ICICI Bank NEFT Charges 2025 – Updated Fees and Transaction Limits

This article will delve into the intricacies of ICICI Bank NEFT Charges in 2025, providing you with a detailed breakdown of the fees, transaction limits, and benefits of using NEFT (National Electronic Funds Transfer) for your financial transactions. Understanding these charges is crucial for making informed decisions and managing your funds effectively.

ICICI Bank NEFT Charges in 2025

As of 2025, ICICI Bank NEFT Charges vary depending on the mode of transaction. It’s important to note that NEFT charges of ICICI are applicable only for transactions initiated through ICICI Bank branches. Online NEFT transactions made via Net banking, iMobile Pay app, or Pockets app are free of cost.

Here’s a breakdown of the branch NEFT Transaction Charges:

These charges of NEFT in ICICI Bank are also applicable to NRI customers transferring funds via NEFT.

Transaction Limits for ICICI NEFT

ICICI Bank has set specific transaction limits for NEFT transfers, which vary based on the mode and timing of the transfer:

The maximum NEFT transaction limit per day is ₹10 lakh (₹20 lakh via iMobile Pay) between 1 am-7 pm. However, daily limits may vary for different accounts, so it’s best to check with ICICI Bank for your specific account limits.

ICICI Bank NEFT Timings

As per RBI guidelines, NEFT Timings have been extended to 24×7, 365 days a year. This means you can initiate NEFT transactions anytime, even on weekends and bank holidays. However, for branch transfers, NEFT is available only during working hours and not on bank holidays. Online NEFT transactions are processed in half-hourly batches at specific intervals throughout the day, with settlements typically occurring within 2 hours of initiation.

Tips to Minimise ICICI NEFT Charges

To reduce the charges of NEFT in ICICI Bank, consider the following tips:

• Use digital channels like net banking, mobile apps, or API for NEFT transactions to avoid branch charges altogether.
• If possible, group multiple small transfers into one larger transaction to minimise the number of transactions and associated fees.

How to Initiate NEFT Transfers in ICICI Bank

You can initiate NEFT transfers through various channels offered by ICICI Bank:

1. Branches of the Bank
2. Internet Banking
3. iMobile Pay
4. m.icicibank.com
5. Pockets app
6. icicibankpay

For online transfers, follow these steps:

1. Log in to your ICICI Net Banking Account.
2. Navigate to ‘Payments & Transfer’ and select ‘Fund Transfer’.
3. Click on ‘Add a Payee’ and choose ‘Other Bank Payee’.
4. Enter the beneficiary details, including name, account number, IFSC code, and branch.
5. Click ‘Add’ and then ‘Confirm’.
6. Authenticate the addition of the beneficiary using the OTP received.
7. Go back to the ‘Fund Transfer’ menu and select the registered beneficiary.
8. Choose your debit account, enter the transfer amount, and select NEFT as the payment method.
9. Review all the details and click ‘Confirm’.
10. Enter the OTP for final authentication and click ‘Submit’.

The beneficiary’s account will be credited as per the NEFT settlement timelines. For branch-based transfers, you need to visit the ICICI Bank branch with the necessary beneficiary details and fill up the NEFT form. The bank staff will guide you through the process.

Advantages of Using ICICI Bank NEFT

• Secure and reliable transactions backed by the RBI.
• Eliminates the need for cash or cheques.
• Suitable for high-value and regular fund transfers.
• Lower costs compared to other payment methods like RTGS or demand drafts.
• 24×7 availability via digital channels.
• Enables quick and seamless inward foreign remittances.

When comparing IMPS vs NEFT, NEFT is more suitable for larger transactions that don’t require immediate settlement, while IMPS is ideal for instant, round-the-clock, smaller-value transactions.

Comparison Table

Conclusion

Understanding ICICI Bank NEFT Charges is essential for managing your finances effectively. While there are certain fees associated with branch transactions, online NEFT transfers are free of cost. ICICI Bank offers a secure, reliable, and cost-effective way to transfer funds across India. By familiarising yourself with the charges, timings, and transaction limits, you can make the most of this payment system for your financial needs.

Frequently Asked Questions (FAQs)

1. Are NEFT transactions free for ICICI Bank account holders?

NEFT transactions are free for ICICI Bank account holders when initiated through digital channels like net banking, iMobile Pay app, or Pockets app. However, branch transactions attract NEFT transaction charges as per the fee structure mentioned earlier.

2. What are the NEFT charges for transactions below ₹10,000 in ICICI Bank?

For NEFT transactions up to ₹10,000 initiated through ICICI Bank branches, the charges of NEFT in ICICI Bank are ₹2.25 + GST.

3. Are ICICI NEFT charges waived for senior citizens or specific accounts?

As of 2025, there is no specific waiver of ICICI Bank NEFT Charges for senior citizens or particular account types. However, checking with the bank for any updates or special offers is always advisable.

4. What is the maximum NEFT charge for ICICI Bank transactions?

The maximum NEFT charges for ICICI branch transactions is ₹24.75 + GST, applicable for transfers above ₹2 lakh up to ₹10 lakh.

5. Is there any charge for failed NEFT transactions in ICICI Bank?

No, ICICI Bank does not charge for failed NEFT transactions. However, it’s essential to ensure that you enter the correct beneficiary details to avoid any failures or delays in the transfer process.