If you have saving account in SBI, ICICI, HDFC, Kotak Mahindra Bank, Axis bank or other nationalized bank with net banking facility, you can transfer any amount of money from your bank to other bank.
Almost all bank is providing NEFT facility. If you want to transfer less than 1,00,000 Rs money from saving account of one bank to saving account of other bank you have to use NEFT facility.
Through NEFT, you can transfer money from one account to other. The transfer will not occur in real time, it will take time to credit money in other account.
If you want to transfer more than 1 lakh rs in other’s account, you have to use RTGS (Real time gross settlement) facility. SBI accout is having this facility as default. Other bank will provide RTGS facility on request. The transfer of money through RTGS will takes place in real time. There is no limit of transaction of money through RTGS.
If your bank is not providing RTGS facility, you can transfer more than 1 lakh rupees money through multiple NEFT transaction.
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