PNB NEFT Charges - Limits, Timings and Process

PNB, also known as Punjab National Bank, offers a reliable and convenient National Electronic Funds Transfer (NEFT) service to facilitate seamless fund transfers for its customers. When using the NEFT facility, customers can transfer money to any bank account in India, making it an ideal choice for interbank transactions. However, it is essential to know the applicable PNB NEFT charges before making a fund transfer.

These charges may vary based on the transaction amount, timing, and whether the transfer is initiated online or offline. By understanding the NEFT charges of PNB, customers can make informed decisions while availing of this secure and efficient fund transfer service.

PNB NEFT Charges 2024

Punjab National Bank levies charges on every NEFT transaction made through the branch. For online NEFT transfers, the bank does not imply any charges.

Here are the latest NEFT Charges of PNB for different transaction amounts (if done through the bank branch):

Transfer Amount

NEFT Charges PNB

Rs. 10,000

Rs. 2.00 + GST

Rs. 10,000 - Rs. 1,00,000

Rs. 4.00 + GST

Rs. 1,00,000 - Rs. 2,00,000

Rs. 12.00 + GST

More than Rs. 2,00,000

Rs. 20.00 + GST

 

How to Add a Beneficiary for PNB NEFT Transfer?

One can refer to the following steps to add a beneficiary for PNB NEFT transactions:

  • Step 1: Log in to the PNB online banking portal by entering your username and password.
  • Step 2: Go to 'Transactions,' then 'Beneficiary Management,' and finally, 'Manage Beneficiary'.
  • Step 3: Select the 'Add NEFT Payee' option from the 'Manage Beneficiary' menu.
  • Step 4: Fill in the beneficiary information and click 'Validate' to validate the account number. Select the 'Continue' button.

Prerequisites of PNB NEFT Transaction

The following are the prerequisites for completing the fund transfer using Punjab National Bank NEFT services:

  • The NEFT service should include details of both the originating and destination banks.
  • Beneficiary information such as the beneficiary's name, account number, account type, branch name, branch IFSC, and account type should be included.
  • Before conducting a fund transfer via NEFT, you must add the beneficiary to your account.

How to Transfer Funds through PNB NEFT Transaction?

One can make PNB NEFT fund transfer either through an online banking platform or through the PNB Bank branch:

1) NEFT Transfer through NEFT Online Banking

Given below are the steps that must be followed for Punjab National Bank online NEFT fund transfer: 

  • Step 1: First, go to the PNB website. Provide the username and password to access the online banking portal.
  • Step 2: Go to 'Transactions,' then click on the NEFT tab under the 'Transfer to Other Bank Accounts' option.
  • Step 3: The customer will be sent to the 'Initiate Simple Payment' page. Fill in the beneficiary account number, amount to be transferred, transaction date, frequency type (one-time, etc.), and any remarks below.
  • Step 4: Select the 'Continue' option.
  • Step 5: You will be directed to the 'Initiate Single Entry Payment Confirmation' page. The customer can re-confirm the details, enter the transaction password, and click the 'Submit' button here. If any details are incorrect at this point, click the 'back' button to correct them.
  • Step 6: If the transaction is successful, it will be displayed on the screen, along with a reference number for the customer. For future reference, the confirmation message can also be saved as a PDF. If necessary, it can also be mailed to the recipient by selecting the 'Send Mail' option.

2) PNB NEFT Offline Transfer through Branch

To carry out NEFT transactions offline in PNB Bank, one  must visit the bank branch and follow the instructions provided below:

  • Step 1: Fill out the PNB NEFT form and provide the beneficiary details. 
  • Step 2: Enter all the details and submit the form at the counter.
  • Step 3: The bank executive will provide a receipt to the user once the NEFT transfer is successful.
  • Step 4: A confirmation notification or message will be sent to the mobile number specified in the PNB NEFT form.

PNB NEFT Timings

PNB NEFT services are now available 24 hours, seven days a week. It will be available to users every day of the year, including holidays.

  • Every day, there are 48 half-hourly batches. The first batch is settled after 00:30 hours, while the last batch is settled at 00:00 hours.
  • After-hours NEFT transactions are automated transactions started by banks using 'Straight Through Processing' modalities.

Please remember that walk-in customers can only use NEFT services of PNB during banking hours. 

To learn more about your branch's banking hours, call the branch and request information. Banks are closed on the second and fourth Saturdays of each month. As a result, NEFT services are unavailable on these days and bank holidays.

PNB NEFT Limit

Transaction Type

Minimum

Maximum

NEFT of PNB

-

Rs. 500 lakhs

Eligibility of PNB NEFT Transactions

All Punjab National Bank account holders are automatically eligible to perform NEFT transactions. Clients who do not have a PNB account or have not yet activated online banking can do so by making a transfer from the branch by filling out the PNB NEFT form. However, ensure that the beneficiary has an NEFT-enabled bank account before making a transfer.

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