ICICI Bank NEFT

ICICI bank webpage has a detailed write-up on the NEFT transactions and important guidelines for successful NEFT transaction are as listed below:

ICICI Bank NEFT Transfer TImings

• Please note that as per RBI guidelines no NEFT payments would be processed after cut-off timings i.e last settlement cycle.
• For NEFT there would be eleven hourly settlements starting from 9 am to 7.00 pm on all week days and five hourly settlements from 9 am to 1.00 pm on Saturdays.
• There are no settlement cycles on Sundays hence no transactions will be processed on this day.
• Cut off time for NEFT through Corporate Internet Banking is 6.30 pm on weekdays and 12.30 pm on Saturdays.

ICICI NEFT Charges

ICICI NEFT charges are as per approved charges authorised by RBI and is generally in the range of Rs 5 on which service tax is also levied. We only wish that govt removes the charges for undertaking NEFT transfer as im will make people inclined toward NEFT transfer and will reduce the traffci of clients visiting personally to the banks. Hope the above guidelines will help you to make a successful NEFT transaction and same timings rule can be applied more or less to RTGS.