NEFT (National Electronic Fund Transfer)

NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement basis. Transactions are processed in batches at regular intervals rather than in real time. This facility is available at the bank.

Benefits of NEFT
01
Convenience
Convenient fund transfers from home or office
02
Routine
Suitable for routine and low-value transactions
03
Speed
Faster and safer than demand drafts, cheques, or letters
04
Reliability
Simple and reliable electronic payment method
RTGS (Real Time Gross Settlement)

Real Time Gross Settlement (RTGS) is a system that enables the transfer of funds in real time. Transactions are processed individually and settled immediately on an instruction-by-instruction basis.

Benefits of RTGS
01
Interbank
Fast and secure interbank money transfer system in India
02
Instant
Transactions are settled instantly without waiting for batch processing
03
Efficient
Improves efficiency of clearing and settlement processes
04
Urgent
Ideal for high-value and urgent payments