National Electronic Funds Transfer (NEFT)

What is NEFT?

The National Electronic Funds Transfer (NEFT) is an electronic payment system that facilitates direct one-to-one payments across the country. Using this facility, you can electronically transfer funds from any bank branch to any individual having an account with any other bank branch in the country that is a part of the NEFT scheme. You can also make NEFT transfers using digital modes of internet banking and mobile banking



NEFT transfers can be made by ICICI Bank customers using any of the modes below:


ICICI Bank Credit Card Payment through NEFT

In accordance with the RBI guidelines, the NEFT facility is available 24x7. 

NEFT Transaction Charges

For digital channels:

No transaction charge is applicable on NEFT/RTGS transfer that are initiated through digital modes of banking, i.e. Internet Banking, iMobile app, Mera iMobile app and Pockets app.


For Branches:

The below transaction charges are applicable for NEFT transfer that are initiated through the branches of ICICI Bank.

Transaction ChargesNEFT
Up to ₹ 10,000 ₹ 2.25 + Applicable GST
Above ₹ 10,000 and upto ₹ 1 lakh ₹ 4.75 + Applicable GST
Above ₹ 1 lakh and upto ₹ 2 lakh ₹ 14.75 + Applicable GST
Above ₹ 2 lakh and upto ₹ 10 lakh ₹ 24.75 + Applicable GST

As per RBI guidelines, National Electronic Funds Transfer (NEFT) is available 24x7 with effect from Dec 16, 2019.





Transaction Limits/TimingRTGS Monday to Saturday
(Except 2nd and 4th Saturday)
IMPS (24 * 7 – 365 days)
Account number + IFSCMobile number + MMIDAccount number + IFSCMobile number + MMID
Minimum ₹2 Lakh Re. 1 Re. 1 Re. 1 Re. 1
Maximum ₹10 Lakhs ₹2lakh* ₹10,000 ₹2lakh ₹10,000


*Upto ₹2 lakhs per transaction for IMPS (₹10 Lakhs per day through iMobile Pay)



NEFT(RIB & iMobile)


Transaction Limits/Timing01.00 h₹– 19.00 h₹00.00 h₹– 01.00 h₹
19.00 h₹– 00.00 h₹
2nd & 4th Saturday, Sunday & RTGS Holidays
Minimum Re. 1 Re. 1 Re. 1
Maximum ₹10 Lakh or 25 Lakh (Based on customer segment) ₹2 Lakh ₹2 Lakh



CIB, Instabiz & API Banking - Limits are at user level


Limits01:00 h₹– 19:00 h₹00:00 h₹– 01:00 h₹and 19:00 h₹– 00:00 h₹2nd & 4th Saturday, Sunday & RTGS Holidays
Per Transaction Amount Existing Workflow limit mapped to Corporate Maximum ₹2 Lakh Maximum ₹2 Lakh
Number of transactions NA Maximum 5 Maximum 5

Can I make a part pre-payment on my Home Loan Account through NEFT with ICICI Bank?

Yes, ICICI Bank accepts part pre- payment of your Home Loan through National Electronic Funds Transfer (NEFT). In case you want to make part pre-payment on your Home Loan Account through NEFT you need to visit the nearest ICICI Bank branch. For the list of Branches nearest to you please click here. The Service Request number received during branch visit must be mentioned in the remarks column in the NEFT form while making part prepayment through NEFT. Please note that the transactions with invalid request numbers will be rejected. Minimum 1 EMI to be paid as a part pre-payment amount.

Frequently Asked Questions (FAQs) for NEFT

What is National Electronic Funds Transfer (NEFT) system?

National Electronic Funds Transfer (NEFT) is a nation-wide centralised payment system owned and operated by the Reserve Bank of India (RBI). Funds are transferred to the Credit Account with the other participating Bank using RBI's NEFT service. RBI acts as the service provider and transfers the credit to the other bank's account. As per RBI guidelines, NEFT is available 24x7 with effect from Dec 16, 2019.

What are the advantages of using NEFT system?

NEFT offers the following advantages for funds transfer or receipt:

  • Round the clock availability all days of the year
  • Near real-time funds transfer to the beneficiary account and settlement in a secure manner
  • Pan-India coverage through large network of branches of all types of banks.
  • Positive confirmation to the remitter through SMS/e-mail on credit to the beneficiary’s account
  • Penal interest provision for delay in credit or return of transactions
  • No charges to Savings Account customers for online NEFT transactions
  • Besides funds transfer, NEFT system can be used for a variety of transactions including payment of Credit Card dues to the card issuing banks, payment of loan EMI.

What are the channels through which I can initiate an NEFT fund transfer?

  • Internet Banking – Send money to your chosen beneficiary from your desktop/laptop
  • Mobile Banking- Send money through your iMobile app
  • Branch– Visit the nearest ICICI Bank branch and fill the NEFT form to do an NEFT transaction
  • ICICI Bank Product name to be entered - Internet Banking facility for corporates.

What are the transaction steps for NEFT through Internet Banking/Mobile Banking?

For NEFT, you will need to begin by adding a beneficiary. Then you can go on to make a funds transfer or Credit Card payment.

For online transactions, both Internet Banking and third party funds transfer facilities should be in the active state.


Steps to add the beneficiary for NEFT

  • Step 1- Log in to ICICI Bank Internet Banking/iMobile app, with your user ID and password/M-PIN

1] For iMobile

  • Step 2– Go to the ‘Funds Transfer’ tab under the ‘Transact’ tab.
  • Step 3- Click on ‘Add a Payee’, and then select the beneficiary type ‘Other Bank Payee’
  • Step 4– Enter the beneficiary account details or Credit Card number
  • Step 5– Select the beneficiary’s IFSC, using the bank and branch name
  • Step 6– Click on ‘Add’, then click on ‘Confirm’
  • Step 7– Authenticate the registration using OTP. Once successfully authenticated, the Payee is available for transactions.

2] For Internet Banking

  • Step 2– Go to the ‘Funds Transfer’ tab under the ‘Payments and Transfer’ tab
  • Step 3 - Click on ‘Add a Payee’, and then select the Beneficiary Type ‘Other Bank Payee’
  • Step 4– Enter the Beneficiary Account details or Credit Card number
  • Step 5– Select the Beneficiary’s IFSC, using the bank and branch name
  • Step 6– Click on ‘Add’, then click on ‘Confirm’
  • Step 7– Authenticate the registration using OTP. Once successfully authenticated, the payee is available for transactions.

Steps to make your NEFT funds transfer:

  • Step 1 – Go to the ‘Fund Transfer’ tab
  • Step 2– Select the beneficiary from the list of registered beneficiaries
  • Step 3– Select the Debit Account, enter the amount and add remarks (optional)
  • Step 4– Select NEFT as the payment method
  • Step 5– Review the details, and if all is correct, click on ‘Confirm’ to complete the process
  • Step 6– Authenticate the transaction using OTP and click on ‘Submit’.

What information is required to do an NEFT transaction?

For an NEFT remittance, the remitter has to furnish the following information:

  • Amount to be remitted
  • Remitting customer's account number, which is to be debited
  • Name of the beneficiary bank
  • Name of the beneficiary
  • Account number of the beneficiary
  • IFSC of the destination bank branch

What are the transaction limits for NEFT?

For Internet Banking and iMobile:


Transaction limits/timing01:00 hours – 19:00 hours00:00 hours – 01:00 hours and 19:00 hours – 00:00 hours2nd and 4th Saturday, Sunday and RTGS holidays
Minimum Re 1 Re 1 Re 1
Maximum Rs 10 lakh or Rs 25 lakh (based on customer segment) Rs 2 lakh Rs 2 lakh

For branches:


Transaction chargesNEFT
Amounts up to Rs 10,000 Rs 2.25 + applicable GST
Amounts above Rs 10,000 and up to Rs 1 lakh Rs 4.75 + applicable GST
Amounts above Rs 1 lakh and up to Rs 2 lakh Rs 14.75 + applicable GST
Amounts above Rs 2 lakh and up to Rs 10 lakh Rs 24.75 + applicable GST

How to do Credit Card payments through NEFT?

Credit Card payments can be completed easily through ICICI Bank’s NEFT service under Internet Banking.


Important points:

  • You need to have the Internet Banking and third party funds transfer facilities in the active state
  • The Credit Card issuing bank must be enabled to receive payments through NEFT
  • The IFSC should be obtained from the Credit Card issuing bank (without the correct IFSC, the transaction will be rejected).

Steps to make your Credit Card payment:

  • Step 1– Go to the ‘Fund Transfer’ tab, and click on ‘Transfer to Other Bank’
  • Step 2– Select the Account, Beneficiary and enter the relevant details
  • Step 3– Accept the Terms and Conditions
  • Step 4– Review the details, and if all is correct, click on ‘Confirm’ to complete the process.

When does the beneficiary get the credit for an NEFT transaction?

The transaction will be settled to your beneficiary as per the RBI batch which ideally takes 30 minutes to 4 hours.

If an NEFT transaction is not credited to a beneficiary account, does the remitter get back the money?

Yes. If the beneficiary's bank is unable to credit the beneficiary's account for any reason, the former will return the money to the remitting bank within 2 business hours of completion of the batch in which the transaction was processed. Once the amount is received by the remitting bank, it is credited to the remitter's account by the branch concerned.

Can I use NEFT for foreign remittances?

This is a service designed only for remitting Indian Rupees within India.

What is IFSC?

IFSC stands for ‘Indian Financial System Code’. It is an 11-digit, alpha-numeric code designed to identify bank branches in India. The beneficiary customer can obtain the IFSC from his/her bank branch. The IFSC is also available on the cheque leaf.

Do all bank branches in India provide NEFT services?

No. NEFT services are enabled only in specific bank branches across the country. A list of such NEFT enabled branches can be obtained from the RBI website. Visit for NEFT.

Whom do I contact, in case of non-credit or delay in credit to the Beneficiary Account for NEFT transaction?

Visit the nearest ICICI Bank branch or call our Customer Care. You can also raise a Service Request by visiting . If the issue is not resolved satisfactorily, a complaint may be lodged to the Principal Nodal Officer and subsequently, to the Banking Ombudsman.


For details, please visit

What happens if I write the wrong account number of a beneficiary?

The credit is given to the account number written/given by the remitter in his/her application/instruction. Credit to the beneficiary account is released solely based on the account number. It is the responsibility of the remitting customer to write the correct account number. The originator/sender should exercise due care in providing the correct account number of the beneficiary, in the NEFT remittance instruction/application.

Whom should I approach for raising a dispute/complaint related to NEFT transaction?

You may approach the Grievance Redressal Cell of your bank with details of the disputed transaction. In case your grievance is not resolved within 30 days, you may approach the Banking Ombudsman under the RBI Banking Ombudsman Scheme, 2006. The contact details of BO along with the area of operation are available on the RBI website at