Bank of India is one of India’s oldest and most trusted public sector banks, offering a wide range of digital banking services. Among these, NEFT (National Electronic Funds Transfer) is a popular method for transferring money securely across banks in India.
In this article, we will cover Bank of India NEFT charges, timings, limits, and how to transfer money step-by-step in simple language.
What is NEFT in Bank of India?
NEFT is an electronic fund transfer system regulated by the Reserve Bank of India. It allows customers to transfer funds from one bank account to another across India in a safe and efficient way.
Transactions are processed in half-hourly batches, and the money is usually credited within 30 minutes to 2 hours.
Bank of India NEFT Charges
NEFT charges depend on whether you use online banking or branch services:
1. Online NEFT Charges
- Internet Banking / Mobile Banking: FREE
- No charges as per RBI digital banking guidelines
Branch NEFT Charges
| Transaction Amount | Charges |
| Up to ₹10,000 | ₹2.50 + GST |
| ₹10,001 – ₹1 lakh | ₹5 + GST |
| ₹1 lakh – ₹2 lakh | ₹15 + GST |
| Above ₹2 lakh | ₹25 + GST |
Charges apply only when you initiate NEFT from a bank branch.
Bank of India NEFT Timings
Online NEFT Timings
- Available 24×7, 365 days
- Works even on Sundays and bank holidays
Branch Timings
- Monday to Friday: 9:15 AM to 3:45 PM
- Saturday: 9:15 AM to 11:45 AM
Since NEFT works in batches, the transfer may take some time depending on when you initiate it.
Bank of India NEFT Limit
NEFT limits vary depending on the mode of transaction:
| Mode | Minimum | Maximum Limit |
| Branch | ₹1 | No fixed limit |
| Internet Banking | ₹1 | Up to ₹10 lakh/day |
| Mobile Banking | ₹1 | ₹2–5 lakh/day |
| Walk-in Customer | — | ₹50,000 (cash transfer) |
Limits can vary based on account type and customer profile.
How To Transfer Money via NEFT in Bank of India
You can transfer money through internet banking, mobile banking, or branch. Here’s the most common online method:
Step-by-Step (Internet Banking – Star Connect)
1. Visit the official website
2. Bank of India
3. Login to Star Connect (Net Banking)
4. Go to Funds Transfer → NEFT
5. Add beneficiary details:
- Name
- Account Number
- IFSC Code
6. Wait for beneficiary activation (may take a few hours)
7. Enter transfer amount
8. Confirm transaction using OTP/password
9. Save or download the receipt (UTR number)
Once completed, the amount is processed and credited within the NEFT cycle.
Key Benefits of Bank of India NEFT
- Free online transactions
- Available 24×7
- Safe and RBI-regulated system
- Suitable for small to large payments
- Wide network coverage across all banks
Important Tips for Users
- Always double-check account number and IFSC code
- Add beneficiaries in advance to avoid delay
- Large transactions may require limit enhancement
- Failed transactions are usually reversed within 1–2 working days
Conclusion
Bank of India NEFT service is a reliable, secure, and cost-effective way to transfer money anywhere in India. With zero charges on online transfers, flexible limits, and round-the-clock availability, it is ideal for daily banking needs.
For the best experience, customers should prefer internet or mobile banking, as it saves both time and money compared to branch transactions.
