Payment Methods
What is NEFT?
National Electronic Funds Transfer · नेशनल इलेक्ट्रॉनिक फंड्स ट्रांसफर
RBI's batch-settled transfer system — near-instant these days, but settles in half-hourly cycles.
NEFT collects transfer instructions and settles them in half-hourly batches run by RBI around the clock since December 2019. In practice most NEFT transfers arrive within minutes, but they are not guaranteed-instant like UPI or IMPS.
There is no minimum amount, and RBI has directed banks not to charge for online NEFT transactions. Businesses still use NEFT for vendor payouts and salary batches because it handles bulk files gracefully and leaves a clean banking trail.
NEFT: quick answers
Why would anyone still use NEFT over UPI?
Bulk payroll files, very large amounts beyond UPI caps, and accounting systems keyed to account numbers rather than VPAs.
Does NEFT work on Sundays?
Yes — the system runs 24×7 including holidays, though beneficiary bank processing may occasionally lag.
Use it right now