RBI fixes up the NEFT -Transfer of fund charges by Banks


The Reserve Bank of India has rationalised and finalized charges that banks can levy on customers for transfer of funds through National Electronic Funds Transfer (NEFT) w.e.f. Aug2012.
For transfer of funds, banks can levy maximum of
Rs.2.50 for amount upto Rs.10000.
Rs.5.00 for amount upto Rs. 1,00,000.
Rs.15.00 for amount between Rs. one lakh to 2 lakhs.
Rs.25.00 for amount beyond Rs.2 lakhs.

Some banks are not charging any amount upto Rs.1 lakh like Central bank of india.
If any bank charges more than this, customers can lodge protest with the banks and RBI.

Venkat

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4 thoughts on “RBI fixes up the NEFT -Transfer of fund charges by Banks

  1. ICICI bank says “NEFT charges: Rs. 2.5 + Service Tax up to Rs. 10,000/-. What are these service charges? Seems ICICI knows how to suck all the blood from customers?

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