The details of the National Electronic Funds Transfer (NEFT) – service offered by UBI (Union Bank of India) are as follows:

National Electronic Funds Transfer (NEFT) NEFT is electronic funds transfer system, which facilitates transfer of funds to other bank accounts across the country.

It is a simple, secure, safe, fastest and cost effective way to transfer funds especially for Retail remittances.

Features & Benefits

One can send any amount using NEFT Customer intending to remit money through NEFT has to furnish the following particulars:

IFSC (Indian Financial System Code) of the beneficiary Bank/Branch
Full account number of the beneficiary
Name of the beneficiary

The facility is also available through online mode for all internet banking and mobile banking customers.
For corporate customers, bulk upload facility is also available at branches.

NEFT Charges:
1. For transaction amount up to Rs. 10,000 : Rs. 2.50 + taxes
2. For transaction amount above Rs. 10,000 & up to Rs. 1 Lac : Rs. 5.00 + taxes
3. For transaction amount above Rs. 1 Lac & up to Rs. 2 Lacs : Rs. 15.00 + taxes
4. For transaction amount more than Rs. 2 Lacs : Rs. 25.00 + taxes

Timings
One can use this facility between 8 AM and 06.30 PM on all weekdays and between 8 AM and 06:30 PM on Saturday (except 2nd & 4th Saturdays).

There are 12 hourly settlements between 8 AM and 7 PM on all weekdays and between 8 AM and 7 PM on Saturday (except 2nd & 4th Saturdays).