NEFT clearing time?

2

2kewl

Disciple
Hey Guys,

How much time does it take for a NEFT transfer to be completed? I had transferred money from my HDFC a/c to an ICICI a/c at about 3 pm yesterday and it hasn't been credited yet. I've already sent a mail to the bank. Do you guys have any idea as to how long it might take?
 
This process usually takes about 2 days. the bank first sends it to RBI for some processing and then its credited to ur target account.

the time at which u transfer also matters. if u make the transfer before 12noon or 2 pm (differes from bank to bank), then it is sent to RBI for processing on the same day. else its next day as it is in your case, since u made a transfer at 3pm.

as i understand, the amount would be credited in ur ICICI bank account tomorrow 31st.
 
Same day if done before 11.30 for the same bank.

Next day if done before 11.30 for different bank or after 11.30 for the same bank.

Next to next day if done after 11.30 for different bank.

The last few days have had quite a few bank holidays, that could have delayed your payments if you are tracking a transaction.
 
The maximum time limit for a NEFT transfer to be cleared is 4 working days. If at the end of 4 days the transaction does not materialize due to any reason, the amount will be credited back to your account.
 
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