Bandhan Bank NEFT Charges and How to Transfer Money
Bandhan Bank NEFT Charges and How to Transfer Money
Bandhan Bank does not charge for NEFT transfers made through mBandhan or net banking. Branch-initiated NEFT transactions carry nominal fees as per RBI-prescribed rates based on the transfer amount.
Bandhan Bank NEFT Charges
- Online (mBandhan or net banking): Free
- Branch NEFT up to Rs. 10,000: Rs. 2.50 plus GST
- Branch NEFT Rs. 10,001 to Rs. 1 lakh: Rs. 5 plus GST
- Branch NEFT Rs. 1 lakh to Rs. 2 lakh: Rs. 15 plus GST
- Branch NEFT above Rs. 2 lakh: Rs. 25 plus GST
Verify current charges at the Bandhan Bank website or branch as fees are subject to revision.
NEFT Timings
NEFT in India operates 24×7 including weekends and public holidays as per RBI guidelines. Settlements happen in half-hourly batches, so a transfer can take between 30 minutes and 2 hours to credit.
How to Do NEFT via mBandhan
- Log in to mBandhan.
- Go to Fund Transfer and select NEFT.
- Add the beneficiary: name, account number, and IFSC code.
- Enter the transfer amount and an optional remarks.
- Verify with OTP and confirm the transfer.
- Save the transaction reference number for your records.
NEFT vs IMPS vs RTGS
- NEFT: Batch settlement, free online, any amount.
- IMPS: Instant, minor fee, 24×7.
- RTGS: Real-time, for amounts above Rs. 2 lakh.
FAQ
Is NEFT free in Bandhan Bank for online transfers?
Yes. NEFT transfers initiated through mBandhan or net banking are free of charge for Bandhan Bank customers.
How long does NEFT take from Bandhan Bank?
NEFT is settled in batches every 30 minutes. Most transfers credit within 30 minutes to 2 hours under normal conditions.
Can I do NEFT from Bandhan Bank on a Sunday?
Yes. RBI operates NEFT 24×7 including Sundays and public holidays. You can initiate a transfer anytime from mBandhan.
Key Takeaways
- Online NEFT via mBandhan is free.
- Branch NEFT charges range from Rs. 2.50 to Rs. 25 based on amount.
- NEFT operates 24×7 with half-hourly settlements.
- For instant transfers, use IMPS instead.
- RTGS is the right choice for amounts above Rs. 2 lakh.
