Difference between NEFT, RTGS and UPI ?

The main difference between NEFT, RTGS, and UPI-

 

RTGS ( Real Time Gross Settlement )-

  • Real-time funds transfer
  • Minimum ( Rs. 2 Lakhs ) / Maximum ( Rs. 10 Lakhs ) funds transfer limit
  • Funds transfer only bank working days
  • Funds transfer using Internet Banking or offline form filling on bank

 

NEFT (National Electronic Fund Transfer)-

  • Take a long time as compared RTGS to transfer funds ( use Deferred Net Settlement method )
  • Minimum ( No Minimum ) / Maximum ( Rs. 10 Lakhs ) funds transfer limit
  • Funds transfer only bank working days
  • Funds transfer using Internet Banking or offline form filling on bank

 

UPI ( Unified Payments Interface )-

  • Real-time funds transfer
  • Minimum ( No Minimum ) / Maximum ( Rs. 1 Lakhs ) funds transfer limit
  • Funds transfer any time
  • Funds transfer using the Mobile app  ( BHIM app )

 

Information source onlinesbi.com