National Electronic Funds Transfer (NEFT) system is an electronic funds transfer system introduced by Reserve Bank of India to facilitate banks to transfer funds electronically from one customer account of a NEFT participant bank branch to another customer account of any other NEFT participant bank branch in India

It is an efficient, secure, economical, reliable and expeditious manner.

Currently there are six settlement batches daily in NEFT.

Customers of all branches of South Indian Bank can avail NEFT services for transferring funds to accounts of other banks; provided those bank branches are also NEFT enabled.

NEFT Timing-

Days Customer Transactions

Monday - Saturday 8:00 am to 6:50 pm

*Second and Fourth Saturdays will be holiday from Sept 1st 2015

Operational Timings provided is that of RBI.

Transactions at the branch level depends on individual branch business hours

Charges

NEFT - Payments

Up to Rs 10000 :Rs.2.50/-per transaction
Less than Rs 1 lakh : Rs.5/- per transaction
Rs 1 lakh to less than Rs 2 lakh : Rs.15/- per transaction
Rs 2 lakh and above : Rs .25/- per transaction

NEFT receipts: NIL

Contact-

South Indian Bank Ltd.
Head Office
T.B Road, Mission Quarters, Thrissur 680 001,Kerala, India
Telephone Nos : +91-487-2420020, 2420058, 2420113
Email: sibcorporate@sib.co.in