Axis Bank provides NEFT (National Electronic Funds Transfer) service for its customers for quick transfer of funds. With this service, customers can transfer money between Axis Bank accounts and accounts held in other banks, pay bills and make credit card payments. 

This article covers all about Axis Bank NEFT, including NEFT charges, timings, form, requirements and process to make NEFT transactions.

What are Axis Bank NEFT Charges?

Below are the details of Axis Bank NEFT charges:

How to Make NEFT Axis Bank Transfers? 

Axis Bank offers a simple and efficient process for transferring funds via NEFT, whether to accounts in other banks or within Axis Bank itself. 

NEFT Transfers from Axis Bank to Other Banks

• Log in to Axis Bank internet banking with your Login ID and password.
• Navigate to the ‘Transfer Funds’ menu and select ‘Other Bank Account’.
• Add payee to add a new beneficiary to whom you want to send money. Once the payee is added, select the payee.
• Enter the amount to be sent, select ‘NEFT’ and click ‘Proceed’. 
• Once the transaction is processed, you will receive a confirmation message.

Transferring Funds from Axis Bank to Axis Bank

• Log in to Axis Bank internet banking with your Login ID and password.
• Navigate to the ‘Transfer Funds’ menu and select ‘Within Bank Account’.
• Enter the required details, including the payee’s name, account number, and IFSC code.
• Enter the amount to be sent, select ‘NEFT’ and click ‘Proceed’.
• Once the transaction is processed, you will receive a confirmation message.

Limitations of Axis Bank NEFT Service

NEFT transactions are settled in batches throughout the day. This means that money transfers will take up to a few hours to be processed, unlike other payment methods such as RTGS (Real Time Gross Settlement). A transaction initiated after a designated settlement time will be processed in the next slot. 

Additionally, Axis Bank has set the maximum NEFT transfer limit of up to Rs. 10 lakh per transaction for an individual account holder. However, higher limits may apply for businesses, subject to the bank’s internal policies and agreements.

How Do You Pay Your Credit Card Bill Through the NEFT of Axis Bank?

To pay your credit card bill using Axis Bank’s NEFT service, follow these simple steps:

• Log in to Axis Bank internet banking with your Login ID and password.
• Add the credit card as a beneficiary.
• Go to the ‘Transfer Funds’ section and select ‘Other Bank Account’.
• Select the credit card as payee, enter the amount, review the details and click ‘Proceed’.
• Once the payment is processed, you will receive a confirmation message.

Axis NEFT Timing

Axis Bank offers NEFT transactions 24x7 through Retail Internet Banking (RIB), Mobile Banking, and Corporate Internet Banking (CIB). Below are the details of Axis NEFT processing timings and transaction limits:

Things to Know About Axis Bank NEFT and RTGS Transactions

Axis Bank offers both NEFT and RTGS services, catering to different types of fund transfers. Here is an overview of each service and its key features.

NEFT (National Electronic Funds Transfer)

NEFT is a popular banking system that helps to transfer funds between financial institutions in India, offering flexibility and accessibility. The following are the key features of NEFT:

• There is no maximum or minimum transaction limit, making it ideal for both small and large payments.
• NEFT services are accessible round the clock, including weekends and holidays.
• Minimal charges apply on NEFT transfers, varying based on the transaction amount and mode.
• Transactions are processed in hourly batches, typically resulting in a short delay during bank operating hours.

RTGS (Real-Time Gross Settlement)

This facility is designed to facilitate the immediate settlement of larger transactions, ensuring faster fund transfers.

• RTGS is operational around the clock, even on holidays.
• The lowest transfer amount is Rs. 2 lakh, and there is no maximum amount, making it suitable for significant payments.
• Funds are transferred instantly within business hours.

Axis Bank NEFT Form

To initiate NEFT transfers at an Axis Bank branch, you will need to fill in the NEFT form and hand this form over to a bank staff member along with payment. Below is the specimen of an Axis Bank NEFT form:

Axis Bank NEFT Transaction Requirements

To successfully initiate an NEFT transaction through Axis Bank, you must provide the following details:

• The account number from which the funds will be debited.
• The total amount to be sent.
• The payee’s name, account number, and IFSC code.
• The payee’s bank name and branch address.
• Any specific instructions or additional information the sender wishes to convey.
• Remitter’s name, address and mobile number,  if done offline by submitting the NEFT form to the bank.
• The signature of the remitter, if done offline by submitting the NEFT form to the bank.

Axis Bank offers a variety of fund transfer services each tailored to cater to the requirements of its customers. The NEFT service ensures seamless and secure transactions at low costs, whether you are making small payments, urgent transfers, or handling high-value transactions.

Related Articles:
1. Canara Bank NEFT Charges
2. Bank of Baroda NEFT Charges
3. PNB NEFT Charges