AU Small Finance Bank NEFT Charges and Transfer Guide
AU Small Finance Bank NEFT Charges and Transfer Guide
AU Small Finance Bank does not charge for NEFT transfers made through net banking or the AU 0101 app. Branch-initiated NEFT transfers may carry small charges per RBI-prescribed slabs.
NEFT Charges
- Via AU 0101 app or net banking: Free
- Via branch: Rs 2 to Rs 25 depending on the transfer amount (RBI slab structure)
RBI removed charges on online NEFT in 2019. AU SFB passes this benefit to customers for digital transactions.
NEFT Transaction Limits
- Minimum: Rs 1
- Maximum: No upper cap from RBI; the bank may set daily limits per account type.
How to Transfer via NEFT on AU 0101 App
- Log in to the AU 0101 app.
- Tap Transfer and select NEFT.
- Add the beneficiary (account number, IFSC, name).
- Enter the amount and authenticate with MPIN or OTP.
- The transfer is queued for the next NEFT batch.
NEFT Timing and Settlement
NEFT runs in hourly batches 24×7, including Sundays and holidays (since December 2019). A transfer initiated at 3:45 PM will be processed in the 4 PM batch, and the beneficiary receives the amount within 30 to 60 minutes.
Key Takeaways
- Free NEFT via the AU 0101 app and net banking.
- Branch NEFT carries RBI-slab charges.
- NEFT operates in hourly batches 24×7.
- No maximum limit set by RBI, but daily bank limits may apply.
FAQ
What is the difference between NEFT and IMPS for AU SFB transfers?
NEFT processes in hourly batches while IMPS is real-time. For transfers under Rs 5 lakh where speed matters, use IMPS. For larger transfers where immediate credit is not critical, NEFT is a good option.
Can I do NEFT from AU SFB to any bank in India?
Yes. NEFT connects all RBI member banks in India. You can transfer to any bank account with a valid IFSC code.
Is there a charge for adding a new beneficiary for NEFT?
No. Adding a beneficiary is free. There may be a cooling period (typically 30 minutes to 4 hours) before a newly added beneficiary is activated for transfers.
