NEFT Timings - National Electronic Fund Transfer Timings 2023

NEFT Timings - National Electronic Fund Transfer Timings 2023

In the present speedy computerised age, understanding the complexities of financial transactions is significant. The National Electronic Funds Transfer (NEFT) framework has turned into a foundation of current banking, empowering consistent bank transfers across India. Nonetheless, getting a handle on the NEFT timings is fundamental to taking full advantage of this helpful assistance.

This blog, "National Electronic Funds Transfer (NEFT) Timings" is your go-to asset for everything related to NEFT. We'll dive into the NEFT plan, examining the functional hours, deadlines, and even the way that NEFT capabilities past customary banking hours. Whether you're a carefully prepared NEFT customer or another person with online banking, this blog will engage you with the information you want to enhance your financial transactions. Get a breakdown of NEFT timings and capitalise on this safe and effective method of money transfer.

What is the NEFT Settlement Time? 

NEFT administrations are accessible all the time, even on vacations. These NEFT portals process the request in the interval of 30 minutes. This implies that NEFT transactions are consistently gotten comfortable in a 48-hour cycle at a constant rate.

The settlement time of the NEFT transactions starts at 12:30 AM at the start of the day and finishes at 12:00 AM the next day. This is applied to support the progression of additional transactions to lessen the NEFT settlement time. This makes the NEFT structure more helpful for the customers. 

It should be noted that all NEFT transactions that occur during ordinary bank working hours are viewed as automated exchanges that are started through 'Straight Through Process’ (STP) modes by the banks.

What is the NEFT Cut-Off Time? 

Until 2019, RBI had fixed timings during which NEFT transactions could be processed. Any NEFT transaction would be processed only between 8:00 AM and 6:30 PM from Monday to Friday and 8:00 AM to 12:00 PM on Saturdays. 

However, from 2020, NEFT transactions can be performed 24*7. This was done to promote digital transactions and global integration of financial markets. It must be noted that NEFT uses quite a simple mechanism to perform the transfer of funds from one bank account to another. It must be noted that while the general NEFT cut-off time remains the same, all banks have different NEFT cut-off times. Apart from this, most banks do not offer fund settlement services on the 2nd and 4th Saturdays and all Sundays of every month, along with a few national holidays.

Major Banks’s NEFT Timings

Here are some of the major banks with their respective NEFT timings:

Name of the Bank

NEFT Timing From Monday to Friday

NEFT Timing on Saturday

State Bank of India

8:00 am to 7:00 pm

8:00 am to 1:00 pm


8:00 am to 6:30 pm

8:00 am to 6:30 pm


8:00 am to 6:30 pm

8:00 am to 6:30 pm


8:00 am to 7:00 pm

8:00 am to 1:00 pm

Kotak Mahindra Bank

8:00 am to 6:00 pm

8:00 am to 12:00 pm

Bank of Baroda

9:00 am to 6:45 pm

9:00 am to 6:45 pm

Yes Bank

8:00 am to 7:00 pm

8:00 am to 1:00 pm

Union Bank

8:00 am to 6:30 pm

8:00 am to 6:30 pm

Punjab National Bank

8:00 am to 7:00 pm

8:00 am to 1:00 pm

NEFT Holidays 2023 

As per the rules of the Reserve Bank of India(RBI), banks in India do not provide their facilities to their customers for NEFT transactions on these national holidays-

  • April 1 (Annual closing of banks)
  • Good Friday
  • Ramzan Eid
  • Bakra Eid
  • Independence Day
  • Muharram
  • Mahatma Gandhi Jayanti
  • Vijaya Dashmi
  • Christmas

Things to Remember When Using NEFT Transfer

There are certain key points that you should consider keeping in mind when you are using NEFT to transfer from your bank account to the beneficiary’s bank account. Below are points  to remember when using NEFT transfer:

  • Always double check beneficiary’s bank details and the amount you want to transfer. Money transfer through NEFT can involve huge pocket-affecting money value, allowing you to be extra careful with your finances.
  • Make your transfer in the working days. You can use NEFT to transfer your funds 24/7, but there are several banks that have set a time period to complete the transfers. Most of the banks don’t support NEFT transactions on Sundays and the second and fourth Saturdays of the month. If you initiate a payment on a non-working day, your transfer will likely be completed on the next working day.
  • Never share your One Time Password(OTP) that you receive to initiate the NEFT transfer with anybody. Doing so can cause you the loss of the money in your bank account.

Use & Works of NEFT in Banking

NEFT is an online mode of financial transactions from one bank account to another. It is one of the quickest methods of bank transfers across the country. NEFT is used to transfer the funds from your bank account to someone else. If you want to send some funds from your bank account to someone known, NEFT is the option that is available to you to complete the transfer.

Transfer of funds via NEFT is simple and convenient. Follow the instructions to start transferring:

  • Log in to your internet banking account on your desktop or smartphone.
  • When you get on the main page, click on ‘Fund transfer’
  • From the list of options that appears, select ‘NEFT’
  • Note that you are required to ‘Add beneficiary’ to the list of beneficiaries in your account. Move on to the next process if you have done it already.
  • If you want to add a new beneficiary, click on the ‘Add beneficiary’ option on the page.
  • Enter the required information of the beneficiary, such as his/her name, bank account number, IFSC, etc.
  • Now, Click on ‘Confirm’ or ‘Add’, whatever appears on the screen
  • You will get an OTP on your registered mobile number for the authentication process. You need to netter the  OTP sent on your registered mobile number.
  • After following all the above-mentioned steps, your request will be processed. It generally takes around 24 hours to add a beneficiary.
  • Once you add the beneficiary to your account, you will be asked to select the beneficiary details from your list of beneficiaries.
  • Enter the amount you want to transfer and confirm your transaction
  • Click on the ‘Confirm’ button, and the desired amount will get transferred from your bank account to the other’s.


Understanding the NEFT timings in India holds principal significance for anybody who takes part in financial transactions, whether for individual or business reasons. With its advantageous and adaptable structure, NEFT has changed how money is transferred in the country. The clear-cut NEFT timings given by financial organisations guarantee that people and organisations can safely and quickly go through with transactions, rising above geological obstructions in the advanced age.

Frequently Asked Questions (FAQs)

How long will it take in a Neft transfer?

NEFT transfers generally take up to 2 hours for the amount to be credited to the beneficiary’s bank account.

Is NEFT available 24 hours?

Yes, you can initiate a NEFT transaction whenever you want, as it is available for 24 hours.

Can NEFT take more than 2 hours?

Yes, NEFT transactions can take more than 2 hours for various reasons like bank holidays or Sundays.

What happens if NEFT takes too long?

If NEFT cannot complete the transaction, the bank is liable to return the sum immediately to the sender. If that is also not done within two hours of the delay, the bank is liable to pay penalty interest to the affected customer per the RBI guidelines.

Can I track my Neft transfer?

You can track your NEFT transfer by contacting the NEFT Customer Facilitation Centre(CFC) of your bank.

How do I know if my NEFT is successful?

You can contact your bank by phone, email or visiting your bank’s branch to get an updated status of your NEFT transfer.

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