Reserve Bank of India has introduced a system called ' National Electronic Funds Transfer System (NEFT)' through which funds transfer operation would take place among member Banks and financial institutions. Our bank is one of the participants in the above system. Electronic Funds Transfer System facilitate an efficient, Secure, economical, reliable and expeditious system of funds transfer
Fund Transfer through NEFT can be availed by the customers who maintain their operative accounts viz., Savings Bank, Current Account. This facility can also be allowed to CC / OD account etc., subject to ensuring end use of funds. Outward / Inward remittance facility under NEFT is offered to the customers of all the NEFT enabled branches.
Nainital Bank customer who is willing to transfer the funds will have to submit a request by filling up a form available in all NEFT Branches along with the Cheques/Debit instruction. The customer has to inform the beneficiaries Account Number, Name and IFSC code the Bank/ Branch where the funds are to be remitted. If they are to receive funds from others, they can inform the details like IFSC Code (of the branch of Nainital Bank where account is maintained), account number, etc to the sender
Benefits to Customers :
- NEFT transactions may be made for amounts inclusive of paisa component.
- There is no value limit for putting through an individual NEFT transaction.
- No physical loss or material changes while in transit
- Fully secured
- Better cash management
NEFT Shedule :
RBI NEFT transactions are settled in batches based on the following timings:
11 settlements on weekdays
||at 09:00, 10:00, 11:00, 12:00, 13:00, 14:00, 15:00, 16:00, 17:00, 18:00 and 19:00 hrs.
|5 settlements on Saturdays
|| at 09:00, 10:00, 11:00, 12:00 and 13:00 hrs.
* Please note that all the above timings are based on Indian Standard Time (IST) only
The messages sent before the above batch timings shall be included in the respective settlements otherwise they shall be included in the next batch/day
||Rates (Tax extra)
|Up to Rs.1,00,000
||Rs. 5 per transaction
|Above Rs.1 lac and upto 2 lac
||Rs.15 per transaction
|Above Rs. 2 lac
||Rs.25 per transaction
Click here for NEFT transaction