How to do NEFT Money Transfer?

How to do NEFT Money Transfer?

In today’s fast-paced world, money transfers have become an essential part of our lives. One of the most popular ways of transferring money in India is through NEFT (National Electronic Funds Transfer). NEFT is an electronic payment system that enables individuals and businesses to transfer funds from one bank account to another within the country. In this article, we will guide you through the steps of how to do an NEFT money transfer.

Know the basics of NEFT

Before you proceed with the NEFT transfer, it is important to know the basics of NEFT. NEFT is a safe, secure, and cost-effective way of transferring money. It operates on a deferred net settlement basis, where transactions are processed in batches, and the transfer of funds happens between 8:00 AM to 7:00 PM on weekdays (except for bank holidays). There is no minimum or maximum limit for NEFT transactions. However, the maximum amount that can be transferred in a single transaction is Rs. 10 lakhs.

Gather the necessary information

To initiate an NEFT transfer, you need to gather the necessary information. You will need the following details of the beneficiary:

  • Name of the account holder
  • Account number
  • Name of the bank
  • Branch IFSC code

You can get the IFSC code from the beneficiary’s bank account statement or by searching for it online.

Step 1: Log in to your internet banking account OR Mobile Banking App

To initiate an NEFT transfer, you need to log in to your internet banking account. If you don’t have an internet banking account, you can visit your bank’s website and register for one.

Step 4: Select the NEFT option

After logging in to your internet banking account, select the ‘NEFT’ option. This will redirect you to a page where you can enter the details of the beneficiary.

Step 5: Enter the beneficiary details

Enter the beneficiary’s details, including their name, account number, bank name, and branch IFSC code.

Step 6: Enter the transaction amount

Enter the amount you want to transfer to the beneficiary.

Step 7: Confirm the details

Before initiating the transfer, double-check the details entered by you. Once you have confirmed that all the details are correct, click on ‘Submit’ to initiate the NEFT transfer.

Step 8: Make the payment

To complete the NEFT transfer, you need to make the payment. The payment can be made through your internet banking account or by visiting the bank branch and making the payment in person.

Step 9: Get the transaction confirmation

Once the NEFT transfer is complete, you will receive a transaction confirmation from your bank. This confirmation will include the transaction reference number, which you can use to track the status of the transfer.


In conclusion, NEFT is a safe, secure, and cost-effective way of transferring money. By following the above-mentioned steps, you can easily initiate an NEFT transfer and ensure that your money reaches its intended recipient. So, the next time you need to transfer money, consider using the NEFT option and enjoy hassle-free money transfers.

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