Canara Bank NEFT Charges 2025

As one of India’s leading public sector banks, Canara Bank offers a reliable and efficient fund transfer service through NEFT (National Electronic Funds Transfer). With the growing adoption of digital banking solutions, NEFT has become a preferred mode of transferring money for Canara Bank customers. Understanding NEFT charges is essential, as they impact transaction costs and help customers manage expenses. In this article, we will delve into the details of Canara Bank NEFT Charges, benefits, timings, and the process to initiate an NEFT transaction in 2025.

Detailed Breakdown of Canara Bank NEFT Charges 2025

When it comes to NEFT charges of Canara Bank, the bank follows a slab-wise structure based on the transaction amount. Here’s a detailed breakdown of the Canara Bank NEFT Charges for the year 2025:

It’s important to note that:

• These NEFT charges for Canara Bank are applicable for both online and branch transactions.
• GST (Goods and Services Tax) is charged at 18% on the NEFT Transaction Charges.
• Canara Bank does not levy any additional charges apart from those prescribed by the Reserve Bank of India (RBI).
• Canara bank charges for NEFT transactions between Canara Bank accounts through Internet banking are waived off.

Over the years, Canara Bank has optimised its NEFT charges structure to ensure affordability and accessibility for its customers, making it cost-effective even for small-ticket size transactions.

Timings of Canara Bank NEFT Transactions

Canara Bank’s NEFT Timings are in sync with the RBI guidelines. NEFT operates in hourly batches, with 12 settlements on weekdays (Monday to Friday) between 8 AM and 7 PM, and six settlements on Saturdays between 8 AM and 1 PM.

The cut-off timings for NEFT transactions at Canara Bank are as follows:

• Monday to Friday – 6:30 PM
• Saturday – 12:30 PM
• Sunday – Not available

Transactions initiated after these cut-off times are processed in the next available batch. For example, if you initiate an NEFT transaction at 7 PM on a Friday, it will be processed in the first batch at 8 AM on the next working day.

While Canara Bank offers 24×7 NEFT transactions through net banking and mobile banking, the actual credit to the beneficiary’s account occurs only during working hours as per the settlement batch timings.

How to Make an NEFT Transfer with Canara Bank?

Initiating an NEFT transfer with Canara Bank is a simple and user-friendly process. Here’s a step-by-step guide:

1. Log in to your Canara Bank net banking account using your credentials.

2. Navigate to the ‘Payments/Transfers’ section and select the ‘NEFT’ option.

3. Choose the account from which you wish to send the money.

4. Enter the beneficiary’s bank account details, including:

• Beneficiary name
• Beneficiary account number
• Beneficiary IFSC code
• Beneficiary bank name and branch

5. Input the amount to be transferred and add an optional remark.

6. Carefully review all the entered details and confirm the transaction using an OTP if required.

7. Upon successful completion, you will receive a reference number for the NEFT transaction.

The funds will be credited to the beneficiary’s account in the next available settlement batch. It’s crucial to ensure that you enter the correct beneficiary account details, as NEFT transfers cannot be reversed once processed.

How to Use NEFT on the Canara Bank Mobile App?

Canara Bank’s mobile banking app offers a convenient way to initiate NEFT transactions on the go. Here’s how you can use it:

1. Launch the Canara Bank mobile app and log in using your credentials.
2. Tap on the ‘Funds Transfer’ option and select ‘NEFT’.
3. To add a new beneficiary, enter the required account and IFSC details.
4. Input the transfer amount, verify the details, and authenticate the transaction using the OTP sent to your registered mobile number.
5. Your NEFT transaction will be processed, and you will receive a confirmation message.

Conclusion

NEFT through Canara Bank is a reliable, secure, and cost-effective way to transfer funds across India. With its user-friendly interface, affordable Canara Bank NEFT Charges, and wide network, it has simplified fund transfers for customers. By understanding the benefits, timings, and processes of NEFT transactions, you can make informed decisions and manage your finances efficiently in 2025 and beyond.

Frequently Asked Questions (FAQs)

1. What is the NEFT limit per day in Canara Bank?

There is no upper limit on the amount that can be transferred through NEFT in Canara Bank. However, for cash-based remittances within India and to Nepal under the Indo-Nepal Remittance Facility Scheme, the maximum amount per transaction is limited to ₹50,000.

2. Why opt for Canara BANK NEFT?

Canara Bank NEFT offers several benefits, including:

• Safe and secure transactions through the RBI’s platform
• Convenient fund transfers using net banking or mobile banking
• Cost-effective charges compared to other modes like demand drafts
• Wide reach, enabling transfers to any NEFT-enabled bank branch in India
• Round-the-clock availability, including holidays

3. How to increase the NEFT limit in Canara Bank?

There is no need to increase the NEFT limit in Canara Bank as there is no upper cap on the transfer amount. However, for cash-based remittances, the maximum limit per transaction is ₹50,000.

4. How much is NEFT in Canara Bank?

The Canara Bank NEFT Charges for the year 2025 are as follows:

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

5. How to check Canara Bank NEFT status?

To check the status of your Canara Bank NEFT transaction:

1. Log in to your net banking account or mobile app.
2. Go to the ‘Transactions’ or ‘Statement’ section.
3. Look for the specific NEFT transaction using the reference number or date.
4. The status of the transaction will be displayed, indicating whether it is successful, pending, or failed.

6. Can I transfer funds from Canara Bank to any other bank using NEFT?

Yes, you can transfer funds from your Canara Bank account to any other bank account in India that is NEFT-enabled. The wide network of NEFT allows seamless interbank fund transfers.

7. How do I track my NEFT transactions at Canara Bank?

To track your NEFT transaction at Canara Bank, follow these steps:

1. Log in to your net banking or mobile banking account
2. Go to the ‘Transactions’ or ‘Statement’ section
3. Locate the specific NEFT transaction using the unique reference number
4. Check the transaction status and other relevant details

You will also receive SMS and email notifications regarding the debit and credit of funds for your NEFT transaction.