State Bank of Bikaner and Jaipur has now been merged with State bank of India along with the other associate banks of SBI from 1st April 2017.

So now there is only one business entity which stands which is State Bank of India and so the information now pertains to SBI.

NEFT remains for National Electronic Funds Transfer. Assets are exchanged to the acknowledge represent the other taking an interest Bank utilizing RBI's NEFT benefit.

NEFT is another electronic installment framework in which installment guidelines between banks are prepared and settled on conceded net settlement (DNS) premise at settled circumstances amid the day. There is no base or most extreme stipulated exchange an incentive for utilizing this office.

Note :RTGS and NEFT frameworks deal with all days aside from on Sundays and regular National Holidays over the states.

Information required for exchange of Funds

Amount to be remitted
Account no. to be debited
Name of the beneficiary bank
Name of the beneficiary customer
Account no. of the beneficiary customer
Sender to receiver information, if any
IFSC code of the receiving branch.(IFSC Code is printed on cheque leaves.)

What is the base/greatest sum for NEFT exchanges?

Sort

Least

Most extreme

NEFT

No Restriction

No Restriction

At the point when does the recipient get the acknowledgment for a NEFT installment?

NEFT works in hourly bunches. At present there are twelve settlements from 8 am to 7 pm on week days and five settlements from 8 am to 1 pm on Saturdays. In this way, the recipient can hope to get the acknowledgment for the exchanges put through between 8 am to 5 pm on weekdays (between 8 am to 1 pm on Saturdays) around the same time. For exchanges settled in the 6 and 7 pm clusters on week days and at 1 pm on Saturday, the credit will be managed either around the same time or on the following working day.

At what time amid the day/week is the NEFT benefit is accessible?

NEFT exchanges will be sent to RBI in view of the accompanying timetable:

RBI settlement Timings

Day Start Time End Time

Monday to Friday

08:00 hrs

19:00 hrs

Saturday

08:00 hrs

01:00 hrs

NEFT exchanges are settled in clumps in light of the accompanying timings:

Settlements on weekdays at hourly interims from 08:00 hrs to 19:00 hrs.

Settlements on Saturdays at hourly interims from 08:00 hrs to 01:00 hrs.

NEFT Application Form



NEFT Charges

Charges per Transaction for Outward Transactions

Upto Rs 10,000
Rs. 2.50/- + ST

Above Rs 10,000 Up to Rs 1.00 lakh
Rs. 5/- + ST

Above Rs 1.00 lakhs upto Rs 2.00 lakhs
Rs. 15/- + ST

Above Rs 2.00 lakhs
Rs. 25/- + ST