ICICI NEFT Charges, Form, Transfer Timings, Limit Per Day & How To Increase Limit?

ICICI Bank NEFT (National Electronic Funds Transfer) is a banking facility through which customers can electronically transfer funds from their savings account to another individual’s bank account. However, every individual opting for fund transfers should be aware of the NEFT charges ICICI, its timings, and other related essentials, which are discussed in detail in this article.

ICICI Bank NEFT Charges

ICICI Bank customers must pay a certain amount as a fee called the NEFT charges to complete the NEFT transaction from their ICICI savings account to another account. The following table showcases the NEFT charges ICICI based on the range of amount you would like to transfer:

Please note that NEFT charges are only applicable if the fund transfer is done through the ICICI bank branches. Hence, no charges will be applicable if the NEFT is initiated online, i.e., through ICICI Bank net banking, iMobile Pay app, or the Pockets app.

ICICI NEFT Transfer Limit

The ICICI Bank NEFT transfer limits vary based on the mode of transfer and the day and time the fund transfer has been initiated. The NEFT transaction limits of the ICICI Bank are as follows:

Please note that these charges are applicable for NRIs as well.

NEFT Limit Per Day ICICI

The National Electronic Fund Transfer has a limit on transferring funds per day. Hence, the maximum NEFT transaction limit you can initiate in a day is Rs. 10 lakh (Rs. 20 lakh if done through the iMobile Pay app) between 1:00 a.m. and 7:00 p.m.

However, the daily transaction limit may vary for different accounts. Thus, it is best to enquire with ICICI Bank about the transaction limit for your account.  

How To Change NEFT Limit In ICICI?

ICICI Bank offers a convenient facility through which you can set your own transaction limit. However, you must remember that whatever transaction limit you set should be within the maximum limit as mandated by the bank. Follow the steps below to change the NEFT transaction limit for your account:

Step 1: Log in to your ICICI net banking account.

Step 2: Click on ‘Overview’ and select ‘Personal Details’.

Step 3: Under ‘Personal Details’, select ‘Personalize Transaction Limits’.

Step 4: Set the transfer limits, select the bank account and click ‘Next’.

Step 5: An OTP will be sent to your mobile phone. Enter the OTP and click ‘Update Limit’. 

How To Increase NEFT Limit In ICICI?

The bank does not allow customers to increase the NEFT limit beyond the maximum limit set by the bank for the respective account. However, you may increase the existing limit subject to the maximum limit by following the steps stated in the above section. 

ICICI NEFT Transfer Time

As per the guidelines mandated by the Reserve Bank of India (RBI), all NEFT transaction services are available online 24 hours a day, including bank holidays.

However, in case you would like to initiate a NEFT transfer by visiting an ICICI bank branch in person, you need to inquire about the timings from the bank. You cannot initiate NEFT transaction from an ICICI bank branch on bank holidays. You can do NEFT through bank branches only during their working hours.

How Much Time NEFT Takes In ICICI?

All NEFT transactions at ICICI Bank are processed in half-hourly batches throughout the day at specific intervals. However, as per the mandates generated by the Reserve Bank of India, NEFT transactions should be settled within two hours after they are initiated, excluding bank holidays or weekends.

Requirements to Make an ICICI Bank NEFT Transaction

You must have the following requirements before initiating an ICICI NEFT bank transaction:

• IFSC code
• Bank account number
• Bank branch details
• Beneficiary name
• Beneficiary account details
• Beneficiary bank branch

How to Transfer Money through ICICI NEFT?

You can proceed with the following simple steps to make an online ICICI NEFT transaction:

Step 1: Log in to your ICICI net banking account.

Step 2: Navigate to the ‘Fund Transfer’ section under the ‘Payments and Transfer’ tab.

Step 3: Click on the ‘Add a Payee’ option.

Step 4: Select the ‘Beneficiary Type’ as ‘Other Bank Payee’.

Step 5: Provide the details of the beneficiary’s account and select the beneficiary’s IFSC code and branch name.

Step 6: Click on ‘Add’ and then on ‘Confirm’.

Step 7: Confirm the beneficiary registration by entering the OTP you received.

Step 8: Once the beneficiary is registered, go to the ‘Fund Transfer’ tab.

Step 9: Select the beneficiary you want to send money from the registered beneficiaries list.

Step 10: Select the ‘Debit Account’ and enter the amount you want to transfer.

Step 11: Select the payment method as ‘NEFT’.

Step 12: Review the details and click on ‘Confirm’.

Step 13: Authenticate the transaction by entering the OTP received on your mobile number and click on ‘Submit’.

NEFT is a safe and dependable transaction service conveniently operated at the ICICI bank. Now that you are aware of the details, including the NEFT charges ICICI, you can easily transfer funds to individuals within minutes.

Other Articles:
1. SBI NEFT Charges
2. HDFC NEFT Charges

Other ICICI Articles:
1. ICICI Net Banking, Online Banking, Login
2. How to Activate ICICI Credit Card?
3. ICICI Mobile Banking - How to Register, Login and Transfer Funds?
4. ICICI Credit Card Cash Withdrawal Charges
5. ICICI Bank Locker Charges
6. ICICI Net Banking Password Reset
7. ICICI Mobile Banking - How to Register, Login and Transfer Funds?
8. ICICI Net Banking
9. ICICI Bank Zero Balance Account Opening
10. ICICI Bank PPF Calculator
11. How to Increase Credit Card Limit for ICICI Bank?
12. ICICI Credit Card Customer Care