IndusInd Bank NEFT Charges: Fees and Transfer Limits
IndusInd Bank NEFT Charges: Fees and Transfer Limits
IndusInd Bank currently does not charge any fee for NEFT transactions done through net banking or the IndusMobile app. NEFT transfers initiated at the branch attract a nominal fee based on the transaction amount.
What Is NEFT?
NEFT (National Electronic Funds Transfer) is an RBI-regulated system for transferring money between bank accounts across India. Transfers are processed in half-hourly batches, available 24 hours a day, 7 days a week.
NEFT Charges at IndusInd Bank
Online (Net Banking and IndusMobile App)
No charges apply for NEFT transfers done through IndusInd Bank’s net banking or IndusMobile app. The RBI directed banks to waive online NEFT charges to promote digital payments.
Branch NEFT Charges
| Transaction Amount | Fee (Plus GST) |
|---|---|
| Up to Rs. 10,000 | Rs. 2.50 |
| Rs. 10,001 to Rs. 1 lakh | Rs. 5 |
| Rs. 1 lakh to Rs. 2 lakh | Rs. 15 |
| Above Rs. 2 lakh | Rs. 25 |
These are standard RBI-prescribed maximum charges. GST at 18% applies additionally.
NEFT Transfer Limits
- Minimum NEFT amount: Re. 1
- Maximum per transaction: No upper cap set by RBI, but IndusInd Bank may apply internal daily limits based on your account type.
- Check your specific limit in the IndusMobile app under Transfer Limits.
How to Do a NEFT Transfer Online
- Log in to net banking or the IndusMobile app.
- Go to Fund Transfer and select NEFT.
- Add the beneficiary with their IFSC code and account number.
- Enter the amount and confirm with OTP.
FAQ
Is NEFT available 24×7 at IndusInd Bank?
Yes. NEFT transfers can be initiated at any time online. Processing happens in half-hourly batches throughout the day and night, including weekends and holidays.
How long does a NEFT transfer take?
NEFT transfers are typically processed within 30 minutes to 2 hours, depending on the batch cycle. Most transfers settle the same day if initiated before midnight.
Can I do NEFT transfers without adding a beneficiary first?
IndusInd Bank requires beneficiary addition and a cooling period (usually 30 minutes to 24 hours for new beneficiaries) before NEFT transfers can be initiated online, as a security measure.
Key Takeaways
- NEFT via net banking and IndusMobile app is free.
- Branch NEFT charges range from Rs. 2.50 to Rs. 25 plus GST.
- NEFT is available 24×7 with half-hourly settlement batches.
- For queries, call 1860-500-5004.
