How to do NEFT money transfer SBI to Other SBI account ?

How to do NEFT money transfer SBI to Other SBI account ?

Here we will teach you the method of amount transfer from one person’s SBI(State bank of India) account to another person’s SBI(state bank of India) account. Full form of NEFT is National Electronic Funds Transfer (NEFT) If you are activated Internet banking facility, you will need to open your SBI portal by entering username and password.

neft-fund-transfer-sbi-sbi

Go to the payment/transfer tab at top side then you will see a link saying that “accounts of Others”. Click on that link. The below shown image is the example.

neft-transfer-sbi

If you already added a person, then you can select his/her name from the above page.Other wise you need to add a intrabank beneficiary. After that you will reach to the below shown page: You need to enter the profile password of your SBI account.

neft-transfer-sbi-accountAfter entering the profile password, then add the person details to whom you want to pay through NEFT transfer, after adding the details, just click submit button.

neft transfer-statebank

 Next is you need to approve both transfer limit and beneficiary.

sbi-approve-neft-limit

For approve beneficiary, bank will do the same within 4 hours of cooling period. You can start transfer only after bank activation. Approve limit is simple and you need to do it. After these simple steps, you can transfer the amount to the beneficiary at any time. Once you added one beneficiary, you can make payments online at any time in future. Approval process is one time and once the beneficiary is approved by bank, it is permanent. If you want to delete the beneficiary at any time after adding.

NEFT money transfer charges SBI (State Bank of India)

RTGS / NEFT / ECS CHARGES – STATE BANK OF INDIA
SL.No.
MODE/TYPE
Transaction AMT SLAB
BANK Charges
1. NEFT
Upto Rs.10,000- Rs.2.50
Upto Rs.1.00 lac Rs.5.00
Above Rs.1.00 lac to 2.00 lacs Rs.15.00
Above Rs.2.00 lacs Rs.25.00
a) RTGS Customer Transactions (R-41)
Time of settlement at the RBI (Reserve bank of india) Transaction Slab Charges
From To
09.00 Hours 12.00 Hours Rs.2.00 lacs to Rs.5.00 lacs Rs.25
Above Rs.5.00 lacs Rs.51
After 12.00 Hours 15.30 Hours Rs.2.00 lacs to Rs.5.00 lacs Rs.26
Above Rs.5.00 lacs Rs.52
After 15.30 Hours 16.30 Hours (on week days) Rs.2.00 lacs to Rs.5.00 lacs Rs.31
Above Rs.5.00 lacs Rs.56
b) RTGS Inter-Bank Transactions (R-42)
Time of settlement at the RBI (RESERVE BANK OF INDIA) Transaction Slab Charges
From To
09.00 Hours 12.00 Hours Rs.2.00 lacs to Rs.5.00 lacs Rs.25
Above Rs.5.00 lacs Rs.51
After 12.00 Hours 15.30 Hours Rs.2.00 lacs to Rs.5.00 lacs Rs.26
Above Rs.5.00 lacs Rs.52
After 15.30 Hours 16.30 Hours (on week days) Rs.2.00 lacs to Rs.5.00 lacs Rs.31
Above Rs.5.00 lacs Rs.56

NEFT is the simplest method to transfer amount from one bank to another. Charges also very low. But first time, it is little difficult because you want to add the beneficiary and then bank want to manually approve. But second time onwards it is very simple because there is no need of approve beneficiary again and again.

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