Complete Guide About NEFT with Web Online CA

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National Electronic Fund Transfer (NEFT) Online in India

  • By Web Online CA
  • 4 min read
  • Updated On 21-February-2026

What is NEFT?

NEFT stands for National Electronic Funds Transfer. It is an electronic payment system developed by RBI for transferring money by customers from one bank to another bank in India. NEFT transactions are settled in batches and are facilitated by the Reserve Bank of India (RBI). It is a secured, economical and reliable system of funds transfer between banks. NEFT is widely used for various purposes, including salary payments, bill payments, and fund transfers between accounts held at different banks across India.

NEFT Transfer Limit Per Day

There is no transfer limit on NEFT transactions by RBI. However, banks may set up an NEFT transfer limit on their risk perception with the approval of their board.

NEFT Transfer Charges

In case you are receiving money, no charges are levied. However, if you are sending money, you would have to pay certain fees to facilitate the same.

- Maximum of Rs. 2.50 (+ GST) for transfers up to Rs. 10,000.
- Maximum of Rs. 5 (+ GST) for transfers above Rs. 10,000 and less than Rs. 1 Lakh.
- Maximum of Rs. 15 (+ GST) for transfers above Rs. 1 Lakh and less than Rs. 2 Lakh
- Maximum of Rs. 25 (+ GST) for transfers above Rs. 2 Lakh.

How to Transfer Money through NEFT

Below are the steps to make an NEFT transfer online:

Step - 1: Log in to your net banking account with your credentials.

Step - 2: Click on the 'Fund transfer' option on the home page.

Step - 3: Select 'NEFT' from the drop-down option.

Step - 4: Add the beneficiary to your account if you haven't already.

Step - 5: Click on the 'Add beneficiary' option and enter the beneficiary's details such as IFSC, account number, account type, and name..

Step - 6: An OTP will be sent to your registered mobile number to authenticate.

Step - 7: Once the beneficiary is added, select the beneficiary you need to send the money.

Step - 8: Enter the amount you wish to transfer and click on 'Confirm'.

Step - 9: Once you confirm, the amount will be transferred from your bank account to the beneficiary's account.

Benefits of Using NEFT for Fund Transfer

- NEFT is easy, safe, secure, simple and efficient for fund transfer.
- NEFT is available 24×7 throughout the year.
- With NEFT, you can easily transfer funds from one bank account of any branch to another account.
- The service is available Pan-India. Money can also be sent to Nepal.
- The process of NEFT can be initiated from your phone or the comfort of your home via net banking or mobile banking.
- Money can be transferred via NEFT on holidays and weekends as well.
- When the beneficiary receives money then the remitter receives credit confirmation via SMS or email.

Details Required for Funds Transfer Through NEFT

Below are the details of the beneficiary required for fund transfer through NEFT:

- Name 

- Bank Account number and type 

- Bank name and branch name 

- Branch’s IFSC code

Frequently Asked Questions

NEFT (National Electronic Fund Transfer) is an electronic payment system that allows individuals and businesses to transfer funds from one bank account to another across India. It is regulated by the Reserve Bank of India and operates through a centralized clearing system.

Yes, NEFT is available 24 hours a day, 7 days a week, including weekends and bank holidays.

NEFT transactions are processed in half-hourly batches. Most transfers are credited within 30 minutes to a few hours, depending on the bank's processing cycle.

Online NEFT transfers via internet or mobile banking are usually free. However, banks may charge a small fee for NEFT transactions initiated at a branch.

There is no minimum or maximum limit set by the RBI. However, individual banks may set their own transfer limits based on account type and security policies.

Yes, you can visit your bank branch and fill out an NEFT form to transfer funds offline.

Yes, NEFT is highly secure as it operates under the supervision of the Reserve Bank of India and uses encrypted banking systems for fund transfers.
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