Do you have an HDFC bank account? Does it have the online services active? If yes, this article is for you. If not, then first get your netbanking services active and then bookmark this post as here we tell you the HDFC NEFT charges applicable on transferring funds via NEFT services.
HDFC NEFT Charges – At the Bank
HDFC Bank does not charge fee on NEFT when done online, i.e. via HDFC netbanking or mobile banking. However, it does not mean that there are no HDFC NEFT charges. If you carry out the NEFT request by going to your HDFC Bank branch, the bank will charge you with the following NEFT charges:
|NEFT Amount||HDFC NEFT Charges|
|Rs 10,000||Rs 2.00|
|Rs 10,001 – Rs 1 lakh||Rs 2.00|
|Above Rs 1 lakh – Rs 2 lakhs||Rs 10.00|
|Above Rs 2 lakhs||Rs 10.00|
Please note that the above charges are exclusive of GST.
HDFC NEFT Charges – Online
As per the RBI guidelines, NEFT transactions done online are free, effective from 1st Nov 2017.
|NEFT Amount||Online HDFC NEFT Charges|
|Rs 10,001 – Rs 1 lakh||NIL|
|Above Rs 1 lakh – Rs 2 lakhs||NIL|
|Above Rs 2 lakhs||NIL|
HDFC NEFT: Transfer Limit
The following are the NEFT transfer limits set by the bank for NEFT:
- Minimum HDFC NEFT limit: Re 1
- Maximum HDFC NEFT limit: Rs 50 lakhs (may depend on customer’s Third Party Transfer or TPT limit)
- 7 AM to 7 PM: Maximum Rs 50 lakhs (on RBI working days)
- 7 PM to 7 AM: Maximum Rs 2 lakhs per transaction (all days)
Note: While adding a new beneficiary you can make transaction of maximum of Rs 50,000 (in full or parts inclusive of failed attempt) during the first 24 hrs.
About HDFC Bank
HDFC Bank is one of the top banks in India along with being one of the largest private sector banks in India. It is headquartered in Mumbai and was established in 1994. Currently, the bank has a nationwide presence with above 5,500 branches and numerous ATMs across India.
What are other fund transfer options by HDFC online?
Apart from HDFC NEFT, these are other options available that you can use to transfer funds:
- HDFC RTGS: This is a Real Time Gross Settlement system that allows you to transfer large amounts of money from your HDFC Bank account to another bank account in India. The minimum amount for RTGS transfer is Rs. 2 lakhs.
- HDFC IMPS service: IMPS (Immediate Payment Service) allows you to transfer funds instantly, 24×7, and without any charges. You can transfer funds using IMPS through HDFC Bank’s mobile banking or net banking platform.
- HDFC Bank eCMS service: HDFC Bank’s eCMS (Electronic Clearing Service) allows you to set up an automatic debit instruction for recurring payments such as insurance premiums, SIPs, and loan EMIs. This service is free of charge and can help you avoid NEFT charges.
- HDFC UPI: Banks’s Unified Payment Interface service or UPI, allows you to transfer funds instantly, 24×7, and without any UPI charges. You can link your HDFC Bank account with any UPI-enabled app and use it for fund transfers.
How to Avoid HDFC NEFT Charges?
If you want to avoid paying NEFT charges, an easy way is to online. Whenever you use HDFC NEFT via netbanking or mobile banking, the bank does not charge any fee for processing your request. It is quick, free and saves time and paper as well.
Or, simply use HDFC IMPS option or UPI for fund transfers. You may also choose to transfer funds via HDFC RTGS if the transfer amount is Rs 2 lakhs or more.
Also, check other bank’s NEFT charges in the below table:
|Axis Bank NEFT Charges||Indian Bank NEFT Charges||PNB NEFT Charges|
|BOB NEFT Charges||NEFT Charges||SBI NEFT Charges|
|Canara Bank NEFT Charges||NEFT Charges ICICI|
HDFC NEFT Charges: FAQs
There are zero HDFC NEFT charges for online transactions.
HDFC Bank charges Rs 2 for NEFT transactions of up to Rs 1 lakh and Rs 10 for NEFT done at the bank.
Yes, you may. For non-customers, NEFT is available against cash remittance of Rs 50,000 (maximum).
NEFT full form: National Electronic Funds Transfer.
HDFC Bank allows a transfer amount of maximum Rs 50 lakhs in a day using the NEFT services. It may also depend on the customer’s TPT (third party transaction) limit.
RTGS stands for Real Time Gross Settlement.