Services / National Electronic Funds Transfer (NEFT)
National Electronic Funds Transfer (NEFT) NEFT is electronic funds transfer system, which facilitates transfer of funds to other bank accounts in over 63000 bank branches across the country. This is a simple, secure, safe, fastest and cost effective way to transfer funds especially for Retail remittances.
FEATURES & BENEFITS
Customers can remit any amount using NEFT Customer intending to remit money through NEFT has to furnish the following particulars:
- IFSC (Indian Financial System Code) of the beneficiary Bank/Branch
- Full account number of the beneficiary
- Name of the beneficiary.
| Range | Charge |
| Rs 1/- to Rs 10,000/- | Rs 3.00 |
| Rs 10,001/- and Rs 1,00,000/- | Rs 6.00 |
| Rs 1,00,001/- and 1,99,999/- | Rs 18.00 |
| Rs 2,00,000/- and above | Rs 30.00 |
| Criteria | NEFT |
| Settlement | Done in batches (Slower) |
| Full Form | National Electronic Fund Transfer |
| Timings on Mon – Fri | 10:00 am – 3:00 pm |
| Timings on Saturday | 10:00 am – 12:00 pm |
| Minimum amount of money transfer limit | No Minimum |
| Maximum amount of money transfer limit | No Limit |
| When does the Credit Happen in beneficiary account | Happens in the hourly batch Between Banks |
| Suitable for | Small Money Transfer |
