NEFT (National Electronic Funds Transfer)

Need to transfer money securely and efficiently? NEFT (National Electronic Funds Transfer) is a trusted electronic funds transfer system introduced by the Reserve Bank of India (RBI) to facilitate seamless transactions across banks. Whether it's sending money to a loved one or making a business payments, NEFT ensures a reliable and convenient way to transfer funds between banks anywhere in India.
With round-the-clock availability (24x7) and multiple daily settlement batches, NEFT offers flexibility while maintaining security and speed. South Indian Bank enables NEFT transactions through SIB Mirror+ (Mobile Banking), SIBerNet (Internet Banking), and branch-assisted services.

Accessible Anytime, Anywhere – Available 24x7 through internet and mobile banking, ensuring round-the-clock fund transfers
Efficient for Recurring Payments – Ideal for salary payments, EMI transfers, insurance premium payments, and bill payments, ensuring hassle-free transactions
Supports Multiple Transaction Types – NEFT can be used for personal transfers, business payments, vendor settlements, and government transactions
No Risk of Loss or Theft – Since NEFT is fully digital, there is no risk of physical loss like in the case of cheques or cash payments
Operates Across All Banks – Works across all NEFT-enabled banks in India, facilitating easy fund transfers between different financial institutions
Secure & Encrypted Transactions – NEFT transactions are highly secure, using encryption and multi-layer authentication to prevent fraud
Auto-Reversal in Case of Failure – If a transaction fails due to incorrect details or technical issues, the amount is automatically refunded within 1 working day
Convenient for NRIs – NRIs can use NEFT for fund transfers to Indian accounts through their NRE/NRO bank accounts

Online Transactions (SIB Mirror+ SIBerNet): Available 24x7, including weekends & holidays
Branch-Assisted NEFT: Timings depend on branch working hours
Transaction Processing: NEFT transactions are settled in half-hourly batches throughout the day

Mobile Banking – SIB Mirror+	Log in to SIB Mirror+ App Navigate to Fund Transfers > NEFT Enter the beneficiary details (Account Number, IFSC, Amount) Authenticate the transaction using MPIN Receive instant confirmation
Internet Banking – SIBerNet	Log in to SIBerNet Click on Fund Transfer > NEFT Select the beneficiary or add a new one with IFSC & account details Enter the amount and submit the request Verify with OTP for secure processing
Branch-Assisted NEFT Transfer	Visit the nearest South Indian Bank branch Fill out the NEFT Funds Transfer Application Form Provide a cheque for the transfer amount (if applicable) The bank will process your request, and the funds will be transferred within the next settlement cycle

Frequently Asked Questions

Get answers to your queries

NEFT is an RBI-regulated payment system that allows individuals and businesses to transfer funds electronically between any two NEFT-enabled bank accounts. Transactions are processed in half-hourly settlement batches.

Yes, NEFT is available 24x7 for online transactions via SIB Mirror+ and SIBerNet. However, branch-assisted transactions depend on bank working hours.

There is no minimum or maximum limit for NEFT transactions, making it ideal for both small and high-value transfers.

NEFT transactions are settled every 30 minutes, ensuring timely fund transfers. Most transactions are completed within 2 hours.

Yes, you will receive SMS/email alerts after the transaction. You can also check the transaction status in SIB Mirror+ or SIBerNet.