Do you need to transfer some funds immediately from your Indian Bank account using the Indian Bank NEFT option? If yes, then before you do the transfer especially at an Indian Bank branch, it is imperative that you know of Indian Bank NEFT charges.
Indian Bank NEFT Charges – Offline
If you prefer going to the bank and place a request for NEFT using the Indian Bank NEFT Form, there will be certain charges to it, basis transfer amount, viz.:
- Up to Rs 10,000: Rs 2.50
- Rs 10,001 to Rs 1 lakh: Rs 5.00
- Greater than Rs 1 lakh to Rs 2 lakhs: Rs 15.00
- Greater than Rs 2 lakhs: Rs 25.00
Please note that the above charges are exclusive of GST.
Indian Bank NEFT Charges – Online
As per the RBI guidelines, NEFT transactions done online are free, effective from 1st Nov 2017. This simply means that if you choose to place an NEFT transfer request via digital channels, like netbanking or mobile banking, there are no Indian Bank NEFT charges. This is in sync with the RBI guidelines.
|NEFT Amount||Online Indian Bank NEFT Charges|
|Rs 10,001 – Rs 1 lakh||NIL|
|Above Rs 1 lakh – Rs 2 lakhs||NIL|
|Above Rs 2 lakhs||NIL|
Indian Bank NEFT Form
So, as stated above, there are no NEFT charges on your Indian Bank transaction when you use a digital channel. However, if you go to your bank and initiate NEFT there, you will be paying NEFT charges and for these, you will require Indian Bank NEFT form as well.
Read More: Indian Bank NEFT Form
Indian Bank NEFT Limit
Indian Bank NEFT is a simple and convenient mode of transferring money, allowing customers to transfer as little as Rs. 100. Moreover, there is no specific upper limit for NEFT transactions made through the bank’s internet banking services or at the branch.
However, if you wish to transfer money via NEFT at an Indian Bank branch and you do not have a bank account, you will be able to transfer a cash amount of Rs 50,000 in a day. Also, check Indian Bank Timings before going to the branch to save time.
Also, check other bank’s NEFT charges in the below table:
|Axis Bank NEFT Charges||NEFT Charges||PNB NEFT Charges|
|BOB NEFT Charges||NEFT Charges HDFC||SBI NEFT Charges|
|Canara Bank NEFT Charges||NEFT Charges ICICI|
Indian Bank NEFT Charges: FAQs
Indian Bank NEFT charges vary from Rs 5 to Rs 25 (plus GST) basis the transaction amount.
Yes, you may. For non-customers, NEFT is available against cash remittance of Rs 50,000 (maximum).
Yes. If done at the bank, both NEFT and RTGS carry charges. But where NEFT Indian Bank charges range from Rs 5 to Rs 25, RTGS charges for Indian Bank are Rs 25 and Rs 50 per transaction for an amount of Rs 2 lakhs – Rs 5 lakhs and Rs 5 lakhs above.
PAN is not required for online transaction of NEFT. Also, if your KYC is complete, you will not be asked PAN at the branch. PAN is necessary only if you’re a non-customer or if your KYC is not done.