NEFT - National Electronic Fund Transfer (NEFT) is a national electronic payment system that allows Kotak Mahindra customers to transfer funds within the bank. To make an NEFT transfer, customers have to download Kotak Mahindra mobile banking app from Playstore on their iPhone or Android phone and register using their net banking login credentials. Customers will then have to add beneficiaries to the account. To add a beneficiary, customers will have to provide the beneficiary’s name, phone number, account number, IFSC code, and bank branch details. Post adding a beneficiary, the bank will take about 30 minutes to approve it. After receiving the approval, customers will be allowed to transfer up to Rs. 10 lakh to any Kotak Mahindra bank account holder.