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.

Requirement :

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 Schedule :

RBI NEFT transactions are settled in batches based on the following timings:

Transaction type Timings
NEFT NEFT is now available 24*7, 365 days.
The settlement to beneficiary will be done as per RBI batches.

* 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

Charges :

Amount Slab Rates - per transaction (GST extra)
Up to Rs.10,000 Rs. 2.25 (+ Applicable GST)
Above Rs.10,000 up to Rs 1 lakh Rs. 4.75 (+ Applicable GST)
Above Rs. 1 lac and upto 2 lac Rs. 14.75 (+ Applicable GST)
Above Rs. 2 lac Rs. 24.75 (+ Applicable GST)