What is NEFT, IMPS, RTGS and UPI Transaction?

Nowadays, we resort to Online Transaction to send money , but do you find it works? And how many types are these? So come, know all the questions today.

What is NEFT, IMPS, RTGS and UPI Transaction

We do four types of online transactions -

1. NEFT
2. RTGS
3. IMPS.
4. UPI

NEFT(National Electronics Fund Transfer)

Here is an Online Money Transfer Tool. With the help of which we transfer money. These systems were made by the RBI in 2005 . With the help of this system, we can transfer money to each other's account. This transaction is done in Batch-Wise format. Money can be sent to any NEFT enabled account in India. For the NEFT Transaction , first of all, you should be able to get the name of the account number, IFSC code, bank branch name and account holder name you are sending.

Time to Transaction

These transactions can only be done in working time. This can not be done on holiday. Normal Day starts from 8 a.m. to 7 a.m. and on Saturdays from 8 a.m. to 1 p.m.

There is no maximum and minimum limit of NEFT Transaction.

RTGS(Real Time Gross Settlement)

RTGS is a system that can help you transfer money quickly. This was also made in 2005. If you want to send money to anyone more than 2 lakh rupees then you can do this transaction with the help of RTGS .

Time to transact it

The time of this transaction is similar to the NEFT . This holiday will not work. Monday to Friday 9am to 4:30 pm and Saturday 9am to 2pm.

Minimum limit of this Transaction is 2 lakh rupees and Maximum Limit is not.

Charge happens-

2,00000-5,00000 Rs 30/Transaction
Above 5,00000 Rs 55/Transaction

IMPS(Immediate Payment Transfer)

IMPS i.e. Immediately Payment Service is one of the tools to transfer money, with the help of which money can be transferred immediately. RTGS and NEFT Transaction takes some time to transfer money, but IMPS immediately gets it.

It was made by NPCI i.e. National Payment Corporation Of India in 2010. With the help of this tool, Real Time Money Transfer is done.

Money transfer time

In IMPS, any time money transfer can be done in 24 hours.

Limit and Charges

Minimum transaction limit of IMPS is 1 rupee and maximum limit is 2 lakh rupees / transaction.

IMPS Transaction Charge-

Upto Rs 10,000 - Rs2.5 / Transaction
from Rs 10,000 to Rs 1,00,000 - Rs5 / Transaction
Rs 1,0011/15 / Transaction

UPI(Unified Payment Interface)

UPI started in 2016, it was made by NPCI when 500 and 1,000 notes were closed in the country. Then there was a lot of trouble in the cash censoring of the people. At the same time the government had stressed on the cashless economy so that the problem of cash does not come out. Hence Prime Minister Narendra Modi had launched the UPI.

It works like IMPS Transaction . We can do Recharge, Bill Payment, DTH Recharge etc. with the help of UPI. With the help of UPI, money is transferred to any bank account immediately. This is a very easy and secure payment option.

Some UPI apps

BHIM UPI App
Google Pay
Phonepay
Paytm, etc.

Apart from this, you can install any bank's UPI application. You will find many UPI apps in Google Play store.

Time, Charge and Limit

It is free now, if it is charged, then it will charge 50 paisa for a transaction of 1,00,000. Its limit is Daily 10 Transaction and Total 1 lakh rupees 10 times. Meaning you do 1 lakh rupees once or twice.

Friends, all the above mentioned Transaction transactions are absolutely safe and all transactions are done under RBI supervision. If you have enjoyed this post, you must share it or you have any problem or suggestion, then you can comment below.

About TECH TIPS ATUL

Welcome to TECH TIPS ATUL Online Earning and Make Money Tips and technology Hello friends, My name is Atul Singh and I am in (bachelor of art). And my age is 19 years old I live in Ghaziabad city of India. I started blogging in the study again in 2017.