NEFT for Funds Transfer
NEFT - National Electronic Fund Transfer - This system of fund transfer operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in batches as opposed to the continuous, individual settlement in RTGS. Presently,
Benefits
- Handle Credit card payments from home.
- Faster because no demand drafts, cheques or letters.
- What is NEFT Funds Transfer?
Ans. : A nation- wide funds transfer system, supporting the transfer of funds from any bank branch to any other bank branch.
Charges
- RTGS Inward Charges – Free
- RTGS Outward Charges
- 2 Lakh to 5 Lakh -50 Rs per transaction
- 5 Lakh & Above – 100 Rs per transaction
Timing
- NEFT: Monday to Saturday (Excluding 2nd & 4th Saturday) 10:15 AM to 4:15 PM