What are the NEFT charges?
1)Inward transactions at destination bank branches (for credit to beneficiary accounts)
2)Free, no charges to be collected from beneficiaries.
Outward transactions at originating bank branches (charges for the remitter)-
1) For transactions up to 10,000: not exceeding 2.50 (+ Service Tax)
2) For transactions above 10,000 up to 1 lakh: not exceeding 5 (+ Service Tax)
3) For transactions above 1 lakh and up to 2 lakhs: not exceeding 15 (+ Service Tax)
4) For transactions above 2 lakhs: not exceeding 25 (+ Service Tax)
What are the NEFT timings?
National Electronic Funds Transfer timings are in hourly batches .There are twelve settlements from 8 am to 7 pm on week days (Monday to Friday) and six settlements from 8 am to 1 pm on Saturdays.