Leading lenders in country charge a certain amount per NEFT transaction.National Electronic Funds Transfer or NEFT is a nation-wide payment system that enables electronic transfer of funds.
Under NEFT scheme, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in country participating in scheme, according to Reserve Bank of India (RBI)'s website- rbi.org.in.
In NEFT, fund transactions are executed in half-hourly batches.
At present, most banks in country support NEFT payments.Major lenders in country such as state-run SBI (State Bank of India) and private sector peers HDFC Bank and ICICI Bank charge a certain amount from their customers per NEFT transaction, depending on mode of transaction - whether it is through online/mobile banking or through a bank branch - and amount of money.(Charges Levied By Banks For Immediate Payment Service)State Bank of India (SBI):SBI charges different fee from its customers for making NEFT transactions, depending upon whether transaction is made through online/mobile banking or by way of visiting a bank branch.
Here are NEFT charges levied by SBI as mentioned on bank's website - sbi.co.in:ItemTransaction SlabCharges (exclusive of Goods and Service Tax)Internet banking charges (exclusive of Goods and Service Tax)NEFTUp to Rs 10,000Rs 2.50Rs 1Up to Rs1 lakhRs 5.00Rs 2Above Rs 1 lakh to Rs 2 lakhRs 15.00Rs 3Above Rs 2 lakhRs 25.00Rs 5HDFC BankHDFC Bank currently charges no fee for NEFT transactions made online while lendercharges a fee for NEFT transfers done through a bank branch.
Here are NEFT charges levied by HDFC Bank as mentioned on bank's website - hdfcbank.com: