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Old June 21st, 2016, 03:53 PM
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Join Date: Nov 2014
Default NEFT Money Transfer

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  #2  
Old February 13th, 2018, 03:14 PM
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Default Re: neft money transfer

I want to know the timing to money transfer through National Electronic Funds Transfer (NEFT) in State bank of India SBI?
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  #3  
Old February 13th, 2018, 03:15 PM
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Join Date: Aug 2012
Default Re: neft money transfer

The National Electronic Funds Transfer NEFT are transferred to the credit account with the other participating Bank using RBI's NEFT service. RBI acts as the service provider and transfers the credit to the other bank's account.

This system of fund transfer operates on a Deferred Net Settlement basis.

Presently, NEFT operates in hourly batches from 8 am to 7 pm on week days and 8 am to 1 pm on Saturdays.

NEFT timing-

NEFT transactions will be sent to RBI based on the following schedule:

RBI settlement Timings

Day Start Time End Time
Monday to Friday 08:00 hrs 19:00 hrs
Saturday 08:00 hrs 01:00 hrs

NEFT transactions are settled in batches based on the following timings:

Settlements on weekdays at hourly intervals from 08:00 hrs to 19:00 hrs

Settlements on Saturdays at hourly intervals from 08:00 hrs to 01:00 hrs

Please note that all the above timings are based on Indian Standard Time (IST) only.

NEFT charges-

Items Transaction Slab Charges
NEFT
Upto Rs.10,000- Rs.2.50
Upto Rs.1.00 lac Rs.5.00
Above Rs.1.00 lac to 2.00 lacs Rs.15.00
Above Rs.2.00 lacs Rs.25.00

Contact-

Toll free number: 1800 11 2211
Toll free number: 1800 425 3800
Toll number: 080-26599990
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