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NATIONAL ELECTRONIC FUND TRANSFER ( NEFT)

  • Credit to Beneficiary’s Account on the same day/next day if remittance done late in the day.
  • Safest and Secure Mode of Fund Transfer.
  • Lower Remittance Charges.
  • No Courier/ Postal Expenses as in case of Demand Draft etc.
  • Money can be put to use by beneficiary on the same day.
  • Through NEFT RAJBANK Customers can also receive remittance from their Customers Associates maintaining account with other bank. i.e. instead of receiving payments by way of cheque/ pay orders/ demand drafts etc., customers can receive funds though NEFT system.
ELIGIBILITY:
Customers of RAJBANK can send/ receive remittances under NEFT Scheme to/ from any destination Bank/ Branch which is registered with RBI’s NEFT System.

AMOUNT OF REMITTANCE :
There is no ceiling of minimum and maximum amount of remittance/ transaction.

CREDIT TO BENEFICIARY’S ACCOUNT:
Credit to the Beneficiary Account will be given by Beneficiary’s Bank’s Branch on the same day and in case of holiday/ after business hours, credit will be given on next business date.
 
WORKING OF THE SCHEME :
  • Submit the application form in a prescribed format to the branch in which you are maintaining account along with a cheque for transaction amount
  • Mention beneficiary Bank and Branch name with Indian Financial System Code (IFCS) and beneficiary’s Name, Account Type, Account Number and Amount to be remitted.
  • Message will be sent in electronic form in a highly secured manner through NEFT System to Beneficiary Bank’s Branch.
  • Credit to the Beneficiary Account will be given by Beneficiary’s Bank’s Branch on the same day and in case of holiday/ after business hours, credit will be given on next business date.
  • NEFT remittance upto Rs.0.50 lacs can be done in cash provided all stipulated guidelines for purchase of DD/ PO in cash are followed.
  • Nepalese citizens working in India may remit the funds to Nepal  through this system.
TIMINGS Weekdays Saturday
Cut Off Time: 8.45 AM to 4.45 PM 8.45 AM to 11.45 AM, For Customers
Settlement Timings: 9.00 AM, 11.00 AM, 12.00 PM
1.00 PM, 3.00 PM, 5.00 PM 		9.00AM, 11.00 AM, 12.00 PM.
SERVICE CHARGES :
 Inward remittance:      FREE
 
OUTWARD REMITTANCE :
Below Rs.1.00 lac                                :        Rs.5/- per transaction + Service tax.
Rs.1 lac & above                           :        Rs.25/- per transaction + Service tax.
Transaction payable outside India       :        Rs.50/- per transaction + Service tax.

However, in case the account holder maintains monthly average balance of Rs.0.50 lac and above per month, there will be no charges on NEFT transactions. Cash Handling charges, if any, will be recovered as per existing provisions.


Click here for NEFT FAQs
 
 
 
Click here for IFSC/MICR code

For further inquiry, please visit to our nearest branch.