State Bank of India (SBI) is a public sector bank in India with a wide range of banking services. It operates over 22,000 branches in India and has a global presence in over 32 countries. SBI is committed to social causes and is a trusted banking partner for millions of customers.
Did you know that you can do NEFT transfers from your SBI account for free? Yes, you heard it right. But there’s a catch – it’s free only when you use the SBI NEFT online. If you’re considering using the SBI NEFT form at the bank to submit a transfer request, bookmark this page – SBI NEFT charges.
SBI NEFT Charges – Offline
As mentioned earlier, there are no SBI NEFT charges on transactions done using either the SBI netbanking services or the mobile banking. However, the below-stated SBI NEFT charges will be applicable if you carry out the request at the bank:
|NEFT Amount||SBI NEFT Charges|
|Rs 10,000||Rs 2.00|
|Rs 10,001 – Rs 1 lakh||Rs 4.00|
|Above Rs 1 lakh – Rs 2 lakhs||Rs 12.00|
|Above Rs 2 lakhs||Rs 20.00|
Please note that the above charges are exclusive of GST.
Click here for GST Rates, 2023.
SBI NEFT Charges – Online
For any amount that you transfer from your SBI account to any other bank account using the online services, the bank will not charge any fee.
|NEFT Amount||Online SBI NEFT Charges|
|Rs 10,001 – Rs 1 lakh||NIL|
|Above Rs 1 lakh – Rs 2 lakhs||NIL|
|Above Rs 2 lakhs||NIL|
SBI NEFT: Transfer Limit
The following are the transfer limits set by the bank for NEFT:
- Minimum SBI NEFT limit: Re 1
- Maximum SBI NEFT limit: No limit
Also, check other bank’s NEFT charges in the below table:
|Axis Bank NEFT Charges||Indian Bank NEFT Charges||NEFT Charges ICICI|
|BOB NEFT Charges||NEFT Charges||PNB NEFT Charges|
|Canara Bank NEFT Charges||NEFT Charges HDFC|
SBI NEFT Charges: FAQs
The bank does not charge any fee when you do NEFT via internet banking or mobile banking.
SBI NEFT charges at the bank range from Rs 2 to Rs 20 (plus GST).
For non-customers, NEFT is available against cash remittance up to Rs 50,000.
NEFT operates in 48 half-hourly batches starting from 00:30 hours till 00:00 hours. This service is available 24×7 for 365 days, including holidays.
NEFT full form: National Electronic Funds Transfer.
Yes. You may transfer funds of Rs 2 lakhs or more using the Indian Bank NEFT.
The beneficiary can expect the SBI NEFT payment within 2 hours.