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,
1. Handle Credit card payments from home.
2. Faster because no demand drafts, cheques or letters.
3. What is NEFT Funds Transfer?
A nation- wide funds transfer system, supporting the transfer of funds from any bank branch to any other bank branch.
1) NEFT Inward Charges – Free2) NEFT Outward Charges – A) 2 Lakh to 5 Lakh -50 Rs per transaction
B) 5 Lakh & Above – 100 Rs per transaction
NEFT: Monday to Saturday (Excluding 2nd & 4th Saturday) 10:15 AM to 4:15 PM
** "NOTE : The charges stated above are exclusive of service tax"