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Investment Simplified > Banking > SBI NEFT Charges, 2023
Banking

SBI NEFT Charges, 2023

Monika Mohan
Monika Mohan January 23, 2023 2 Min Read
Updated 2023/01/23 at 12:17 PM
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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.

Contents
SBI NEFT Charges – At the BankSBI NEFT Charges – OnlineSBI NEFT: Transfer LimitSBI NEFT Charges: FAQs

SBI NEFT Charges – At the Bank

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 AmountSBI NEFT Charges
Rs 10,000Rs 2.00
Rs 10,001 – Rs 1 lakhRs 4.00
Above Rs 1 lakh – Rs 2 lakhsRs 12.00
Above Rs 2 lakhsRs 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 AmountOnline SBI NEFT Charges
Rs 10,000NIL
Rs 10,001 – Rs 1 lakhNIL
Above Rs 1 lakh – Rs 2 lakhsNIL
Above Rs 2 lakhsNIL

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

SBI NEFT Charges: FAQs

What are the online charges for SBI NEFT?

The bank does not charge any fee when you do NEFT via internet banking or mobile banking.

What are the SBI NEFT charges at the bank?

SBI NEFT charges at the bank range from Rs 2 to Rs 20 (plus GST).

Can I do SBI NEFT if I don’t have a bank account?

For non-customers, NEFT is available against cash remittance up to Rs 50,000.

What are the NEFT timings?

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.

What is the full form of NEFT?

NEFT full form: National Electronic Funds Transfer.

Can I do SBI NEFT for more than Rs 2 lakhs?

Yes. You may transfer funds of Rs 2 lakhs or more using the Indian Bank NEFT.

How much time does it take for the SBI NEFT amount to reflect in beneficiary’s account?

The beneficiary can expect the SBI NEFT payment within 2 hours. 

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Posted by Monika Mohan
Monika Mohan is a writing enthusiast who has luckily turned her passion into profession. For the greens, she has an established foot in the personal finance sector and likes to put forth complex topics in an easy-to-understand manner, minus the jargons. Outside the penny lane, it’s all about poetry, mountains and single-malts.
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