4,80,000 people visited this section in last 30 days. Apply Online

Get Cashback of Upto ₹ 1,000* on Loans Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Citibank NEFT

Citibank NEFT Details

Last Updated 08th Jun 2021

Citibank NEFT is the inter-banking facility based on Deferred Net settlement under which transactions are credited in hourly batches for all the requests received in 30 minutes.

Citibank NEFT Transfer Modes Offline- Bank Branch
Online- Mobile/ Net Banking
Citibank Fund Transfer Limit Bank Branch- No Limit
Mobile/ Internet Banking- ₹25 Lakhs
Citibank Fund Transfer Charges Mobile/Internet Banking- Nil
Bank Branch- Nil
Citibank Fund Transfer Timings 24*7
Apply for Savings Account

Citibank National Electronics Fund Transfer - Citibank NEFT

Citibank, which is one the leading Foreign Bank also provides an electronic method of fund transfer through internet banking by various modes such as NEFT, RTGS and IMPS. If you want to transfer funds through Citibank NEFT, you need to have required bank details, including the IFSC code of the recipient's Bank. There is no cap on the minimum and maximum amounts of funds that can be transferred. However, in cases when there is in-person cash-based remittance within India, the maximum cap is ₹ 50,000.

How Does Citibank NEFT Work?

Citibank NEFT or National Electronic Funds Transfer is the inter-banking facility maintained under RBI to transfer funds within the country. It is based on Deferred Net settlement which means the amount is credited in hourly batches along with the other payments for all the requests received in 30 minutes.

How to Transfer Funds through Citibank NEFT to Another Bank Account?

To transfer funds through Citibank NEFT to another bank account, you need to follow the below-mentioned steps:

  • Next, click on "To Other Bank Account"- "Make Payment Now" in front of the payee name and select "Immediate Transfer (IMPS)" mode to transfer funds using IMPS method.
  • If you want to make payment using NEFT/RTGS method, enter details of the beneficiary bank, branch and location or provide the IFSC code, to identify the destination branch.
  • Now, choose the account, enter the amount, and click on "Continue".
  • Now under the Banking tab click on "Transfer Funds" from the sidebar.
  • Now the bank will send an OTP. Use the OTP to authorize the payee and complete the transaction.
  • Accept the terms and conditions and now click on the "Confirm" option.
  • Login to Citibank online and enter information such as payee account number and IFSC code to add as a payee.

How to Pay Credit Card Bill Payment Through Citibank NEFT?

To make credit card bill payment through Citibank NEFT, follow the below-mentioned steps:

  • Firstly log in to the internet banking account by entering your user name and password.
  • Add your credit card as the beneficiary to make the credit card bill payment. You can find this option under third party transfer.
  • Now, provide the IFSC code of the credit card and enter the 16-digit Citibank Credit Card number in place of the account number.
  • Next, enter the bank name and enter the bank address of the credit card company/bank and click the submit button to make payment.

Citibank NEFT Fees & Charges

There are no transfer charges to receive money through NEFT. However, the person doing the transactions may have to bear certain charges depending on the Bank. The NEFT money transfer facility is available for NRE/ NRO accounts in the country.

Transaction Type NEFT Charges
Mobile and Internet Banking Nil
Bank Branch Nil

Required Details to Proceed NEFT Transaction

To transfer funds through Citibank NEFT, you would require the following details.

  • Name of the beneficiary
  • Amount to be transferred
  • Customer’s account number
  • Name of the beneficiary’s Bank
  • IFSC code of the Bank’s branch
  • Account number of the person making the payment.

Citibank NEFT Timings

You can transfer funds through Citibank through mobile/internet banking or by visiting the bank branch. The users can transfer funds through NEFT, as mentioned below:

Banking Days NEFT Timings
Monday to Friday & Working Saturday 24*7

Citibank NEFT Limits

As per the RBI guidelines, there is no cap on minimum amount and maximum for fund transfer through Citibank NEFT. However, you can transfer up to ₹ 25 Lakhs on Citibank NEFT, through Citibank Internet Banking.

Benefits of Using Citibank NEFT

The system of NEFT fund transfer provides the following features and benefits for fund transfer to the customers:

  • NEFT Limit: There is no minimum limit for fund transfer under NEFT.
  • Transfer Modes: You can transfer funds through NEFT by offline and online methods. To transfer funds offline, you need to visit the bank, and you can also transfer funds through net banking.
  • No risk: As all NEFT transactions in India are regulated by the RBI, hence making it a highly reliable channel.
  • Reliable and efficient process: It is very easy and convenient to transfer funds through Citibank NEFT.
  • Cost-effective: The processing fee and charges are very low for Citibank NEFT and hence is one of the most common channels to send funds.

FAQs

What is the charge for Citibank NEFT?

If you want to transfer funds through Citibank NEFT, you need to bear charges based on your transaction amount. While the charges for NEFT fund transfer through mobile/internet banking are Nil, you need to bear transaction charges of Nil, if you want to do NEFT fund transfer through Citibank branch.

What is NEFT transfer in Citibank?

Citibank, which is one of the leading Foreign Bank, provides an electronic method of fund transfer based on deferred net settlement wherein the amount is credited in hourly batches along with the other payments for all the requests received in 30 minutes.

How much time does it take for NEFT transfer in Citibank?

All transactions done through Citibank NEFT are credited in hourly batches. So all requests received in 30 minutes are credited together.

How much money can be transferred through Citibank NEFT in a day?

There is no limit for the minimum and maximum amount that can be transferred through Citibank NEFT.


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 9.35%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...