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Money Transfer

NEFT

You may use this option to transfer funds to any Third Party (Beneficiary) holding an account with a bank other than Kotak Mahindra Bank, if the beneficiary's bank participates in RBI National Electronic Funds Transfer (RBI - NEFT). These funds transfers are executed using Reserve Bank of India's InterBank Transfer Scheme.

Channels for doing NEFT:

Net Banking
Mobile Banking
Branch

24X7 NEFT facility for Net / Mobile banking
As per the RBI circular* dated December 6, 2019 the NEFT facility will be available 24x7 via Net / Mobile banking w.e.f. December 16, 2019. So, you can send and receive funds at your convenience.

The cut-off / transaction limit for via Net / Mobile banking will be as follows:

Transaction Timings	Transaction Limit
12:30 am to 9:30 pm	You continue to enjoy your existing limits
9:30 pm to 11:30 pm	You can now transfer up to Rs. 10,00,000^
11:30 pm to 12:30 am	No transactions can be initiated

The transaction limits will be reset daily after midnight 12:30 a.m.
The one time fund transfer facility of Rs. 1,00,000 per day on Mobile Banking & Rs. 50,000 per day on Net Banking (combined limit of Rs. 1,00,000) has now been extended until 11:30 p.m.
The CMS NetIT facility continues to be available till 9.00 p.m. on all days including holidays.

Please note:

Branch NEFT transfer timings remain unchanged.
Your account will be debited online.
Requests received before 11:30 pm IST on all days will be sent by us to RBI in the respective clearing cycles.
The time taken to credit the Beneficiary's account will be dependent on the time taken by the Beneficiary's Bank to process the payment.
Please ensure you have updated to the latest version of the Kotak Mobile Banking App to start transferring through NEFT 24X7.
Payments can only be made via Net Banking, Mobile Banking and Branch if you have single or unconditional signing authority on your account. Please click here to know about the applicable transaction charges.
*RBI circular RBI/2019-20/111 DPSS(CO) RPDD No. 1097/04.03.01/2019-20
^The above limits are subject to overall daily limits of fund transfer, and are not applicable for Kotak to Kotak transfers

Steps via Net Banking

You may use this option to transfer funds to any Third Party (Beneficiary) holding an account with a bank other than Kotak Mahindra Bank, if the beneficiary's bank participates in RBI Real Time Gross Settlement (RBI - RTGS). These fund transfers are executed using Reserve Bank of India's InterBank Transfer Scheme. The minimum amount that can be transfer via this channel is Rs. 2 lakh

Please note:

RTGS is now be available 24/7 (except 11.30 PM to 00:30 AM, due to cut-off).
Requests received after cut-off time or on holidays will be processed on the next RTGS business day. Your account will be debited only when the request is processed, subject to availability of clear funds

You can transfer money using RTGS through:

Net Banking
Mobile Banking
Branch

Payments can only be made via Net Banking and Branch if you have single or unconditional signing authority on your account. Please click here to know about the applicable transaction charges.

Steps via Mobile Banking

Immediate Payment Service (IMPS) enables you to instantly transfer funds online safely from your bank account to accounts maintained with other banks participating in IMPS. This service is available 24x7, even on Sundays and any Bank holidays through Net Banking and Mobile Banking. All you need is a Valid MMID (for mobile banking) and device connected to the internet and Kotak Mahindra Bank's netbanking, SMS banking or Mobile banking facility. This service is brought to you by the National Payments Corporation of India (NPCI) in collaboration with member banks.

IMPS fund transfer can be done in the following ways:

Fund Transfer using account number and IFSC
Fund Transfer using mobile number and MMID (Mobile Money Identifier)

You can also use IMPS Merchant Payments Service to make instant payments to merchants / enterprises. This facility is available only through Mobile Banking