NEFT meaning, timing, limit, value, What and how?

Neft is very beneficial for money transfer from one place to another and more as

1. No visit to the bank is required, as long as a person holds a valid bank account.
2. Shortcomings of a physical instrument are easily overcome. This means that NEFT has completely omitted instances of physical damage to any monetary instruments, it’s theft or forging.
3. NEFT is simple and efficient. It can be done in under a minute’s time and hardly involves any major formality.
4. Confirmation of a successful transaction can be easily received and viewed through email and SMS notifications.
5. Internet banking can be initiated and conducted from any place. This means that a person does not need to be present at a particular location to make NEFT transactions.
6. Real-time transactions provide assurance to both parties.
7. No physical presence of either party is required to conduct a transaction. Also, no physical instrument needs to be transferred at any point in time, between the conducting parties, to conclude the transaction.
8. In the process of NEFT, you just have to enter the details of the beneficiary for the first time after which you can just select the beneficiary from the list, enter the amount and send it.

Why Neft is useful for you?

It is very useful for us because through Neft you can do many types of payment at home by online mode for an example

1. Personal fund transfer
2. payment of loans, EMI’S
3. Creditors payment
4. Have a legal record of a transaction that can be accessed at any time.
5. This comes in use, in case of any dispute between parties or between authorities.
6. Easy fund transfer
7. Proof of evidence of payment and more.
8. It is one of the most secure fund transfer options available
9. You do not have to issue a DD or cheque
10. The processing charges on NEFT transfers are very economical
11. It is an online facility that is faster than any other option

What is NEFT Timing?