varkey
Skilled
Some not so popular banks also give free NEFTs. I have an account with City Union Bank and they give unlimited NEFT for free!
Which Bank To Prefer For Online Money Transfer ?
- Thread starter divyesh2129
- Start date
varkey
Skilled
They are pretty fast, never noticed much of a delay. Adding a new payee also is straightforward and is active immediately.
divyesh2129
Adept
Thanks for guys for helping me
I am having just one query it is compulsory to keep minimum 10k amount for NEFT transfer ??
I am having just one query it is compulsory to keep minimum 10k amount for NEFT transfer ??
Minimum balance depends on the bank and the kind of account.
ICICI B2B has min balance 0, whereas HDFC savings account min balance is 10K
It is not compulsary to maintain Rs.10K as Min balance for NEFT txn, however most Pvt. Sector banks like ICICI, HDFC have a min AQB condition that Rs.10K must be maintained in a savings account.
HDFC have a No-Frills Account facility where you can have a 0 Balance account, but condition is you must not have any bank account anywhere else in India, you get Online Banking facility too, but a No Frills acccount for ICICI bank does not have Online Banking facility for it, however you can go for B2 Banking from ICICI.
Lastly for good overall & probably your first bank account, you must get SBI, its reliable & much better than rest of banks, its Online Banking facility is also excellent & secure, just addition of Beneficiary (i.e Adding a new account for funds transfer takes) a while 6-8 hrs for confirmation. Overall SBI is an All Rounder in Banking Sector.
Rising Star
Novice
go for ICICI and sbi accounts the first one is best for online banking and second one is good for branch banking.
Harpy.eagle
Adept
i had opened zero balance non salaried normal icici saving account i.e. with all online banking, cheque book, ATM/ debit card probably 4 yrs ago.
There was a scheme going on that time (may be valid now also). i.e. On opening sharekhan demat account, one get this zero balance icici account free
. So i had subscribed to sharekhan only on this condition and never used it (sharekhan account i mean).
And online NEFT transfers are free too in this account ( shall confirm again)
There was a scheme going on that time (may be valid now also). i.e. On opening sharekhan demat account, one get this zero balance icici account free
And online NEFT transfers are free too in this account ( shall confirm again)
Just found that Citibank has launched a new no frills account. ZERO balance and free NEFT, and ATM-card. I would strongly recommend getting this if available.
http://www.online.ci...erCode=LFTNVBNK
However, one has to issue a deposit of 100 bucks to open the account (to be credited into the account)
http://www.online.ci...erCode=LFTNVBNK
However, one has to issue a deposit of 100 bucks to open the account (to be credited into the account)
#varkey, I know their regular savings account requires the 3lac cheque. But this is a different account. They have also introduced a Citibanking Account which requires a 2 lac savings. The No Frills doesn't require any of that.
The main 'catch' is that you don't get a Relationship Manager. Not a big downer I feel
The main 'catch' is that you don't get a Relationship Manager. Not a big downer I feel