Check NEFT charges or fee applicable on online transaction

by Admin

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Posted on Jul 25, 2020

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National Electronic Fund Transfer (NEFT) is a widely used and secure method to transfer funds. RBI charges a very small amount on NEFT transaction. As it is the easiest electronic payment method and save our time in visiting banks for transactions and it also notifies remitter via SMS/Email on transactions.

NEFT charges are as below

• Inward transactions at destination bank branches (for credit to beneficiary accounts): —free of cost, no charges for beneficiaries 
• Outward transactions at originating bank branches - transaction charges applicable to remitter are: 

Transfer Amount	Transaction Charges
Up to Rs.10,000	Rs.2.5 + GST
Rs.10,000-Rs.1 lakh	Rs.5 + GST
Rs.1 lakh-Rs.2 lakh	Rs.15 + GST
Above Rs.2 lakh	Rs.25 + GST