NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT)
NEFT is an electronic payment system developed by RBI to facilitate transfer of funds by customers from one bank to another bank in India. It is a secured, economical, reliable and efficient system of funds transfer between banks.
At the time of funds transfer, the remitter has to furnish the necessary details i.e., Name & Account No. of the beneficiary, Name of bank/branch and IFSC Code of the beneficiary branch. All our CBS branches have been enabled for both RTGS/NEFT transactions. Address and IFSC Codes of NEFT enabled branches can be had from the Branch Locator available on the Home page of this site or by clicking on the following link.
SETTLEMENT TIMINGS/AMOUNT & SERVICE CHARGES :
|SETTLEMENT TIMINGS||NEFT AMOUNT||SERVICE CHARGES|
|Hourly batch Settlements under Deferred Net Settlement [DNS] basis from 8.00 AM to 7.00 PM. There are 12 hourly batch Settlements in a day.||Up to Rs.10,000/-
Rs.10,000/- & up to Rs.1 lakh
Above Rs.1 lakh & up to Rs.2 lakh
Above Rs.2 lakh
|Rs.2.50 + GST
Rs.5.00 + GST
Rs.15.00 + GST
Rs.25.00 + GST
There is no minimum/ maximum limit for individual customers. For NEFT transactions through Internet Banking, the limits are specified below. However, for walk-in-Customers, by depositing cash, the amount of NEFT cannot exceed Rs.50,000/-.
NEFT messages can be initiated 24x7, including through Net-banking. But the messages created after the cut-off time i.e., after 7.00 PM, will be rescheduled by RBI and settlement will take place in the immediate settlement batch(s) of the next working day.