National Electronic Funds Transfer (NEFT)

National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Funds can be received / transferred to / from any Maharashtra Gramin Bank accounts

Overview

Using this facility, individuals, firms and corporates can electronically transfer funds from any bank branch to any individual, firm or corporate having an account with any other bank branch in the country participating in the Scheme

How to do NEFT Transaction?

Customer intending to initiate transfer of funds through NEFT has to fill an application form providing details of the beneficiary (like name of the beneficiary, name of the bank branch where the beneficiary has an account, IFSC of the beneficiary bank branch, account type and account number) and the amount to be remitted.
The application form will be available at any of the bank branch. Visit any of our branches, fill in the application form and submit the same to Bank.
Customers can also send Funds through NEFT using our Mobile Banking application - MGB mPay

NEFT Timing

Neft transactions can be initiated from any of the MGB branch anytime during Business hours
Neft Settlement Timings : Presently, NEFT operates in half-hourly batches - there are Twenty Four settlements from 8 am to 7 pm on Monday to Satuday