National Electronic Funds Transfer (NEFT) is one of the easiest way to fund transfer using both online internet banking and bank branches.
What is NEFT Timing?
NEFT is regulated by Reserve Bank of India and now being used by almost 200 banks in India. Timings for the NEFT are same for all banks set by RBI. NEFT is run in 23 batches between 8 AM to 7 PM everyday except bank holidays and 2nd / 4th Saturday of the month.
|Transaction Days||NEFT TIMINGS|
|All bank working days (Except 2nd and 4th Saturday)||8:00 AM to 7:00 PM|
What are NEFT Charges?
Cap on charges levied on NEFT transaction are set by RBI. It is a variable amount depending upon fund being transferred via NEFT. Here is the chart of NEFT charges below:
|Transaction Amount||NEFT Charges|
|Fund Transfer up to Rs 10,000||Up to ₹ 2.50 + Applicable GST|
|Fund Transfer above Rs 10,000 and up to Rs 1 lakh||Up to ₹ 5 + Applicable GST|
|Fund Transfer above Rs 1 lakh and up to Rs 2 lakh||Up to ₹ 15 + Applicable GST|
|Fund Transfer above Rs 2 lakh||Up to ₹ 25 + Applicable GST|
What is NEFT Limit?
Although there is no minimum and maximum limit set by RBI on NEFT transactions but you may find that your has set maximum limit. You may contact your bank for more details on this.