The full form of NEFT is National Electronic Funds Transfer. The RBI created the NEFT electronic payment system to make it easier for clients to transfer money between banks in India. It is a safe, affordable, dependable, and effective method of transferring money between banks.
The remitter must provide the appropriate information, including the beneficiary’s name and account number, the bank’s name and branch information, and the beneficiary branch’s IFSC code, at the time of the funds’ transfer. All of our CBS branches can now do RTGS and NEFT transactions. You can find the address and IFSC codes of branches that support NEFT by using the Branch Locator on this site’s home page or by following this link.
Excel in IELTS with India’s Top Online Coaching
Leap has helped more than 1 Lakh students achieve 7+ IELTS band.
Timing of NEFT Transactions
NEFT is now accessible to customers every day of the year (24 hours a day, 7 days a week), including on holidays.
The Branch Interface will follow the Branch’s schedule for NEFT transaction times.
Transaction fees for NEFT
| Slab | Charges through | |
| Slab | Charges Through | |
| Branch | Net Banking/mob-Banking | |
| Upto Rs.10,000/- | Rs.2.50 | NIL |
| Above Rs.10,000/- and up to Rs.1.00 lakh | Rs.5.00 | |
| Above Rs.1.00 lakh up to Rs.2.00 lakh | Rs.15.00 | |
| Above Rs.2.00 lakh | Rs.25.00 |
No minimum or maximum amount is set for a given consumer. The restrictions for NEFT transactions made through Internet Banking are listed below. However, the maximum NEFT amount for walk-in customers who deposit cash is Rs. 50,000.