When making an NEFT transfer request from your ICICI Bank account to another bank’s account, it is imperative to be in the know of ICICI NEFT limit as well. This is especially pivotal if you’re making an online transaction via ICICI NEFT as there is no NEFT limit for at the branch requests. Let’s know about the ICICI NEFT limit in this post.
ICICI NEFT Limit
As per the guidelines by the RBI, there is no limit imposed by the RBI for the amount of funds that can be transferred through the NEFT system. That said, banks have the option to impose limitations on the internet banking NEFT requests. These are:
|ICICI NEFT Limit/Timing||1 AM – 7 PM||12AM – 1 AM and 7PM – 12 AM|
|Minimum Amount||Re 1||Re 1|
|Maximum Amount||Rs 10 lakhs or Rs 1 crore (basis customer segment)||Rs 2 lakhs|
ICICI NEFT Limit on Saturdays and Sundays
You can transfer an amount ranging from Re 1 to Rs 2 lakhs on every 2nd and 4th Saturday of every month. The rule is applicable to Sunday and HDFC bank holidays
ICICI NEFT Charges
There are no charges on ICICI NEFT requests when done online, i.e. either internet banking or mobile banking. Apart from these channels, if you choose to do it at the branch, the ICICI NEFT charges range from Rs 2.25 to Rs 25.75. These NEFT charges are basis the transaction amount of more than Rs 10,000 to above Rs 10 lakhs. Please note that ICICI NEFT charges, wherever applicable, attract GST as well.
ICICI NEFT Form
ICICI NEFT form is a document which you need to submit at your ICIC branch to initiate an NEFT (National Electronic Funds Transfer) transaction from ICICI Bank account to another bank account in India. This is required only when you’re doing the NEFT transaction at the branch. For online mode, this form is not required.
The form typically contains fields for the name and account number of the recipient, the name and account number of the sender, the amount to be transferred, and other relevant details such as the IFSC code of the recipient bank branch. ICICI NEFT forms can usually be obtained from ICICI Bank branches or through their online banking platform. You can visit our dedicated page by clicking the link below where the form is available for quick downloading.
Also, check other bank’s NEFT Limit in the below table:
ICICI NEFT Limit: FAQs
You can transfer an amount as low as Re 1 via ICICI NEFT.
ICICI NEFT limit for at-the-branch requests is not determined, as per the RBI guidelines.
On 2nd and 4th Saturdays, including Sundays and other bank holidays, ICICI NEFT limit for online transactions is Rs 2 lakhs for retail banking. This increases up to Rs 10/Rs 25 lakhs, basis customer segment on other days.
Online NEFT requests can be made 24×7 every 2nd and 4th Saturday. At-the-branch ICICI NEFT option is not available on any bank holiday.