To transfer ₹5 lakhs immediately, the best methods are RTGS (Real-Time Gross Settlement) or IMPS (Immediate Payment Service) through net banking or mobile apps. RTGS is ideal for instant high-value transfers of ₹2 lakh and above, while IMPS supports instant, 24/7 transfers up to ₹5 lakh per transaction.
According to the RBI, the daily transfer limit through the IMPS is ₹5 lakh. Still, the amount you can transfer may vary depending on the bank or your payment service provider, which will be between ₹2 lakh and ₹5 lakh.
Sending a wire transfer through your bank might be the best way to send a large amount quickly; P2P apps limit how much you can send (generally $1,000 to $10,000 per transfer) and delivery can take multiple days. Bank wire transfers generally are delivered within hours or minutes.
Yes, you can transfer ₹5 lakhs in a single transaction through HDFC Bank using IMPS (Immediate Payment Service) via Account number and IFSC. HDFC Bank's official IMPS limits state that the maximum limit per transaction for IMPS using an account number is ₹5 lakhs.
The UPI transaction limit is ₹1 lakh per day as per NPCI. For capital markets, insurance, collections, and foreign inward remittances, the limit is ₹2 lakh. Tax payments, educational institutions, hospitals, IPOs, and RBI retail direct schemes, the limit is ₹5 lakh.
GPay Transaction Limits for Special Cases
In certain cases, Google Pay offers a higher UPI transfer limit of up to ₹5 lakh per day as per NPCI guidelines from December 2021.
What are the fund transfer limits? On iMobile, the daily fund transfer limit is ₹20 lakh. For Net Banking (RIB), the default limit is ₹10 lakh.
3) IMPS to registered beneficiary - up to Rs 5 Lakh per day/per transaction. 4) NEFT to registered beneficiary per day - up to Rs. 10 lakh./per transaction - up to Rs 5 lakh. (Newly added beneficiary — less than 24 hours old — the limit is Rs 25,000).
NEFT: Funds usually reflect within 1–2 hours (batch-based settlement). IMPS: Money is credited instantly, making it ideal for emergencies.
For immediate transfers of large amounts like ₹5 lakhs, **RTGS (Real-Time Gross Settlement)** is the most suitable method for high-priority transactions.
NEFT has no upper limit for transactions, but processing can take up to one business day. RTGS requires a minimum transaction amount of ₹2 lakh and processes transactions instantly. NEFT transactions are often free or have minimal fees, especially for online transactions.
What is the limit for a Resident Individual for sending money to USA from India? According to the Liberalised Remittance Scheme (LRS) for money transfers overseas, there is an annual cap of US$250,000 or its equivalent on international fund transfers by any resident individual in a financial year.
IMPS transactions up to ₹1,000 are not chargeable. From 1,000 to 10,000, one would have to pay ₹2.5+GST as IMPS charges. ₹10,001 up to ₹1 Lakh, and ₹1,00,000 – ₹2,00,000, charges of ₹5+GST, ₹15+GST are applicable, respectively.
The RTGS system is the one of the fastest interbank money transfer facility available through secure banking channels in India. RTGS is available on all days on 24x7x365 basis.
NEFT is a centralised payment system operated by the Reserve Bank of India (RBI), whereas IMPS is a money transfer service managed by the National Payments Corporation of India (NPCI). Both methods of fund transfer are safe and fall under the purview of the Reserve Bank of India.
Yes, you can transfer ₹5 lakh per day using IMPS (Immediate Payment Service). According to the Reserve Bank of India (RBI) guidelines, the maximum daily transfer limit for IMPS transactions is ₹5 lakh.
NEFT (National Electronic Funds Transfer) for scheduled transfers. RTGS (Real-Time Gross Settlement) for high-value, same-day transfers (usually ₹2 lakhs and above). IMPS (Immediate Payment Service) for instant transfers available 24/7.
Yes, NEFT transfer is free in SBI when it is done through online channels, such as SBI Netbanking and mobile banking app. You can transfer Rs. 10 lakh in one day in SBI through NEFT or RTGS as there is no maximum limit for NEFT or RTGS transactions. There is no maximum limit for NEFT and RTGS transfers in SBI.
Transfers can be made in multiples of Rs 2 lakh, up to the chosen TPT limit, with a maximum of ₹50 lakh. Security Measures: For security reasons, transfers to newly added beneficiaries are restricted to ₹50,000 in total, whether in full or in parts, during the first 24 hours after the beneficiary is added.
You can send up to $50,000 directly to an Indian bank account from your US account. You can make a money transfer to India banks including State Bank of India, HDFC and ICICI.
Quick Transfer Transaction limit: Rs. 50,000/- per transaction and Rs. 50,000/- per day.