Monday, November 27, 2017

National Electronic Funds Transfer (NEFT) : Everything you Need to Know Before Money Transfer Online

National Electronic Funds Transfer : Send your Money Online

Learn what are best online money payment methods.Are you searching "What is National Electronic Funds Transfer"... If YES... Then read more about NEFt, a national-wide secure and fastest electronic money transfer method.

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What is National Electronic Funds Transfer

Read now to know more about How to use NEFT for your money transfer on online in a fastest and secure way.

money transfer through neft
Learn more about national fastest and secure money transfer

What is National Electronic Funds Transfer?

National Electronic Funds Transfer (NEFT) is one of the fastest online fund transfer system from one account or bank to other account or bank. It is the best countrywide payment system that allows us to one to one based electronic funds transfer. NEFT maintained by Indian reserve bank (RBI). It is based on a deferred settlement basis that means the fund is transferred in batches. There are 12 settlements between 8 am to 7 pm on working days and 6 settlements between 8 am to 1 pm on Saturdays.

Why to Prefer NEFT Transfer?

NEFT allowing most quickest and secure electronic money transfer method than alternates to NEFT fund transfer.

What Alternate to NEFT Fund Transfer?

There are a number of alternate Ways to Transfer Funds from one bank to other bank (NEFT enabled). The national money transfer ways including:
  1. Immediate Payment Service
  2. Instant Money Transfer
  3. Electronic Clearing Service
  4. Visa Money Transfer
  5. NEFT
  6. RTGS
  7. IFS Code

How NEFT Works?

NEFT allow you to electronically transfer fund from any bank branch to any other bank branch in the country. But before you transfer payment makes sure your bank has to be NEFT enable. If your bank not providing NEFT service then you cannot use this service. You can find the list of bank branches which are participating in NEFT service from reserve bank of India website.

NEFT Money Transfer

The NEFT is allowing electronic fund transfer from India to Nepal (one-way only) and is well-known as the Indo-Nepal Remittance Facility Scheme.

What are NEFT Transaction Timings?

Here are best time for money transfer through NEFT. The NEFT transaction timings are 8:00 AM to 6:30 PM every Monday to Saturday but except every month’ 2nd and 4th Saturday.  NEFT not allowed on Sundays and bank holidays.

How much can be transferred?

There is no limit either minimum or maximum on the number of funds that could be transferred using NEFT. You can even transfer Rs. 1. However, individual banks may set a limit. For example, State Bank of India has capped the maximum NEFT fund transfer amount Rs. 10 lakh.

Service Charges for NEFT

For inward transactions at destination bank branches is completely free. The NEFT transfer charges are as follows.

For outward transactions at originating bank branches

Transactions up to Rs.10,000 - Rs.2.50 (+ GST)
Transactions above Rs.10,000 to Rs. 1Lakh - Rs.5 (+ GST)
Transactions above Rs. 1 lakh to Rs. 2 lakhs - Rs.15 (+ GST)
Transactions above Rs. 2 lakh - Rs.25 (+ GST)

Also Read: How To Check SBI Bank Balance

Benefits of Using NEFT

• You do not need to send the cheque or Demand Draft.
• Cost effective method.
• Fully securely transfer funds to beneficiary bank account.
• You receive message and email when fund credited to account.

Limitations of NEFT

You cannot transfer funds at any time you want. NEFT, not instant fund transfer service it takes up to two hours for funds credited to your beneficiary account. This service is only available on bank working days so you cannot transfer fund on weekends and bank holidays.

How to Transfer Using NEFT

• First login to your internet banking account.
• Add the beneficiary to whom you want to transfer fund. For add beneficiary, you need a name of person, bank account number, IFSC code of the branch. You can find IFSC code from the internet and also you can visit your branch.
• After adding beneficiary you need to wait for a minimum half hour and maximum four hours for verifying this beneficiary detail.
• After verify you can transfer funds through NEFT and go to Transfer Funds option, select the beneficiary and enter the amount you want to transfer and last click on transfer. (You also get one-time password for security).
• That's it your money will be transferred to the beneficiary bank account when the next settlement is scheduled.

Final Words:

Article: What is National Electronic Funds Transfer

I hope guys you can find all the details about NEFT and how it works in this article. If you this article neft fund transfer and money transfer process is very helpful for you then don't forget to share with your friends. And one more thing if you have any questions about this article then feel free to comment below. I definitely reply to your question within 24 hours.

Saturday, October 7, 2017

Obtain a Small Business Loan : Business Loan Guide

Types of Business Loans - Apply for your loan

Small business owners need funding for starting their businesses as well as for meeting the costs of business expansion or acquisition and capital investment.

Besides, you need capital to run your business in streamlined manner. These loans are provided to an enterpreneur on the basis of certain set rules and regulations. One can avail these loans from banks, personal investors or through various other lending sources depending on his or her eligibility and feasibility.

How to get a business loan

Looking fastest way to get a business loan? are business loans easy to get? Here is the business loan guide on getting business loans fast from banking or non fin organizations.

Read this business loans articles to understand what kind of loans can you get from a bank or non fin firms. Before issueing the loaning amount, banks or non financial organizations carefully research about credit history of a loan borrower.

How to make your business more eligibility for loans

How to qualify for a small business loan.Are you looking to find answers for your FAQs about loaning.  Business loans qualification needed consideration for a combination of various business related criteria such as nature of business, business operation and credit score etc.

You need to develop a business plan for loan. Your business plan should be professional, effective and simple about your strategies and operations of your startup or business. Do you know what are small business loan requirements. Personal loans are completely differ from business loans.

Get business loans fast for your small business

Secured Business loans
Unsecured Business loans
Trade loans
Professional loans
Short term business loans
Intermediate business loans
Long term business loans

Friday, August 22, 2014

Secure your Future with Saving Investment Plans India

Secure future with money saving investment and with proper short term and long term financial goals. Many people think that savings are safest and enough to earn additional money in addition to regular income through job or business and other sources etc. There are a number of saving investment plans to save and invest money to improve your daily life depending on your financial, wealth building goals. But many citizens focus on savings schemes instead of money investments.

In their view money saving in saving bank accounts and fixed deposits, recurring deposits, security bonds etc. are very very safer sources to attain next level of financial position to meet future requirements and expenses. They are thinking that investment plans are very boring ones and somewhat complicated, high risk oriented than safer sources.

Indian Saving and Investment Plans are best sources to become millionaire and wealthy person if you are with effective investment strategy and selection of best suitable short term saving plans and long term savings schemes. Your financial career management requires a perfect financial investment strategy. The blind money investment is can results in no guarantee for your secure future and unhappy financial career.

A lot of Indian people are still preferring and treating that fixed deposits and saving bank accounts are very very safest sources in money saving for future needs and future financial career. Most of the investors are ignoring the money making opportunities with higher returns for secure future career. Many wealth building sources, monthly income resources are still not realized by many short term investors and long term investors even India share stock market traders. 

In India, there are many financial investment instruments are available to put money to earn high returns and to create wealth with right investing strategy. Shares, Stocks, Bonds, Commodities, Forex, Future, Options, Fixed deposits, PPF, FTP etc. Find here is a list of saving plans India for short term investment and long term investment sources. Most of Indians and retired elder people are prefer high interest rate based schemes and plans to invest money for future days.

How to Secure your Future with Financial Planning and Wealth Investment

Segregate yours all your expenses and investment options for future days security. Divide the all inputs into 2 categories. This can help you to reach yours short term inputs and long term inputs with proper financial strategy with money saving investment opportunities. All minor and major financial expenses are to include to consider your achieve your best financial health position. Yours present expenses are not same with yours future expenses. So secure your future days with perfect financial strategy.

You must have 2 types of financial inputs for your present and future income sources. Namely they are 1) Profit and Loss Account and 2) Balance Account.

Inputs for Profit and Loss Account

  • Include of daily or monthly expenses or payments and income amount.
  • Add your short term investment sources
  • No guaranteed of fixed amount
  • Fluctuation depends on multiple reasons
  • Requires low to medium investment
  • Future returns are not-guaranteed if invested
  • Not secures your future life
Inputs for Profit and Loss Account 
  1. Monthly salary
  2. Debt
  3. Saving amount
  4. Additional revenue
  5. Bike or car expenses
  6. House rent
  7. Family expenses
  8. School fee
  9. Medical expenses
  10. Transport charges etc.
  11. Shopping
  12. Credit card bill payment

Inputs for Balance Account

  • Includes of annual (long-term) generally includes of monthly or yearly expenses or payments and income amount.
  • Add your Long term investment sources
  • Fully guaranteed of fixed amount
  • Fluctuation depends on very less factors
  • Requires bulk investment
  • Future returns are guaranteed if invested
  • Secures your future life
 Inputs for Balance Account
  1. Property
  2. Land
  3. gold
  4. PPF
  5. Apartment purchase
  6. Child education
  7. Retirement plans
  8. Children marriage
  9. House construction
  10. Rentals
  11. Business planning
  12. Life insurance payment
  13. Medical health insurance payment
This article is developed after conversation with Edem. Prashanth Kumar, a senior accountant in globally reputed Organization in information security certification. Prashanth has working knowledge in Tax Saving, Money Saving, and Corporate, Individual investment. is saying "Thanks to you... Prashanth Kumar" for your tax saving tips and money saving ideas...