67 Views
What are the NEFT Charges?
The National Electronics Funds Transfer (NEFT) has transformed the Indian payments mechanism completely. Its pan-India reach and accessibility over both online and offline channels has contributed to its convenience. Moreover, the fact that NEFT transactions are managed and operated by the Reserve Bank of India (RBI) makes the system extremely safe and secure for carrying out fund transfers. Savings account holders who initiate NEFT transactions via online channels, debit card, or credit card payments via offline channels can attract certain charges. However, these charges may vary depending on the bank.
Do note, there are no NEFT charges levied on receiving funds via NEFT.
ON THIS PAGE: NEFT Charges of Top Banks | FAQs
NEFT Transfer Charges Levied by Top Banks
The NEFT money transfer charges for some of the top banks are mentioned below:
HDFC Bank NEFT Charges
Transaction Type |
Amount |
NEFT Transaction Charges |
NEFT Tax Charges |
Online NEFT Transactions |
No Limit |
No online NEFT charges |
Nil |
NEFT transactions at branches |
Up to ₹1,00,000 |
₹2 |
Applicable NEFT GST charges |
Above ₹1,00,000 |
₹10 |
Applicable NEFT GST charges |
State Bank of India (SBI) NEFT Charges
Transaction Type |
Amount |
NEFT Fees |
Other NEFT Payment Charges |
Online NEFT Transactions |
No Limit |
No NEFT charges for online payment |
Nil |
NEFT transactions at branches |
Less than or equal to ₹10,000 |
₹2 |
Applicable GST charges on NEFT |
₹10,001 to ₹1,00,000 |
₹4 |
Applicable GST charges on NEFT |
|
₹1,00,001 to ₹2,00,000 |
₹12 |
Applicable GST charges on NEFT |
|
Greater than ₹2,00,000 |
₹20 |
Applicable GST charges on NEFT |
ICICI Bank NEFT Charges
Transaction |
Charges |
Up to ₹10,000 |
₹2.25 + GST |
Above ₹10,000 and upto ₹1 lakh |
₹4.75 + GST |
Above ₹1 lakh and upto ₹2 lakh |
₹14.75 + GST |
Above ₹2 lakh and upto ₹10 lakh |
₹24.75 + GST |
Punjab National Bank (PNB) NEFT Charges
Inward Transaction |
Free |
|
Outward Transaction |
||
Transaction Value |
From Branch |
From IBS/MBS |
Upto ₹10,000 |
₹2 + GST |
NIL |
Above ₹10,000 - ₹1 lakh |
₹4 + GST |
|
Above ₹1 lakh - ₹2 lakh |
₹12 + GST |
|
Above ₹2 lakh |
₹20 + GST |
|
Canara Bank NEFT Charges
Online Transactions by Savings Account Holder |
NIL |
Offline Transactions made at Branch |
|
Up to ₹10,000 |
₹2.25 |
₹10,001 and up to ₹1 Lakh |
₹4.75 |
Above ₹1 Lakh and up to ₹2 Lakh |
₹14.75 |
Above ₹2 Lakh |
₹24.75 |
RBL Bank NEFT Charges
Amount |
NEFT Charges |
Upto ₹10,000 |
₹2.50 + GST |
₹10,000 to ₹1 Lakh |
₹5 + GST |
₹1 Lakh to ₹2 Lakh |
₹15 + GST |
₹2 Lakh to ₹5 Lakh |
₹25 + GST
|
₹5 Lakh to ₹10 Lakh |
₹25 + GST
|
Bank of Baroda NEFT Charges
Amount |
NEFT Charges |
Upto ₹10,000 |
₹2.50 |
Upto ₹1 Lakh |
₹5 |
₹1 Lakh-₹2 Lakh |
₹15 |
₹2 Lakh and above |
₹25 |
IndusInd Bank NEFT Charges
Inward NEFT Transfer |
Free |
Outward Charges |
|
Upto ₹10,000 |
₹2.50 |
Upto ₹1 Lakh |
₹5 |
₹1 Lakh to ₹2 Lakh |
₹15 |
₹2 Lakh to ₹5 Lakh |
₹25 |
Above ₹5 Lakh |
₹50 |
Kotak Bank NEFT Charges
Savings Account |
Current Account |
||||
Inward |
Free |
Inward |
Free |
||
Outward (Through Mobile Banking) |
Free |
Outward (Through Mobile Banking) |
Free |
||
Outward (Through Branch) |
Upto ₹10,000 |
₹2.50 |
Outward (Through Branch) |
Upto ₹1 Lakh |
₹5 |
₹10,001 to ₹1 Lakh |
₹5 |
Above ₹1 Lakh |
₹25 |
||
₹1 Lakh to ₹2 Lakh |
₹15 |
- |
- |
||
Above ₹2 Lakh |
₹25 |
- |
- |
||
South Indian Bank NEFT Charges
|
Branch Level |
Mobile/ Internet Banking [For SB Accounts ONLY] |
Mobile/ Internet Banking [For all other Accounts |
Upto ₹10,000 |
₹2 |
Nil |
₹1.25 |
₹10,000 to ₹1 Lakh |
₹4 |
Nil |
₹2.50 |
₹1 Lakh to ₹2 Lakh |
₹14 |
Nil |
₹7.50 |
Above ₹2 Lakh |
₹22 |
Nil |
₹12.50 |
More About Payments & Other Credit Cards |
||||
- Credit Card
- Credit Card Customer Care
- Credit Card Payment
- Credit Card Net Banking
- Credit Card Application Status
- Credit Card Statement
- Credit Card Features & Benefits
- Credit Card Interest Rate
- Credit Card Pin Generation
- Credit Card Limit
- Credit Card Offers
- Credit Card Eligibility
- Credit Card Documents
- Credit Card Lost
- Credit Card EMI
- Credit Card Loan
- Credit Card CVV
- Credit Card Annual Rate
- Credit Card against FD
- Credit Card Address Change
- Credit Card Reward Points
- Credit Card Balance Transfer
- Lifetime Free Credit Card
- Credit Card Validity/Expiry
- Credit Card Fraud
- Credit Card Insurance
- GST on Credit Card
- RBL Bank Credit Card
- SBI Credit Card
- Axis Bank Credit Card
- ICICI Bank Credit Card
- Citibank Credit Card
- Credit Card Types
- Visa Credit Card
- Mastercard Credit Card
- Visa vs Mastercard Credit Card
- Fuel Credit Card
- Business Credit Card
- Rupay Credit Card
- Shopping Credit Card
- Travel Credit Card
- Secured Credit Card
- Virtual Credit Card
- Cashback Card
- Prepaid Credit Card
- CA Credit Card
- International Credit Card
- Corporate Credit Card
- Credit Card VS Debit Card
- Axis Bank Indian Oil Credit Card
- Axis Bank My Zone Credit Card
- Axis Bank Neo Credit Card
- Axis Flipkart Credit Card
- Axis Select Credit Card
- ICICI Coral Credit Card
- ICICI MMT Platinum Credit Card
- ICICI MMT Signature Credit Card
- ICICI Platinum Credit Card
- RBL Platinum Choice Supercard
- RBL Platinum Plus FYF Supercard
- RBL Platinum Plus Supercard
- RBL Shoprite Supercard
- RBL World Plus Supercard
- SBI BPCL Credit Card
- SBI BPCL Octane Credit Card
- SBI Elite Credit Card
- SBI Prime Credit Card
- SimplyClick SBI Credit Card
- Simplysave SBI Credit Card
- Citi Cash Back Credit Card
- Citi Premiermiles Credit Card
- Citi Rewards Credit Card
- Citi IndianOil Credit Card
- Bank Of Baroda Credit Card
- HSBC Credit Card
- Kotak Credit Card
- IDFC Credit Card
- IndusInd Credit Card
- SIB Credit Card
- Standard Chartered Credit Card
- PNB Credit Card
- Canara Credit Card
- HDFC Credit Card
- American Express Credit Card
- Yes Bank Credit Card
- Union Bank Credit Card
- LIC Credit Card
- Indian Bank Credit Card
- SBI Credit Card Customer Care
- SBI Credit Card Login
- Axis Bank Credit Card Customer Care
- Axis Bank Credit Card Payment
- Citibank Credit Card Customer Care
- Citi Credit Card Net Banking Login
- RBL Credit Card Customer Care
- RBL Bank Credit Card Payment
- ICICI Credit Card Customer Care
- ICICI Credit Card Payment
- Student Credit Card
- Bihar Student Credit Card
- West Bengal Student Credit Card
- Kisan Credit Card
- KYC
- What is IMPS?
- What is NEFT?
- What is RTGS?
- NEFT VS IMPS VS RTGS
- Petrol Price in India
- Pay Slips
- Form 16
- Nach Mandate
- OTP
- ACH Mandate
- ECS Mandate
- ATM Card
- Gaming Laptop Under 20000
- Gaming Laptop Under 30000
- Gaming Laptop Under 50000
- Gaming Laptop Under 60000
- Gaming Laptop Under 40000
- Gaming Laptop Under 70000
- Gaming Laptop Under 80000
- Add Credit Card to GPay
- Add Money from Credit Card to Paytm
- SMS Banking
- Mobile Banking
- Kisan Credit Card Helpline Number
- KCC Interest Rate
- IMPS Charges
- IMPS Limit
- NEFT Limit
- RTGS Charges
- RTGS Limit
- ATM Pin
- How to Use ATM Card?
- How to Withdraw Cash from ATM?
- NACH Cancellation
- KYC Status
- KYC in Banking
- Download Form 16
- How to fill Form 16
- ACH Mandate Charges
- ACH Registration
- ECS Mandate Form
- SBI Mobile Banking
- Axis Mobile Banking
- RBL Mobile Banking
- Citibank Mobile Banking
- SBI SMS Banking
- Axis SMS Banking
- Citibank SMS Banking
- RBL SMS Banking
- Pay Credit Card Bill with Gpay
- Pay Credit Card Bill with Paytm
FAQs on NEFT Charges
-
✔️What are the charges on NEFT?
The NEFT fund transfer charges vary from bank to bank. While most banks do not impose NEFT service charges for online transactions, you may be charged a fee for initiating NEFT transactions offline from bank’s branches.
-
✔️How are NEFT charges calculated?
The NEFT rates vary based on the amount you transfer; the fees would include the applicable GST charges too.
-
✔️Can NEFT charges be waived off?
As per the Reserve Bank of India notification, NEFT charges are waived off for savings account holders who initiate NEFT transactions via online channels.
