KVB NEFT Charges, Limits, and Transfer Timings
KVB NEFT Charges, Limits, and Transfer Timings
Karur Vysya Bank does not charge any fee for NEFT transfers initiated through KVB net banking or the KVB DLite app. Branch-initiated NEFT transfers may carry a nominal charge based on the transaction amount.
KVB NEFT Charges
As per RBI guidelines effective from January 2020, banks cannot charge customers for online NEFT transactions. KVB follows this mandate.
- Online NEFT (net banking / KVB DLite): Free of charge
- Branch NEFT (up to Rs. 10,000): Rs. 2 to Rs. 5 + GST
- Branch NEFT (Rs. 10,001 to Rs. 1 lakh): Rs. 5 to Rs. 15 + GST
- Branch NEFT (Rs. 1 lakh to Rs. 2 lakh): Rs. 15 to Rs. 25 + GST
- Branch NEFT (above Rs. 2 lakh): Rs. 25 + GST
Exact branch charges may vary; confirm with your KVB branch before initiating.
KVB NEFT Transfer Timings
NEFT now operates on a 24×7 basis including weekends and bank holidays, following the RBI’s directive from December 2019. Funds are typically settled in batches every 30 minutes.
- Settlement in half-hourly batches throughout the day and night
- Credit to beneficiary usually within 2 hours of initiation
- No blackout period anymore under the 24×7 NEFT system
KVB NEFT Transaction Limits
- Minimum transfer amount: Rs. 1
- Maximum per transaction: No upper limit set by RBI (bank-level limits may apply)
- KVB net banking may have daily cumulative limits depending on your account type
How to Transfer via NEFT on KVB Net Banking
- Log in to KVB net banking
- Go to Fund Transfer and select NEFT
- Add beneficiary with IFSC code and account number
- Enter transfer amount and confirm with OTP
- Save the transaction reference number
Frequently Asked Questions
Is NEFT free in KVB net banking?
Yes. As per RBI guidelines, KVB does not charge for NEFT transfers made through net banking or KVB DLite app.
How long does KVB NEFT take?
NEFT credit typically happens within 30 minutes to 2 hours since NEFT now operates in 24×7 half-hourly batches.
What is the NEFT IFSC code for KVB?
Each KVB branch has its own IFSC code. You can find your branch’s IFSC code on your cheque book, passbook, or at kvb.co.in.
Key Takeaways
- Online KVB NEFT transfers are free as per RBI mandate
- Branch NEFT carries a nominal charge based on amount
- NEFT operates 24×7 with settlements every 30 minutes
- Credit to beneficiary typically within 30 minutes to 2 hours
- No minimum or maximum limit set by RBI for NEFT
