Simplifying Fund Transfers with SBI NEFT Services in 2023

The State Bank of India (SBI), a leading financial institution, offers convenient National Electronic Funds Transfer (NEFT) services via internet banking for swift fund transfers and bill payments across India.

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:

Comprehensive steps to execute NEFT payments:

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

1. Access your SBI internet banking account.
2. Go to payments and transfers.
3. Select transaction type - within SBI or external.
4. Choose interbank beneficiary for NEFT outside SBI, select EFT, and proceed.
5. Fill in account and beneficiary details, 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. Sign in to the SBI portal.
2. Select payments, then 'Within SBI' and 'Accounts of Others.'
3. Input 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 payee.
• Transfer amount.

Benefits of NEFT Payments:

Why choose NEFT for your transactions:

• Secure, easy-to-use SBI NEFT service for effective fund transfers.
• NEFT is a budget-friendly method with minimal charges.
• RBI-regulated, ensuring transaction security and trustworthiness.
• No limits on transferable amounts via NEFT.

Paying Credit Card Bills with SBI NEFT:

Steps to pay your credit card bill seamlessly via SBI NEFT:

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

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