NEFT (National Electronic Funds Transfer) is one of the most used ways to send money between bank accounts in India. The good news? Most banks do not charge NEFT fees for online transfers.
Quick Summary
- Online NEFT (Net/Mobile Banking): Usually FREE
- Branch NEFT: Charges may apply
- Minimum amount: No minimum limit
- Maximum limit: Bank-dependent
- Availability: 24×7 (as per RBI)
NEFT Charges – Online vs Branch
Online NEFT Charges (Net Banking / Mobile App)
- ₹0 charges in most banks
- Applies to:
- Savings accounts
- Current accounts
- Retail customers
RBI allows banks to charge fees, but most banks have waived online NEFT charges.
NEFT Charges at Branch (Physical Form)
When you submit an NEFT form at the bank branch, charges may apply.
Typical Branch NEFT Charges
| Transfer Amount | Charges (Approx.) |
|---|---|
| Up to ₹10,000 | ₹2.50 – ₹5 |
| ₹10,001 – ₹1 lakh | ₹5 – ₹10 |
| ₹1 lakh – ₹2 lakh | ₹15 – ₹25 |
| Above ₹2 lakh | ₹25 – ₹50 |
Charges may vary by bank and account type.
NEFT Charges for Popular Banks (Indicative)
| Bank | Online NEFT | Branch NEFT |
|---|---|---|
| SBI | Free | Chargeable |
| HDFC Bank | Free | Chargeable |
| ICICI Bank | Free | Chargeable |
| Axis Bank | Free | Chargeable |
| PNB | Free | Chargeable |
| Bank of Baroda | Free | Chargeable |
Online NEFT is almost always the cheapest option.
Are There Any Hidden NEFT Charges?
- No GST on NEFT amount
- Charges (if any) are flat service fees, not percentage-based
- Beneficiary usually does not pay charges
NEFT vs IMPS vs RTGS (Charges Comparison)
| Method | Charges | Best For |
|---|---|---|
| NEFT | Free (online) | Normal transfers |
| IMPS | ₹2.5 – ₹25 (bank-wise) | Instant transfers |
| RTGS | Free (online, many banks) | High-value transfers (₹2L+) |
FAQs – NEFT Charges
Q1. Is NEFT free in 2026?
A. Yes, online NEFT is free in most Indian banks.
Q2. Do I have to pay charges every time?
A. Only if you use branch-based NEFT. Online transfers are usually free.
Q3. Is there GST on NEFT charges?
A. GST may apply only on the service fee, if charged by the bank.
Q4. Can banks change NEFT charges?
A. Yes. Banks may revise fees, but online NEFT is expected to remain free.
Tips to Avoid NEFT Charges
- Always use mobile or net banking
- Avoid branch visits for fund transfers
- Check your bank’s service charges page in the app
Conclusion
In 2026, NEFT is one of the most cost-effective ways to transfer money, especially when done online—where it’s usually completely free. Branch NEFT may attract small charges, so digital banking is the smarter choice.
