PNB NEFT Charges - Benefits, Timings, NEFT Form, and How To Transfer

PNB (Punjab National Bank) enables account holders to transfer funds effortlessly using the NEFT (National Electronic Funds Transfer) system. This service allows users to send money between PNB accounts and accounts in other banks, pay bills, and settle credit card payments. With no size restrictions, NEFT transactions can be carried out 24/7 through PNB’s internet banking and mobile banking platforms. 

Continue reading to learn more about the PNB NEFT charges and other important details.

What are PNB NEFT Charges?

PNB Bank adheres to the Reserve Bank of India (RBI) guidelines and does not charge for NEFT or RTGS transactions conducted online via internet banking or mobile banking apps. However, a small fee applies for NEFT transactions carried out at a bank branch. No fee is applicable for NEFT inward transactions, but charges may vary for outward transactions.

NEFT Outward Transactions (Branch Transactions)

• Up to ₹10,000: ₹2.25 + GST per transaction
• ₹10,001 to ₹1 lakh: ₹4.75 + GST per transaction
• ₹1 lakh to ₹2 lakh: ₹14.75 + GST per transaction
• Above ₹2 lakh: ₹24.75 + GST per transaction

NEFT Outward Transactions (CC/OD Accounts)

• Up to ₹10,000: ₹1.75 + GST per transaction
• ₹10,001 to ₹1 lakh: ₹4.25 + GST per transaction
• ₹1 lakh to ₹2 lakh: ₹14.25 + GST per transaction
• Above ₹2 lakh: ₹24.25 + GST per transaction

How to Make Transfers in NEFT?

Multiple methods are available for individuals to carry out NEFT transactions through PNB. Below is a detailed step-by-step guide to help you make payments effortlessly:

NEFT Payments from PNB to Other Banks

You need to follow these steps to transfer funds through NEFT from PNB to other banks:

Online Process

• Visit the PNB official website and log in to the internet banking portal using your user credentials.
• Search for the ‘Transactions’ section and select the ‘Transfer to Other Bank Accounts’ option. Next, select ‘NEFT’ as your mode of transfer.
• You will be directed to the ‘Initiate Simple Payment’ page. Enter the necessary details, including the beneficiary’s account number, the amount to transfer, transaction date, frequency type (such as one-time), and any remarks if applicable.
• Tap on the ‘Continue’ button to proceed.
• Review the transaction details on the ‘Initiate Single Entry Payment Confirmation’ page. 
• Enter your transaction password and hit the ‘Submit’ button. 
• If there is an error in the details, select the ‘Back’ button to make corrections.

Offline Process

• Complete the NEFT form with the required details.
• Enter the beneficiary’s name, account number, and IFSC code.
• Submit the filled form at the bank counter for processing.
• Collect the receipt provided by the bank executive as proof of submission.
• Receive a confirmation message on your registered mobile number once the transaction is processed.

Transferring Funds from PNB to PNB 

To transfer funds online via NEFT from one PNB account to another, follow these simple steps:

• Sign in to your PNB net banking account.
• Go to the ‘Transactions’ section and select the NEFT option under ‘Transfer to PNB’.
• Enter the beneficiary’s account number, amount to transfer, IFSC Code, and other necessary details.
• Click on ‘Continue’.
• Review the details on the confirmation page and tap ‘Submit’ to complete the transaction.
• After completing a successful fund transfer, a confirmation message and a reference number will appear on your screen. You can save this message for future reference.

How Can I Add a Beneficiary for NEFT Transfer in PNB?

To add a beneficiary for an NEFT transfer in PNB, follow these steps:

• Visit the PNB online banking portal and log in to your account using your username and password.
• Navigate to the ‘Transactions’ section, then choose ‘Beneficiary Management’ and select ‘Manage Beneficiary.’
• Under the ‘Manage Beneficiary’ menu, click on ‘Add NEFT Payee’.
• Enter the beneficiary details, validate his/her account number by clicking ‘Validate,’ and then select ‘Continue’ to complete the process.

Limitations of PNB NEFT Service

PNB Bank’s NEFT service has certain limitations that customers should be aware of. Unlike IMPS, which enables instant transfers, NEFT transactions are processed in batches, which can lead to potential delays. Due to its batch processing system, NEFT may not be the best option for urgent or emergency transactions requiring immediate fund settlement.

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

You can settle your credit card bill using the NEFT facility at Punjab National Bank by following these steps:

• Log in to your Internet banking account using your credentials.
• Add your credit card as a beneficiary in the ‘Beneficiary Management’ section.
• Initiate an online transfer using the NEFT option.
• Verify all the details that you have given to ensure accuracy.
• Once the transaction is successful, a confirmation message will be sent to you as proof of payment.

Provide the following information during the transfer:

• Name of Destination Bank: Punjab National Bank
• IFSC Code: PUNB0112000
• Name of Destination Branch: ECE House, New Delhi
• Destination Account Number: Your 16-digit credit card number

PNB NEFT Timing

Punjab National Bank (PNB) NEFT services are available 24/7, including holidays, for internet and mobile banking transactions. However, walk-in NEFT transactions at PNB branches are only available during banking hours. The NEFT timings for PNB branches are from 8:00 a.m. to 7:00 p.m. Monday through Friday and from 8:00 a.m. to 1:00 p.m. on working Saturdays. Transactions initiated at a branch outside these hours will be processed on the next working day.

Things to Know About PNB NEFT and RTGS Transactions

You must know the following information about the PNB NEFT facility:

• NEFT online transactions for retail internet banking customers have a maximum limit of ₹2 lakh per transaction, within an overall per day funds transfer limit of ₹15 lakh.
• NEFT online and bulk NEFT transactions for corporate Internet banking customers do not have a maximum amount limit per transaction but must remain within the corporate Internet banking user’s authorized or defined limits.
• Customers can contact the NEFT Customer Facilitation Centre (CFC) or the bank’s help desk for non-credit or delays in crediting the beneficiary account.
• The bank’s official website provides details of its NEFT Customer Facilitation Centres and the contact details of the help desk.

PNB NEFT Form

The PNB Bank NEFT form includes the following sections:

• Date and branch details to specify when and where the transaction is initiated.
• Payment mode selection, including options for cash, cheque, pay order, or account debit.
• Remitter details, including name, account number, and type of account (Savings, Current, CC, or OD).
• Beneficiary details, including name, account number, bank name, branch name, and IFSC code.
• Transaction amount in figures and words, applicable commission charges and total amount.
• Cheque details, such as if the transaction is being processed through a cheque.
• The acknowledgement section is for official use and includes the transaction ID, receipt date, and request time.
• Applicant’s signature and contact details, including mobile number and address, for verification.
• Authorization section for bank officials to verify and process the transaction.

PNB NEFT Transaction Requirements

Before initiating a fund transfer using Punjab National Bank’s NEFT services, you must have the following information:

• Ensure that the NEFT service includes the details of both the sender’s and recipient’s banks.
• Provide the correct beneficiary information, including the beneficiary’s name,  account type, account number, name of the branch, and IFSC code.
• Add the beneficiary to your account before conducting a fund transfer through NEFT.

Final Word

PNB offers a reliable and convenient NEFT service for fund transfers, with the flexibility of online banking and mobile apps. Understanding the PNB NEFT charges and transaction details ensures hassle-free transfers.  While NEFT is accessible 24/7, it is crucial to know the timing, limitations, and fees associated with the service. Whether you are transferring funds to other banks, paying bills, or settling credit card payments, PNB’s NEFT service provides a seamless experience with transparent charges.

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