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How to transfer 6 Lac Rs without incurring NEFT fee?

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Deal Subedar
maxdealer

Hi, I need to transfer Rs 6 Lacs from Hdfc bk account to another account. Since both NEFT n IMPS r charged, is there a way to do this through some fintech app (BHIM etc) free of cost? Would appreciate any guidance @DealSeeker @TrickyTimer @A2Zdeals

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Deal Subedar Deal Subedar
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PLEASE DELETE… sorry for posting this in the wrong forum @Nigel

Generous Generous
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@maxdealer
Try UPI but you have to transfer as per max limit day by day, you can’t transfer 6 lacs at one go.

Perfectionist Perfectionist
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@maxdealer

(1) UPI transactions are limited to max 1 lac per day.

(2) IMPS transactions are limited to max 2 lac per transaction (not sure about the daily limit).

(3) BHIM transactions are limited to max 20K per day.

(4) Your only appropriate options are NEFT and RTGS. It would likely cost about Rs.50 to send 6 lacs in a single transaction via RTGS. Do NOT try to save these 50 or so rupees. Avoid the hassle and risk when you are dealing with such amounts.

Shopping Friend Shopping Friend
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In case time is not the constraint, issue cheque and lodge in the clearing.
Free of charge.

Deal Newbie Deal Newbie
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+1

Shopping Friend Shopping Friend
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RTGS – Outward From Rs 2 Lacs to Rs 5 Lacs – Rs 25 (exclusive of taxes) per transaction Above Rs 5 Lacs- Rs 50 (exclusive of taxes) per transaction

Even 2 RTGS OF
2+4 will attract charges of Rs 50 total.+ tax.

Deal Newbie Deal Newbie
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true.
posted the HDFC charges link in the other thread.
( https://cdn2.desidime.com/assets/textile-editor/icon_evil.gif why not merged, God knows).

Deal Cadet Deal Cadet
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If the bank is same, the cheque is best and free option. u can ask your branch manager to clear it within 30 mins.
I normally use this method. ICICI to ICICI

Dimer of The Year 2020 Dimer of The Year 2020
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icici to icici is free bro https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif
same to same bank its free bro https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif

Pro Entertainer Pro Entertainer
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@maxdealer

Do you have digisavings?

Deal Subedar Deal Subedar
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Nope

Deal Subedar Deal Subedar
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Thx all for making this an active discussion topic https://cdn1.desidime.com/assets/textile-editor/icon_smile.gif guessing its relevant and useful to multiple people

Deal Subedar Deal Subedar
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ICICI has no charge on NEFT, as far as I know.

Deal Lieutenant Deal Lieutenant
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I am wondering if you have 6 lacs to transfer then why worrying about 60 rs charge. you must be aware that all banks have Anti money laundering tools and you may be flagged on those parameters if you do transactions just below the AML limits and account may be frozen unless you provide relevant proofs. Why face the hassle for saving nominal charge

Deal Subedar Deal Subedar
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Agreed. Will Transfer full amt via NEFT. Today closed anyway

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Deal Cadet Deal Cadet
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If it is same bank, local or other city .. transfer by cheque over the bank counter, free of charge
Other bank, deposit in account through clearing .. free of charge. takes 24 hrs i.e second day after 7pm it clears.rs
NEFT -same day before bank close --rs 2/- per lakhs+taxes (my bank charges Rs 20 slab up to 6 lakhs.) It is foolish to calculate penny amounts when we need big services…..

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