NEFT stands for National Electronic Fund Transfer,, is also fund transfer mechanism. NEFT is an application developed by RBI to facilitate customers to transfer funds from one bank account to another bank account in India. Mostly NEFT can be send from Rs. 1/- to Rs. 2,00,000/-, but in NEFT system beneficiary customer gets credit on the same day or within 24 hours. It is an efficient, secure, economical, reliable and expeditious system of funds transfer between Banks. Our bank is Sub-member bank of YES Bank Ltd to provide NEFT facility to the Customers.
All our branches are NEFT enabled.
The remitting customer has to furnish the following information to a bank for initiating a NEFT remittance:
- Name of the Beneficiary Bank and Branch.
- Name of the Beneficiary Customer.
- Account Number of the Beneficiary Customer.
- IFSC code of the Receiving Branch.(IFSC Code is printed on cheque leaves.)
- Amount to be Remitted.
- Account Number to be Debited
| Amount | Charges + Taxes |
|---|---|
| 1-50,000/- | 5/- |
| 50,001-1,00,000/- | 10/- |
| 1,00,001-2,00,000/- | 20/- |
| 2,00,001-5,00,000/- | 30/- |
| Above 5,00,001/- | 50/- |
