I transferred money from one bank to different bank via NEFT and measured the time. I did it during the time period of NEFT, so transferring post time is definitely going to many times longer depending upon how far away from neft time you are transferring. For me it took 1 hour and 30 minutes. So i suppose that for most transaction it would take within 2 hours. Note that this time does not include the time taken by bank to authorize adding account to the transfer list.