Tech Crunch Pro Tech Crunch Pro
  • How To
  • What Is
  • Technology
  • Telecom
  • Gadgets
  • Reviews
Tech Crunch Pro Tech Crunch Pro
Tech Crunch Pro Tech Crunch Pro
  • How To
  • What Is
  • Technology
  • Telecom
  • Gadgets
  • Reviews
Home Blog General Everything you need to know about NEFT
  • General

Everything you need to know about NEFT

  • March 14, 2022
  • tech crunch pro
Everything you need to know about NEFT
Total
0
Shares
0
0
0

NEFT, National Electronic Funds Transfer is a way to transfer funds where you can electronically transfer money from one bank account to another. Users can transfer funds to other bank account holders in India using NEFT. It allows individuals to transfer money from their bank account to any other bank account in India. It is available for amounts as low as Rs 1 and there is no cap on the maximum number of transactions.

The main advantage of NEFT is that it provides instant and quick transfer of funds as compared to traditional methods like cheques or Demand Drafts (DDs). Moreover, it is a very safe and secure way to send money through net banking. In addition, there is no need to carry cash while making payments through NEFT.

Table of Contents

  • Can you use NEFT anytime?
  • Is there a transaction limit in NEFT?
  • Are there any additional charges on NEFT?
  • How to transfer money via NEFT?
  • What are the benefits of NEFT?

Can you use NEFT anytime?

Initially, your fund transfer could get an clearance only in the following two timeslots:

  • Monday to Friday (Weekdays): Between 8am and 7 Pm
  • Saturday (not Sundays): 8 am to 12PM

However, in December 2019, RBI made NEFT payments to be available for all days of the week and any time of the day. This move by RBI was primarily motivated by a desire to promote digital transactions in India and to allow global integration of the Indian and the international markets

So no users can use NEFT any time. Each time a request is initiated, the request is queued and an entire queue is cleared every hour.

Is there a transaction limit in NEFT?

There are no minimum or maximum transaction limits with NEFT. You can start transferring from Re1 and send as much as you need to. However, few banks do have their daily transaction limits. So you might want to check with your bank before you start transacting the heavy amounts.

Are there any additional charges on NEFT?

While there are no receiving charges there are outward charges applicable depending on the transfer amount

How to transfer money via NEFT?

 Step1: Visit your bank home page and login into your account

Step2: On the home screen, the select Fund transfer option

Step 3: On the fund transfer page select the NEFT option instead of IMPS

Step 4: From the list of beneficiaries select the person to transfer the money

Step 5: You can also add a new beneficiary by selecting the Add beneficiary option and entering the following details:

  • Account number
  • Name
  • IFSC
  • Branch name
  • Type of account

Step 6: Then select the confirm button

Step 7: After that enter the 4 digit OTP number that you receive on your registered mobile number

What are the benefits of NEFT?

Some of the most crucial benefits of NEFT include:

  1. The platform is very secure hence you don’t need to worry about your accounts security or for the security of your money
  2. It has lessened the dependence on demand draft and a cheque for transferring money
  3. You can initiate fund transfer online from the comfort of your home
  4. It can be used for transfer varying amounts of funds economically since there are no additional charges applicable
  5. You can use NEFT to pay for everything from challan 280 to buying shoes online. Hence it is one fix for many different types of problems.

 

Review Everything you need to know about NEFT. Cancel reply

Your email address will not be published. Required fields are marked *

Total
0
Shares
Share 0
Tweet 0
Pin it 0
tech crunch pro

Previous Article
React JS vs Node JS_ What is the Difference_ (1)
  • Technology

React JS vs Node JS: What is the Difference?

  • March 10, 2022
  • tech crunch pro
View Post
Next Article
How To Play RNG Games_ A Complete Guide
  • Others

How To Play RNG Games: A Complete Guide

  • March 21, 2022
  • tech crunch pro
View Post
You May Also Like
Futures Market Making
View Post
  • General

Futures Market Making

  • tech crunch pro
  • January 7, 2023
Esports
View Post
  • General

6 Things to Consider Before Going Pro in Esports

  • tech crunch pro
  • January 2, 2023
How Project Management Apps Help Freelancers Manage Their Work
View Post
  • General

How Project Management Apps Help Freelancers Manage Their Work

  • tech crunch pro
  • October 10, 2022
Steps to creating an IT manager resume
View Post
  • General

Steps to creating an IT manager resume

  • tech crunch pro
  • September 26, 2022
Use Design Thinking to Solve Your Toughest Marketing Challenges
View Post
  • General

Use Design Thinking to Solve Your Toughest Marketing Challenges

  • tech crunch pro
  • September 20, 2022
Your Beginner’s Guide To Live Streaming Local Sporting Events Like A Professional
View Post
  • General

Your Beginner’s Guide To Live Streaming Local Sporting Events Like A Professional

  • tech crunch pro
  • August 25, 2022
Surprising Reasons Why Actuarial Consulting Firms Under-Perform
View Post
  • General

Surprising Reasons Why Actuarial Consulting Firms Under-Perform

  • tech crunch pro
  • August 3, 2022
3 Reasons Why E-Waste is Harmful to the Environment
View Post
  • General

3 Reasons Why E-Waste is Harmful to the Environment

  • tech crunch pro
  • July 20, 2022
Popular Post
  • swyft Swyft SeriescrooktechCrunch, a company that recently raised $17.5 million in a Series A round of funding, assists businesses of all sizes
    • Tech Crunch Pro

    Uncovering the Innovations behind the Swyft Series and CrookTech

      • Tech Crunch Pro
    View Post
  • How to Use Product Videos for Ecommerce
    • Business

    How to Use Product Videos for Ecommerce

      • Business
    View Post
  • Futures Market Making
    • General

    Futures Market Making

      • General
    View Post
  • Choosing a Blockchain PR Agency
    • Others

    Choosing a Blockchain PR Agency

      • Others
    View Post
  • Using KuCoin Bots to Earn Passive Income
    • Others

    Using KuCoin Bots to Earn Passive Income

      • Others
    View Post
Recent Post
  • swyft Swyft SeriescrooktechCrunch, a company that recently raised $17.5 million in a Series A round of funding, assists businesses of all sizes
    • Tech Crunch Pro
    Uncovering the Innovations behind the Swyft Series and CrookTech
  • How to Use Product Videos for Ecommerce
    • Business
    How to Use Product Videos for Ecommerce
  • Futures Market Making
    • General
    Futures Market Making
  • Choosing a Blockchain PR Agency
    • Others
    Choosing a Blockchain PR Agency
  • Using KuCoin Bots to Earn Passive Income
    • Others
    Using KuCoin Bots to Earn Passive Income
  • Esports
    • General
    6 Things to Consider Before Going Pro in Esports
  • 4 Great Places to Buy Bitcoin
    • Others
    4 Great Places to Buy Bitcoin
  • 4 Pieces of Information Businesses Should Include In Their Reminder Calls
    • Business
    4 Pieces of Information Businesses Should Include In Their Reminder Calls
  • Ways Your Company Can Switch to Remote Working
    • Technology
    Ways Your Company Can Switch to Remote Working
  • TOP Website with Special Features
    • Others
    TOP Website with Special Features
Recent Post
  • swyft Swyft SeriescrooktechCrunch, a company that recently raised $17.5 million in a Series A round of funding, assists businesses of all sizes
    • Tech Crunch Pro

    Uncovering the Innovations behind the Swyft Series and CrookTech

      • Tech Crunch Pro
    View Post
  • How to Use Product Videos for Ecommerce
    • Business

    How to Use Product Videos for Ecommerce

      • Business
    View Post
  • Futures Market Making
    • General

    Futures Market Making

      • General
    View Post
  • Choosing a Blockchain PR Agency
    • Others

    Choosing a Blockchain PR Agency

      • Others
    View Post
  • Using KuCoin Bots to Earn Passive Income
    • Others

    Using KuCoin Bots to Earn Passive Income

      • Others
    View Post
Popular Post
  • swyft Swyft SeriescrooktechCrunch, a company that recently raised $17.5 million in a Series A round of funding, assists businesses of all sizes
    • Tech Crunch Pro
    Uncovering the Innovations behind the Swyft Series and CrookTech
  • How to Use Product Videos for Ecommerce
    • Business
    How to Use Product Videos for Ecommerce
  • Futures Market Making
    • General
    Futures Market Making
  • Choosing a Blockchain PR Agency
    • Others
    Choosing a Blockchain PR Agency
About Us

Hey! We are glad that you are interested to know about us.

Techcrunchpro.com is one of the top-notch information blogs and online tech blog. The main objective of our website is to support the viewers with effective and interesting content. We are a team of enthusiastic tech-savvy professionals strive to make resourceful online platform about tech and digital world.

Tech Crunch Pro Tech Crunch Pro
  • About Us
  • Blog
  • Write For Us
  • Contact Us
  • Privacy Policy

Input your search keywords and press Enter.