How SBI NEFT Simplifies Fund Transfers in 2023

Simplifying Fund Transfers with SBI NEFT Services in 2023

The State Bank of India (SBI) offers reliable National Electronic Funds Transfer (NEFT) services through its internet banking platform, ensuring fast and convenient fund transfers and bill payments nationwide.

SBI NEFT Charges for 2023:

• Transactions below Rs. 10,000: Rs. 2.5
• Transactions between Rs. 10,000 and Rs. 1 lakh: Rs. 5
• Transactions from Rs. 1 lakh to Rs. 2 lakhs: Rs. 15
• Transactions over Rs. 2 lakhs: Rs. 25

Executing NEFT Transfers:

Essential steps for conducting NEFT payments:

1) Transferring Funds via NEFT from SBI to Other Banks:

1. Log into your SBI internet banking account.
2. Navigate to payments and transfers.
3. Select the transaction type: within SBI or external.
4. Choose interbank beneficiary for NEFT outside SBI, select EFT, and proceed.
5. Enter account and beneficiary details, and schedule the transfer.
6. Agree to terms, input transaction password, and submit.
7. Verify and confirm the transaction details.

2) Sending Money from SBI to SBI:

1. Log in to the SBI portal.
2. Select payments, then 'Within SBI' and 'Accounts of Others.'
3. Enter transfer details and beneficiary account number.
4. Provide beneficiary info, submit, and enter transaction password.
5. Confirm transaction details.

NEFT Transaction Essentials:

• Registered mobile number.
• Payee's bank IFSC code.
• Account details of the payee.
• Transfer amount.

Benefits of NEFT Payments:

Advantages of opting for NEFT transactions:

• Secure, user-friendly SBI NEFT service for efficient fund transfers.
• Cost-effective method with minimal charges.
• RBI-regulated , ensuring secure and dependable transactions.
• No limits on the amounts transferable via NEFT.

Paying Credit Card Bills with SBI NEFT:

Steps for seamless credit card bill payments via SBI NEFT:

1. Login to SBI net banking on any device.
2. Add your credit card under third-party beneficiaries.
3. Enter the IFSC and the 16-digit SBI credit card number.
4. Provide the credit card company’s bank details.
5. Submit to complete the payment.

Utilize SBI NEFT for hassle-free fund transfers and bill payments.