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An established and centralized electronic payment system (maintained by RBI) that facilitates an efficient, secure, cost-effective, reliable, and expeditious system of direct one-to-one funds transfer and clearing in the banking sector across India.

NEFT enables you to electronically transfer funds from any bank branch to any individual with an account with any other bank branch in the country. The objective is to relieve the stress on the existing paper-based fund's transfer and clearing system.

Benefits: -


  • Available 24x7x365 basis through Internet Banking, Mobile Banking & also by visiting Branch as per Branch timings.
  • Near real-time fund transfer to the beneficiary account and settlement in a secure manner
  • Pan-India coverage through a large network of all the banks
  • Positive confirmation to remitter by SMS/email on credit to the beneficiary account
  • No charges to saving bank account customers
  • Can be used for a variety of transactions like credit card dues, payment of the loan, inward foreign exchange remittance, etc.

 

Special Features

  • Safe- secure mode of transferring funds from one bank branch to another bank branch.
  • Transaction Limit - No Maximum and Minimum Limit.

How to make an NEFT transfer: -

  • Log in to your net banking account.
  • Add the beneficiary as a payee. To do so, you have to enter the following details about the beneficiary in the ‘Add New Payee’ section:
    • Account Number.
    • Name.
    • IFSC Code.
    • Account Type.
  • Once the payee is added, choose NEFT as a mode of Fund Transfer.
  • Select the account you wish to transfer money from, the payee, enter the amount you have to transfer, and add remarks (optional).
  • Click on submit.

 

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