NEFT

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.

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 1,00,000/- Rs 5.00
Rs 1,00,000/-and above Rs 15.00
   


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


 

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