NEFT Transfer
National Electronic Funds Transfer — timings, limits & charges
24×7
Available
₹1
Min Amount
FREE
Online Charge
30 min
Typical Time
| Full form | National Electronic Funds Transfer |
| Operated by | Reserve Bank of India (RBI) |
| Availability | 24×7×365 — including weekends & holidays |
| Settlement | Half-hourly batches (48 batches/day) |
| Minimum amount | ₹1 (no minimum) |
| Maximum amount | No RBI cap — banks may set own limits |
| Charges (online) | FREE — RBI mandate since Jan 2020 |
| Charges (branch) | ₹2–₹25 depending on bank & amount |
| Transfer time | 30 min – 2 hours (next batch) |
| Best for | Any amount, non-urgent transfers |
What you need to initiate a NEFT transfer
- → Beneficiary's account number
- → Beneficiary bank's IFSC code (11 characters)
- → Beneficiary's name
- → Transfer amount
NEFT vs RTGS vs IMPS vs UPI
FAQs
Is NEFT available on Sundays and bank holidays?
Yes. Since December 16, 2019, NEFT operates 24×7×365 — including Sundays, second and fourth Saturdays, and all bank and national holidays.
What happens if my NEFT transfer fails?
If an NEFT transfer fails (due to incorrect account number, closed account, etc.), the amount is typically returned to the sender's account within the same working day or the next working day. You should receive an SMS or email notification.
How many NEFT transactions can I do in a day?
The RBI has not set a cap on the number of NEFT transactions per day. Individual banks may impose their own daily count or value limits through their net banking platforms. Check your bank's terms for specific limits.
Can I cancel a NEFT transfer?
Once a NEFT transfer is submitted and queued for a batch, it cannot generally be cancelled. Contact your bank's customer care immediately if you need to attempt a cancellation — success depends on whether the batch has already been processed.