Want to transfer money securely and efficiently to others via bank account, then make it easy by NEFT. Just check the NEFT timings and required details to complete NEFT transfer…
National Electronic Fund Transfer is a banking service which used to transfer money from one bank account to another. NEFT is more preferable because it is more secured and efficient in case of fund transfer between banks. It is available in both online as well as in offline mode that is through bank branch. As in online mode, available on 24/7 anytime and offline mode may varies as per the bank timings.
You can even transfer from a single rupee to above 2 lakh rupees through NEFT service but it varies depends on customers like walk-in customers, they have a cash limit of only 50,000 rupees at a time.
|Name||National Electronic Fund Transfer|
|Service||Money Transfer between any bank|
|Transaction Limit||No minimum and Maximum limit|
|Customer Care numbers||02227561665, 02227573270|
- As per the guidelines from the reserve bank of India, the NEFT is available round the clock which includes public and government holidays. There is no day limit, but the National Electronic Funds Transfer transaction does work half hourly intervals.
- In the past, the NEFT was only operates during the daytime. It started from 8AM to 8PM on all working days which excludes the two Saturdays in the month.
- So the NEFT does take the request of transfer and as per the batch schedule. They get cleared at once which might only delay your transfer for an hour.
- Hence any request placed in night, will be cleared in 1 hour or will take the early business of next working day
Required details for NEFT transfer
To proceed with NEFT bank transfer, Remitter needs to provide some of the required details of beneficiary account details. Some of the necessary details that required at NEFT transfer are:
- Name of Beneficiary
- Account number of Beneficiary
- Name of Beneficiary Bank Branch
- IFSC code of Beneficiary Bank Branch
- How much time NEFT takes for transfer in minimum and maximum limit?
Actually there is no maximum and minimum limit in NEFT transfer. But it charges some fees based on transfer amount. But in some cases like Walk-in customers, there is only a limit of 50,000 rupees at a time.
- How much time needed for NEFT to transfer the amount?
There is maximum of upto a 30 minutes taken to complete the NEFT transfer. So as per timings, we can do two NEFT transfers in a single hour.
- What is NEFT Transaction time?
As per the guidelines of RBI NEFT transaction time is minimum half an hour and may credit to destination account as per the batch runs every 0.30 hours IST.