What Are The Charges For NEFT?

NEFT, or National Electronics Funds Transfer, is one of the most secure modes of online transaction. I recently got to know that there are NEFT transfer charges which are deducted after you make a transaction. These charges usually differ from bank to bank. It was my father who explained to me the various charges involved according to the transaction amount. I have an account in HDFC so I can share the fees and charges involved in HDFC NEFT transfers. 

What is the Charges for NEFT Transfer?

I have shared below the transaction charges for NEFT done via HDFC Bank. 

I also learnt that the maximum amount of funds that can be transferred per day depends on the customer’s TPT limit. This is usually up to Rs. 50 Lakhs. On national holidays, 2nd and 4th Saturdays, and Sundays, a maximum of Rs. 2 Lakhs per transaction can be transferred, which is again subject to TPT. 

Despite these charges, NEFT is one of the most secure and quick online money transfer systems that comes under Internet-Banking.  

How to Do NEFT Transfer?

There are 3 simple steps to get started with your NEFT transfer.

1. Firstly, login to your Net banking portal, and select ‘Transfer to other Bank’ option under ‘Funds Transfer’ section.

2. Select account, beneficiary, and then enter the required details. These include the account number, bank name, branch, and IFSC code.

3. The final step is to review the details and confirm. 

I hope this answer helps you understand what are the charges for NEFT.

I never really did NEFT until last month where I sent Rs 20,000 to my college for the semester fee. However after updating my passbook I noticed that an extra has been deducted from my account. I got a bit confused so asked my father if there are any NEFT transfer charges to which he said yes. It is disturbing to see my balance reducing for so many reasons but you cannot resist this. I would thereby like to inform you about the charges so that you can have an idea about them.

What are the charges for NEFT for ICICI Bank?

Since I have an account in ICICI Bank, I can tell you the charges of NEFT here.

I hope this answers your question on what is the charges for NEFT transfer.

No charges are to be paid to savings bank account customers for NEFT transactions done online. NEFT transaction charges are therefore free online so better opt for it.

NEFT is a great way to transfer money easily and since I have done it a lot of times, I will suggest you to go for it anytime you want. This information must be enough to know about the NEFT transfer charges

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