Advantages of NEFT
- NEFT is an easy, secure and quick online money transfer system.
- It is convenient to use NEFT for transferring funds to any bank account.
- NEFT operations are available 24/7 which makes it very convenient.
- No limit on the amount of money that can be transferred through NEFT.
Disadvantages of NEFT
- Sometimes it may take up to 24 hours for the money to be transferred.
- The maximum amount that can be transferred per transaction is Rs.2 lakh.
- It is not possible to transfer large amounts of money through NEFT.
- Some banks may charge a fee for using NEFT.