What is InterBank Fund Transfer?

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InterBank Fund Transfer is a facility that allows you to transfer money from your account with Kotak Mahindra Bank Ltd. to an account in any other Bank, subject to the beneficiary's bank participating in the RBI National Electronic Funds Transfer (RBI - NEFT) scheme. This facility is available currently to resident Indian customers only.

You need to login using your Net Banking login ID and password, and select InterBank Fund transfer option under Payments on the left hand side menu.

You will then need to select the source account and enter the amount to be transferred and the details of the beneficiary account like beneficiary name, beneficiary account number, account type, bank name and the destination branch.

Your account will be debited online, subject to sufficient available balance.
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.

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