One of the most convenient and simplest ways of fund transfer is NEFT (National Electronic Funds Transfer). Yes Bank with the NEFT facility allows an account holder to transfer the funds from the Yes Bank account to a beneficiary having an account in the same bank, another bank or another branch. Nowadays, account holders can make NEFT transfers online and offline as well by visiting the nearest bank branch. To make an offline NEFT transfer, the account holder needs to fill out Yes Bank NEFT Form and submit the amount in cash.
Checking Credit Report monthly has no impact on Credit Score Check Now
How to make offline NEFT transfers using Yes Bank NEFT Form?
An account holder can also initiate the NEFT transaction even if the internet banking and mobile banking facility are not activated. This can be done by filling the Yes Bank NEFT Form at any nearest bank branch.
The Yes Bank NEFT form can also be downloaded from the official website of the Yes Bank. You can visit the website and download the NEFT form. After downloading the form you will have to take a print of the same, fill in all the necessary details and submit the form at the Yes Bank Branch.
Details that need to submit in the Yes Bank NEFT form include:
- Account number of the beneficiary
- IFSC code of the beneficiary
- Name of the beneficiary
- Account number of the remitter
- Mobile number of the remitter
- Name of the remitter
These details are entered into the system for making the NEFT transfer online.
How to initiate NEFT through Yes Bank Internet Banking?
- Login to Yes Bank Retail Net Banking
- Click on “Other Bank Transfer – NEFT” on the left side of the navigation bar, under the Funds Transfer section.
- Fill necessary information like transfer amount, account number, IFSC Code, beneficiary name
- After these details are submitted, a unique transaction confirmation number is generated. This number can be used for any query related to the NEFT transfer.
Your Credit Score Is Now Absolutely Free
Check Now
Yes Bank NEFT Charges
The Yes Bank does not levy any charges on NEFT transfers initiated online via internet banking and/or mobile banking. However, a nominal amount is charged when the transfer is initiated at the bank.
- These charges are per NEFT transaction.
- The charges are levied only on the outward transaction.
- The inward transactions are free of cost.
Following are some of the charges for the outward transaction:
| Transaction Amount | Yes Bank NEFT Charges* |
| Up to Rs.10000 | Rs. 2.50 per transaction |
| Rs. 10001- Rs.1 lakh | Rs.5 per transaction |
| Rs. 1,00,001 to Rs 2 lakh | Rs.15 per transaction |
| Above Rs.2 lakh | Rs. 25 per transaction |
*The charges do not include GST and other taxes if applicable.
Yes Bank NEFT Timings
As per the guidelines from the RBI, an account holder can access the NEFT account on the following timings:
The settlement of the NEFT account is done on a half-hourly basis. Forty-eight half-hourly batches run from 00:30 hours to 00:00 hours every day.
- The NEFT transactions can be done 24*7, 365 days at Yes Bank
- The amount is directly debited from the bank account after confirmation
- NEFT transactions after usual banking hours of banks are expected to be automated transactions initiated using ‘Straight Through Processing (STP)’ modes by the banks
- One should ensure that a sufficient amount is available for the NEFT transfer, in case the transaction is failed it is recommended to check the account balance and then try again later
Benefits of using Yes Bank NEFT Service
- It is the most convenient option to carry out fund transfer while you are outdoors.
- It is a most reliable option as it is monitored by Reserve Bank of India
- There is no minimum or upper limit for the NEFT transfer amount
- The charges for NEFT Transactions are very nominal as compared to other modes of fund transfer.