Can some body explain about NEFT and RTGS

I want to know when to use NEFT and when to use RTGS,

If both serves same purpose which is best?

Replies

  • csiscool
    csiscool
    We were in dilema while we wanted to use the online banking..
  • tusharw15
    tusharw15
    NEFT is used for xfers less than 1 Lakh and there is no transaction charges.
    If you wish to xfer amount which is more than 1 lakh then you need to use RTGS. The payment goes for through the RBI scanner and there are some charges for using RTGS.
    Hope I have answered your query.

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