NEFT has no minimum or maximum set by the RBI, though banks set their own limits for online transfers. Money usually arrives within an hour.
Online NEFT from a savings account is free at most banks. You need the receiver's account number and IFSC.
National Electronic Funds Transfer: a bank-to-bank transfer that runs 24 hours a day, settled in half-hourly batches.
NEFT has no minimum or maximum set by the RBI, though banks set their own limits for online transfers. Money usually arrives within an hour.
Online NEFT from a savings account is free at most banks. You need the receiver's account number and IFSC.
Short reads that explain how it works before you decide.
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