Are you looking for a hassle-free way to transfer funds to another bank account? If yes, then NEFT Transfer is the best option for you. Axis Bank, one of the leading private sector banks in India, provides NEFT Transfer services to all its customers.
What is NEFT Transfer?
NEFT (National Electronic Funds Transfer) is an electronic payment system that enables individuals and businesses to transfer funds from one bank account to another bank account in India. NEFT Transfer is a safe, secure, and convenient way of transferring funds without the need for physical cheques or demand drafts. It is available 24x7, including weekends and bank holidays.
How to Transfer Funds using NEFT Transfer in Axis Bank?
Axis Bank provides NEFT Transfer services to all its customers through multiple channels, such as internet banking, mobile banking, and branch banking. Here's how you can transfer funds using NEFT Transfer in Axis Bank:
Internet Banking
To transfer funds using NEFT Transfer through internet banking, follow these simple steps:
- Login to your Axis Bank internet banking account using your credentials.
- Select 'Fund Transfer' from the menu and click on 'NEFT'.
- Select the beneficiary to whom you want to transfer funds or add a new beneficiary.
- Enter the amount you want to transfer and select the account from which you want to transfer funds.
- Review the details and click on 'Submit'.
- Enter the OTP (One-Time Password) received on your registered mobile number and click on 'Submit'.
- Your NEFT Transfer will be processed instantly.
Mobile Banking
To transfer funds using NEFT Transfer through mobile banking, follow these simple steps:
- Download and install the Axis Bank Mobile App on your smartphone.
- Login to your Axis Bank mobile banking account using your credentials.
- Select 'Fund Transfer' from the menu and click on 'NEFT'.
- Select the beneficiary to whom you want to transfer funds or add a new beneficiary.
- Enter the amount you want to transfer and select the account from which you want to transfer funds.
- Review the details and click on 'Submit'.
- Enter the OTP (One-Time Password) received on your registered mobile number and click on 'Submit'.
- Your NEFT Transfer will be processed instantly.
Branch Banking
To transfer funds using NEFT Transfer through branch banking, follow these simple steps:
- Visit your nearest Axis Bank branch.
- Fill up the NEFT Transfer form with the required details, such as beneficiary's account number, name, and bank branch.
- Submit the form along with the cash or cheque to the bank executive.
- Your NEFT Transfer will be processed instantly.
NEFT Transfer Charges in Axis Bank
Axis Bank charges a nominal fee for NEFT Transfer services. The fee varies based on the amount of funds transferred. Here's a detailed breakup of the NEFT Transfer charges in Axis Bank:
| Transaction Amount | NEFT Transfer Charges |
|---|---|
| Up to Rs. 10,000 | Rs. 2.50 + GST |
| Rs. 10,001 to Rs. 1 lakh | Rs. 5 + GST |
| Rs. 1 lakh to Rs. 2 lakhs | Rs. 15 + GST |
| Rs. 2 lakhs and above | Rs. 25 + GST |
NEFT Transfer Timings in Axis Bank
NEFT Transfer services are available 24x7 in Axis Bank. However, the funds transfer may not be processed instantly, and the beneficiary may receive the funds on the next working day. Here's a detailed breakup of the NEFT Transfer timings in Axis Bank:
| NEFT Transfer Timings | NEFT Transfer Cut-off Time | NEFT Transfer Processing Time |
|---|---|---|
| Monday to Saturday (except 2nd and 4th Saturday) | 6:30 AM to 6:30 PM | Half-Hourly Batches from 8:00 AM to 7:00 PM |
| 2nd and 4th Saturday | 6:30 AM to 6:30 PM | Half-Hourly Batches from 8:00 AM to 3:30 PM |
| Sunday and Bank Holidays | Closed | NA |
Advantages of NEFT Transfer in Axis Bank
NEFT Transfer has several advantages over other modes of fund transfer, such as physical cheques and demand drafts. Here are some of the advantages of NEFT Transfer in Axis Bank:
- Safe and secure way of transferring funds.
- Convenient and hassle-free way of transferring funds without the need for physical cheques or demand drafts.
- Available 24x7, including weekends and bank holidays.
- Low transaction charges compared to other modes of fund transfer.
- Instant processing of funds transfer.
Conclusion
NEFT Transfer is a safe, secure, and convenient way of transferring funds from one bank account to another bank account in India. Axis Bank provides NEFT Transfer services to all its customers through multiple channels, such as internet banking, mobile banking, and branch banking. NEFT Transfer has several advantages over other modes of fund transfer, such as physical cheques and demand drafts. It is available 24x7, including weekends and bank holidays. So, next time you need to transfer funds, use NEFT Transfer in Axis Bank and enjoy the hassle-free experience.