What is NEFT (National Electronic Funds Transfer)?

NEFT is an RBI-regulated electronic payment system that enables secure interbank fund transfers across India.

Key features of NEFT
- Available 24x7, 365 days a year.
- No minimum or maximum transfer limit (subject to bank policy).
- Transactions processed in batches (typically every 30 minutes).
- Requires beneficiary details — name, account number, IFSC code, and bank name.
How to use NEFT
1. Log in to net banking or mobile banking and select NEFT transfer.
2. Enter beneficiary details and amount.
3. Authenticate via OTP or net banking PIN.
Why choose NEFT?
- Ideal for small to medium-sized transactions.
- Often lower fees than some other modes.
- Regulated by the RBI.
Note: Rules and settlement timings can change; confirm with your bank for the latest limits and charges.

NEFT vs RTGS vs IMPS (summary)

Feature	NEFT	RTGS	IMPS
Settlement	Batch-wise	Real-time	Instant
Typical minimum	Low / no minimum	High (e.g. ₹2 lakhs)	Low
Best for	General transfers	High-value transfers	Urgent transfers

IFSC is 11 characters; MICR is 9 digits. Use NEFT/RTGS/IMPS with the correct IFSC; verify large transfers on the bank’s official site.

Guides on transfers, safety, and banking terms.

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