Question

In case one does not have a bank account, the maximum amount that can be transferred through NEFT system is ______.

Options

• ₹ 50,000

• ₹ 2,00,000

• ₹ 49,999

• No such limit

Answer 1

In case one does not have a bank account, the maximum amount that can be transferred through NEFT system is ₹ 49,999.

Explanation:

• For non-account holders (walk-in customers), the maximum limit for fund transfer through NEFT is ₹ 50,000 per transaction.
• For account holders, there is no limit on NEFT transactions (though individual banks may set their own limits).