A detailed guide to do NEFT from your SBI account using the SBI NetBanking facility – perform inter-bank fund transfers with your SBI account.
SBI or State Bank of India provides NEFT facility to its NetBanking users to transfer funds from their SBI account to a different (external) bank’s account.
NEFT comes under Inter-bank transfers and usually the funds are successfully transferred within 24-36 hours in week days. Here are some points you should know about SBI NEFT facility:
- Maximum amount you can send via NEFT in a day is Rs. 10 lakhs day
- SBI NEFT is available from 8 AM to 4 PM all throughout the week
- It may take nearly 2 hours to get the transfer amount reflected in the beneficiary’s account
You should see this document to know the timings, fund limits and other mandatory information regarding SBI NEFT.
This detailed guide explains how to do NEFT from your SBI account, but before proceeding to it, make sure you’ve added the external bank account (to which you’ve to transfer money via NEFT) as an Inter-bank beneficiary.
NEFT with SBI: Step-by-step
- Log into your SBI Net Banking account and click the Payments / Transfers tab in the main navigation bar.
- It will bring various options of online transfers that you may do with SBI. Just click the Inter-Bank Beneficiary link.
- Next page will show you the existing transaction types for Inter-Bank transfers. Select NEFT from the given options.
- On the next page, you’ll see the SBI NEFT form with options to enter the NEFT amount, and the inter-bank beneficiary account you’ve added. You have to add the account of the person you want to send money via NEFT, as inter-bank beneficiary. It will require details like Account Number, Bank Name, and IFSC Select Pay Now and click the Submit button.
- A confirmation message for the NEFT transfer will appear next, just verify the details you’ve provided and click the Confirm button.
- If everything went right, you’ll see a success message as shown by the below screenshot:
Normally, the transferred amount is reflected within a few minutes to two hours in the selected beneficiary’s bank account (depending on beneficiary’s bank). I hope this has helped you to successfully do an NEFT Transfer through your SBI Net Banking.