HDFC Bank NEFT, RTGS, IMPS – Charges and Timings

HDFC Bank is one of India’s leading private banks and it was the first bank to get RBI’s approval to establish banking operations in the country. HDFC offers a variety of banking services to both retail as well as corporate customers. With the help of the latest digital payment systems like NEFT, RTGS, and IMPS, money can be instantly received and sent to any part of the world and at any time. Let us first know the difference between the three:

Difference between HDFC NEFT, RTGS and IMPS

Type of Transfer NEFT IMPS RTGS
Speed of settlement Half hourly Real-Time Real-Time
Maximum Transfer Value No Limit INR 2 lakhs INR 25 lakhs
Minimum Transfer Value No Limit No Limit INR 2 lakhs
Charges No Charges for online transfers No Charges for online transfers No Charges for online transfers
Timing Monday to Friday and working Saturday

7 AM to 7 PM on bank working days

24×7, 365 Days Monday to Friday and working Saturday

7 AM to 5 PM on bank working days

  • HDFC NEFT:

National Electronic Fund Transfer (NEFT) is an inter-bank/ inter-branch online fund transfer within India. It is an online mode of funds transfer introduced by RBI that assists in the quick transfer of money between banks throughout India. A bank’s branch must be NEFT-enabled for a customer to transfer funds. One must have all the required bank details including the IFSC Code of the Beneficiary’s Bank. There are no limits on funds that can be transferred. 

Details Required:

A customer requires below mentioned details to transfer funds via NEFT:

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

NEFT Timings:

Customers are required to visit the bank during below mentioned hours to transfer funds via NEFT:

Banking Days NEFT Timings
Monday to Friday and working Saturday 7 AM to 7 PM on bank working days

NEFT Limit:

There is no limit on minimum and maximum amounts for funds transfer via HDFC NEFT. However, with Internet Banking, customers can transfer up to INR 25 lakhs. For funds transfers above this amount, customers are required to visit the branch.

Benefits of HDFC NEFT

Below mentioned are the features and benefits of HDFC NEFT:

  • There is no minimum amount for funds transfer.
  • Customers can use either offline modes i.e. by visiting a branch or online modes i.e. internet banking. 
  • The NEFT transactions are regulated by the RBI and hence highly reliable.
  • It is a very easy and convenient process of funds transfer.
  • The fees are relatively very low in the case of NEFT, hence this method is one of the widely used funds transfer mechanisms in the country. 
  1. ii) HDFC RTGS:

Real Time Gross Settlement is a method that allows users to transfer funds on a real-time or gross basis. It means that the funds get transferred instantly without any delay in processing. The gross settlement means that the funds get transferred on a one-to-one basis. 

Details Required:

A customer requires below mentioned details to transfer funds via RTGS:

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

RTGS Fees

Below mentioned are the fees for funds transfer through RTGS:

Net Banking Nil
Bank Branch INR 15 + Applicable GST

RTGS Timings

Below mentioned are the timings for funds transfer through RTGS:

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

RTGS Limit

Below mentioned are the timings for funds transfer through RTGS:

Minimum Amount INR 2 Lakhs
Maximum Amount INR 25 Lakhs

How to transfer funds via RTGS?

  • By visiting Branch:  

    Mentioned below are the steps used to transfer funds via RTGS and execute offline funds transfers:

  • Visit any nearest branch and request for RTGS form.
  • Fill out the RTGS form with all the details required like date, amount for funds transfer, etc.
  • Add the account details, and cheque details like Serial Number, and IFSC code.
  • Sign the form to authorize the funds transfer.
  • The bank will then process the fund’s transfer on the basis of details furnished by the customer.

 

  • Via Internet Banking:

Mentioned below are the steps used to transfer funds via RTGS and execute online funds transfers:

  • Log in to the official website of HDFC Bank using the User Name and Password.
  • Click on the “Payments/ Transfer” section and select the appropriate option for fund transfer.
  • Click on “Proceed”.
  • Select the account from which the amount is to be transferred.
  • Enter the amount, reason for transfer, and beneficiary account number.
  • Verify all the details and click on “Confirm”.
  • Enter the Internet banking password along with the OTP received on the registered mobile number and click on “Confirm”.
  • A confirmation message will then be received and the transaction will be executed.

 

  • HDFC IMPS:

HDFC Bank IMPS (Immediate Payment Service) is a funds transfer facility where one can send or receive money instantly 24*7, that too all year round i.e. 365 days. It allows users to send and receive funds from their savings bank account in real-time. It facilitates inter-bank transactions with the help of Internet and Mobile banking. 

IMPS Charges

Below mentioned are the HDFC IMPS Charges:

Transaction Type IMPS Charges
Mobile and Internet Banking Nil
Bank Branch Up to INR 1 Lakh – INR 5+ GST 

INR 1 Lakh – INR 2 Lakhs – INR 15+ GST

How to Register for HDFC IMPS?

Mentioned below are the steps to register for HDFC IMPS:

  • One can apply for IMPS registration at the time of account opening only with the help of a unique 7-digit MMID.
  • This 7-digit MMID is received at the time of account opening only. Also, it can be generated via mobile app, SMS, or by calling HDFC Customer Care. 
  • Once the registration is completed, the HDFC mobile app can be used to transfer funds.

 

Benefits of HDFC IMPS

Mentioned below are the benefits of HDFC IMPS:

  • IMPS can be done 24*7 i.e. even on bank holidays.
  • The funds can be transferred from anywhere and at any time. 
  • Funds up to INR 2 lakh can be transferred each time instantly to the selected beneficiary.
  • A track of several funds can be maintained of the funds transferred with the help of an SMS alert.
  • The IMPS charges are quite nominal.

Sneha

Hello, This is Sneha and I am the owner of www.dotricky.com Thank you for visiting our site. Here I am creating this site only focusing to help people, also, I have 4 years' experience in this field. for quality, information stay connected with our site. Thank you

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