2 lakhs
• Charges applicable for the remitter or sender :

Up to Rs. 10,000	Rs. 2.50 + Applicable GST
From Rs. 10,000 to Rs. 1 lakh	Rs. 5 + Applicable GST
From Rs. 1 lakh to Rs. 2 lakh	Rs. 15 + Applicable GST
Rs. 2 lakh and Above	Rs. 25 + Applicable GST or no Charge