Utkarsh SFB NEFT Charges: Transfer Fees and Limits Explained
Utkarsh SFB NEFT Charges: What You Need to Know
Utkarsh Small Finance Bank follows RBI guidelines and charges zero fees for NEFT transactions initiated online through net banking or the Utkarsh Mobile Banking app. If you initiate NEFT at a branch, a small service charge applies. There is no minimum NEFT amount, and settlements happen in hourly batches throughout the day.
NEFT Charges at Utkarsh SFB
| Transfer Amount | Online (App/Net Banking) | Branch Initiated |
|---|---|---|
| Up to Rs. 10,000 | Free | Rs. 2.50 + GST |
| Rs. 10,001 to Rs. 1 lakh | Free | Rs. 5 + GST |
| Rs. 1 lakh to Rs. 2 lakh | Free | Rs. 15 + GST |
| Above Rs. 2 lakh | Free | Rs. 25 + GST |
These charges align with RBI-prescribed maximums. Verify the current fee schedule at your branch or through customer care, as charges may be revised.
NEFT vs. IMPS vs. RTGS at Utkarsh SFB
- NEFT: Batch processing (every hour), free online, no minimum amount limit. Works 24/7 since December 2019.
- IMPS: Instant transfer, available 24/7, small charge may apply for higher amounts.
- RTGS: Real-time, for amounts above Rs. 2 lakh, free online.
How to Do NEFT via Utkarsh Mobile Banking App
- Log in to the Utkarsh Mobile Banking app.
- Go to Fund Transfer and select NEFT.
- Add the beneficiary with their account number and IFSC code.
- Enter the amount and confirm with your MPIN or OTP.
- The transfer is processed in the next NEFT settlement batch.
Key Takeaways
- NEFT online at Utkarsh SFB is completely free of charge.
- Branch NEFT charges range from Rs. 2.50 to Rs. 25 per transaction, plus GST.
- NEFT works 24/7 including Sundays and holidays.
- There is no minimum amount for NEFT transfers.
- For large urgent transfers above Rs. 2 lakh, use RTGS instead.
Frequently Asked Questions
Is NEFT free at Utkarsh SFB through mobile banking?
Yes, NEFT initiated through the Utkarsh Mobile Banking app or net banking is free, in line with RBI’s directive to waive customer charges for online NEFT.
What are the NEFT timings at Utkarsh SFB?
NEFT is available 24 hours a day, 7 days a week, including Sundays and public holidays. Settlements happen in hourly batches.
What is the maximum amount I can transfer via NEFT at Utkarsh SFB?
There is no maximum limit for NEFT. However, for very large transfers, RTGS is often faster as it settles in real time.
How long does NEFT take to reach the beneficiary?
NEFT transactions are settled in hourly batches, so it can take up to 2 hours for the amount to be credited, depending on when you initiate the transfer.
