Canara Bank is one of India’s leading public sector banks, known for its strong digital banking services. Among these, NEFT (National Electronic Funds Transfer) is a widely used facility that allows customers to transfer money safely across bank accounts in India.
In this article, we will cover Canara Bank NEFT charges, timings, transaction limits, and how to transfer money step-by-step in simple language.
What is NEFT in Canara Bank?
NEFT is an electronic fund transfer system regulated by the Reserve Bank of India. It allows individuals and businesses to transfer funds between banks securely.
Transactions are processed in half-hourly batches (48 batches daily), and the amount is usually credited within 30 minutes to 2 hours depending on processing time.
Canara Bank NEFT Charges
NEFT charges depend on whether you use online banking or branch services:
1. Online NEFT Charges
- Internet Banking / Mobile Banking: FREE
- No charges for digital transactions as per RBI guidelines
2. Branch NEFT Charges
| Transaction Amount | Charges |
| Up to ₹10,000 | ₹2.25 + GST |
| ₹10,001 – ₹1 lakh | ₹4.75 + GST |
| ₹1 lakh – ₹2 lakh | ₹14.75 + GST |
| Above ₹2 lakh | ₹24.75 + GST |
These charges apply only when you initiate NEFT from a bank branch.
Canara Bank NEFT Timings
Online NEFT Timings
- Available 24×7, 365 days
- Works even on Sundays and bank holidays
Branch Timings
- Generally during banking hours (approx. 10 AM to 4 PM on working days)
NEFT operates in half-hourly batches, ensuring continuous processing throughout the day.
Canara Bank NEFT Limit
NEFT limits vary depending on the transaction mode:
| Mode | Minimum | Maximum Limit |
| Branch | ₹1 | No fixed limit |
| Internet Banking | ₹1 | Up to ₹10 lakh/day |
| Mobile Banking | ₹1 | Up to ₹5 lakh/day |
| Walk-in (Cash) | — | ₹50,000 per transaction |
Limits can be increased by contacting the bank or updating settings in net banking.
How To Transfer Money via NEFT in Canara Bank
You can transfer funds through internet banking, mobile banking (Canara ai1 app), or branch. Here’s the most common method:
Step-by-Step (Internet Banking)
1. Visit the official website: https://canarabank.bank.in/
2. Login to Net Banking account
3. Go to Funds Transfer → NEFT
4. Add beneficiary details:
- Name
- Account Number
- IFSC Code
5. Wait for beneficiary activation
6. Enter transfer amount
7. Confirm transaction using OTP
Save or download the receipt (UTR number)
The amount will be credited in the next NEFT processing cycle.
Key Benefits of Canara Bank NEFT
- Zero charges for online transfers
- 24×7 availability
- Safe and RBI-regulated system
- Suitable for both small and large payments
- Nationwide bank coverage
Important Tips for Users
- Always verify account number and IFSC code carefully
- Add beneficiaries in advance to avoid delays
- Use online banking to save charges and time
- Failed transactions are usually reversed within 1–2 working days
Conclusion
Canara Bank NEFT service is a secure, affordable, and convenient way to transfer money across India. With free online transactions, flexible limits, and 24×7 availability, it is ideal for both personal and business use.
To avoid extra charges and enjoy faster service, customers are advised to use internet or mobile banking instead of visiting a branch.
