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NEFT RTGS IMPS Comparison

Hdfc Bank Neft Rtgs Imps
Type of TransferNEFTIMPSRTGS

Speed of settlement

Half hourly

Real-Time

Real-Time

Maximum Transfer Value

No Limit

Rs. 2 lakhs

Rs. 25 lakhs

Minimum Transfer Value

No Limit

No Limit

Rs. 2 lakhs

Charges

No Charges for online transfers

No Charges for online transfers

No Charges for online transfers

Timing

Monday to Friday & Working Saturday

7 AM to 7 PM on bank working days

24x7, 365 Days

Monday to Friday & Working Saturday

7 AM to 5 PM on bank working days

HDFC Bank NEFT Details

HDFC Bank offers different electronic methods of fund transfer via its internet banking and mobile banking. One among these is NEFT services that can be used for easy fund transfer. If a customer wants to transfer funds through HDFC NEFT, he/she must have all the required bank details, including the IFSC code of the beneficiary’s Bank. There is no minimum limit and maximum amount of funds that can be transferred through HDFC Bank NEFT. For in-person cash-based remittances across India, the maximum limit set by HDFC Bank is Rs. 50,000.

What are HDFC Bank NEFT Charges?

There are no charges for receiving funds through NEFT at HDFC Bank. However, a customer initiating a transaction will have to bear certain fees depending on the transaction type and amount. The NEFT fund transfer facility is also available for NRE/ NRO accounts in the country.

Transaction TypeNEFT Charges

Mobile and Internet Banking

Nil

Bank Branch

Up to Rs. 1,00,000 – Rs. 2 + GST 

Above Rs. 1,00,000 – Rs. 10 + GST

What are the details required for HDFC NEFT Transactions?

To transfer funds through HDFC Bank’s NEFT services, a customer will need the below-mentioned details:

  • Name of the beneficiary
  • Amount to be transferred
  • Customer’s account number
  • Beneficiary’s Bank 
  • IFSC code
  • Account number of self

What are HDFC NEFT Timings?

Customers can transfer funds through HDFC NEFT using mobile/internet banking or by visiting the nearest bank branch. Here are the timings for HDFC NEFT transactions:

Banking DaysNEFT Timings

Monday to Friday & Working Saturday

7 AM to 7 PM on bank working days

What are HDFC NEFT Limits?

As per RBI guidelines, there is no limit on the minimum and maximum amount for fund transfer through HDFC NEFT. However, Customers can transfer up to Rs. 25 Lakhs on HDFC NEFT through HDFC Internet Banking. For remittances beyond this amount, customers must visit the nearest bank branch to process NEFT transactions.

What are the Benefits of Using HDFC NEFT?

HDFC NEFT services offer the following features and benefits to customers:

  • NEFT Limit: There is no minimum amount for fund transfer under NEFT at HDFC Bank.
  • Transfer Modes: Customers can transfer funds through NEFT using offline and online modes. For offline fund transfer, customers need to visit the bank branch. Customers can also transfer funds using net banking.
  • Less risk: All NEFT transactions in India are regulated by the RBI and are therefore highly reliable channels of fund transfer.
  • Efficient process: NEFT is a very easy and convenient process for the transfer of funds.
  • Cost-effective: The fees related to HDFC NEFT are very low and hence is one of the widely used fund transfer mechanisms in the country.

HDFC Bank RTGS Details

HDFC Bank RTGS or Real Time Gross Settlement is a mechanism that allows the transfer of funds on a real-time or gross basis. The term 'Real-time' means that funds get transferred instantly and there is no delay in the processing. The gross settlement means that the funds get transferred on a one-to-one basis. To transfer funds through HDFC RTGS, customers need the following details of the recipients.

  • The amount to be transferred
  • Account number
  • Recipient’s bank 
  • Recipient’s IFSC code 

How to Use HDFC RTGS Facility?

Customers who want to transfer funds through the HDFC RTGS facility offline can visit the HDFC Bank branch or can transfer funds online using HDFC net banking facility.

How to Fill HDFC RTGS Form for Offline Fund Transfer?

To fill HDFC RTGS form & execute offline funds transfer, customers need to follow the below-mentioned steps:

  • Customer must visit the nearest HDFC Bank branch and request for RTGS form 
  • The next step is to fill in all the required details including date, the amount for fund transfer, etc
  • The customer then has to add account details, details of the cheque such as the serial number of the cheque, IFSC code of the beneficiary.
  • The customer must then sign the form to authorize the fund transfer. 
  • HDFC bank officials will then process the fund transfer basis the details furnished by the customer.

How to Transfer Funds Using HDFC RTGS Net banking?

To transfer money through HDFC RTGS net banking, customers need to follow the below-mentioned steps:

  • Log in to HDFC Net Banking Portal by using the correct User Name and Password.
  • Under the "Payments/Transfer" section, select the appropriate fund transfer option.
  • Choose the type of transaction and then click on "Proceed".
  • Select the account from which the funds have to be transferred.
  • Enter the amount, reason for transfer and also select the beneficiary account for transferring the money.
  • Make sure to verify all the details and then accept the terms and conditions listed.
  • Verify all the details and click on "Confirm".
  • Enter the net banking password and OTP sent to the registered mobile number and click on "Confirm".
  • The user will then receive a confirmation message and the transaction will be executed.

What are HDFC RTGS Fees?

HDFC Bank has the following charges for fund transfer through RTGS.

Net Banking

Nil

Bank Branch

Rs. 15 + Applicable GST

What are HDFC RTGS Timings?

For customers who want fund transfer transactions to be processed immediately, it is best to use HDFC RTGS within the time frame as stated below:

Mobile & Internet Banking

7 AM to 5 PM (Monday to Saturday, except 2nd & 4th Saturday and bank holidays

Bank Branch

As per branch working hours

What is the HDFC RTGS Limit?

HDFC RTGS system is mainly meant for high-value transactions. The limit for HDFC RTGS fund transfer is as stated below:

Minimum Amount

Rs. 2 Lakhs

Maximum Amount

Rs. 25 Lakhs

HDFC Bank IMPS Details

HDFC Bank Immediate Payment Service or IMPS is a real-time fund transfer mechanism that initiates and executes the transfer of funds from HDFC bank to another bank. This facility is available for use through mobile banking, net banking and also bank ATM. Those who want to transfer money through HDFC IMPS need to have the recipient's account number and IFSC or Aadhaar number. Customers can also make payments through IMPS using a Mobile Money Identification Number (MMID) and mobile number.

What are HDFC IMPS Charges?

If a fund transfer is done through HDFC IMPS, the beneficiary does not have to pay any transfer fees for receiving money through IMPS. However, the remitter will have to bear the charges as stated below:

Transaction TypeIMPS Charges

Mobile and Internet Banking

Nil

Bank Branch

Up to Rs. 1 Lakh – Rs. 5+ GST 

Rs. 1 Lakh – Rs. 2 Lakhs – Rs. 15+ GST

How to Register for HDFC IMPS?

To send or receive funds through HDFC IMPS, one needs to have a mobile banking/net banking account. Here is the registration process for HDFC IMPS:

  • Customers can apply for the registration while opening an HDFC account. They will then receive a unique 7-digit MMID.
  • Customers can also generate MMID through the mobile application, SMS or by calling HDFC customer care.
  • After successfully registering for mobile banking and receiving an MMID, one can download the mobile application or use the net banking account for fund transfer.

How to Transfer Money Using HDFC IMPS with IFSC?

To transfer funds using HDFC IMPS with the help of IFSC code, here are the steps to be followed:

  • Go to the HDFC portal and use the correct user name and password to log in.
  • Click on Payments Transfer and select 'Fund Transfer' before choosing the 'IMPS Funds Transfer' option.
  • Select the 'Person to Account' option and proceed.
  • Add beneficiary details like name, account number, IFSC code, etc.
  • Enter the amount to be transferred and click on Submit.
  • Before confirming the transaction, make sure to verify all the details.
  • In the end, use the mobile-based OTP authentication to approve and execute the transaction.

How to Transfer Funds Using HDFC IMPS with MMID?

To transfer money using HDFC IMPS with MMID, follow the below-mentioned steps:

  • Go to the HDFC portal and use the correct user name and password.
  • Click on Payments Transfer and select 'Fund Transfer' before going to 'IMPS Funds Transfer'.
  • Select the 'Person to Person' option and click on Proceed.
  • Enter the MMID and mobile number.
  • Provide the amount to be transferred and click on the Submit button.
  • Before confirming the transaction, make sure to verify all the details.
  • Enter the mobile-based OTP to authenticate and approve the transaction.

What are HDFC IMPS Transfer Limits?

Customers can transfer up to Rs. 2 lakhs using HDFC IMPS while using HDFC Internet Banking. To transfer funds through HDFC IMPS offline, customers have to visit the bank branch. In this case, charges will be imposed as per IMPS norms of the bank.

As per the RBI guidelines, customers can transfer up to Rs. 2 Lakhs using the HDFC IMPS fund transfer system online.

What are HDFC IMPS Timings

Unlike other modes of money transfers, customers can transfer funds 24*7 using the HDFC IMPS facility. It is available for both Inward and Outward transactions.

About HDFC Bank

HDFC Bank is one of India's leading private sector banks and was among the first ones to receive approval from the Reserve Bank of India (RBI) for establishing banking operations in the country. HDFC Bank provides a wide range of banking services to both retail as well as corporate customers. It is preferred by customers because of its seamless fund transfer services including NEFT, RTGS, and IMPS mechanisms. Customers who are not comfortable initiating these transactions online can also visit the bank branch to submit offline request forms.

FAQs

1. Does HDFC charges for NEFT transfer?

HDFC NEFT transactions are free of cost if executed through net banking or mobile banking. However, the following charges apply in case the NEFT transfer is executed offline through a bank branch:

  • Up to Rs. 1,00,000 – Rs. 2 + GST
  • Above Rs. 1,00,000 – Rs. 10 + GST

2. What is the NEFT limit per day at HDFC Bank?

HDFC Bank permits NEFT transactions of a maximum of Rs. 25 lakhs to be done through net banking and mobile banking. However, if customers want to transfer funds beyond this amount, they can visit the nearest bank branch to do so.

3. Which is cheaper IMPS or NEFT at HDFC Bank?

Both IMPS and NEFT do not attract any charges at HDFC bank if done online through net banking or mobile banking. However, in both cases, users have to pay certain charges if done through a bank branch. In offline mode, IMPS can be slightly expensive as compared to NEFT.

4. How many IMPS HDFC Bank per day?

Customers can use IMPS for fund transfer through HDFC bank and there is no maximum limit for these.

5. What is the time limit for IMPS at HDFC Bank?

The IMPS fund transfer facility is available 24/7 for HDFC Bank customers.

6. Is NEFT working 24 * 7?

NEFT at HDFC Bank is available as per the below timelines: Monday to Friday & Working Saturday - 7 AM to 7 PM on bank working days

7. Is IMPS transfer safe?

Since IMPS is governed by RBI, this fund transfer mechanism is considered safe and secure.

8. How many IMPS can be done in a day?

Customers can transfer up to Rs. 2 lakhs using the HDFC IMPS facility via net banking.

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