Bank of Maharashtra is a well-known public sector bank offering reliable digital banking services. One of the most widely used services is NEFT (National Electronic Funds Transfer), which allows customers to transfer money securely across banks in India.
In this article, we will explain Bank of Maharashtra NEFT charges, timings, transaction limits, and how to transfer money step-by-step in simple language.
What is NEFT in Bank of Maharashtra?
NEFT is an electronic fund transfer system regulated by the Reserve Bank of India. It enables customers to transfer funds from one bank account to another across India.
Transactions are processed in batch cycles (usually hourly), and funds are generally credited within a few hours depending on the timing.
Bank of Maharashtra NEFT Charges
NEFT charges depend on the mode of transaction—online or branch:
- Online NEFT Charges
- Internet Banking / Mobile Banking: FREE
- No charges are levied for digital transactions
👉 This encourages customers to use digital banking channels.
- 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 |
👉 These charges apply only when the transaction is done at a bank branch.
Bank of Maharashtra NEFT Timings
Online NEFT Timings
- Available 24×7, 365 days
- Works on Sundays and bank holidays as well
Branch Timings
- As per bank working hours (generally 9:30 AM to 4:00 PM on working days)
👉 NEFT transactions are settled in hourly batches, so the time of transfer may vary slightly.
Bank of Maharashtra NEFT Limit
NEFT is flexible when it comes to transaction limits:
| Mode | Minimum | Maximum Limit |
| Branch | ₹1 | No upper limit |
| Internet Banking | ₹1 | Up to ₹10 lakh/day (approx.) |
| Mobile Banking | ₹1 | ₹2–5 lakh/day |
| Walk-in Customer | — | ₹50,000 (cash transfer) |
👉 NEFT does not have a strict upper limit, but banks may set limits based on customer profile.
How To Transfer Money via NEFT in Bank of Maharashtra
You can transfer money using internet banking, mobile banking, or branch visit. Here’s the most common method:
Step-by-Step (Internet Banking)
- Visit the official website
👉 Bank of Maharashtra - Login to your Net Banking account
- Go to Funds Transfer → NEFT
- Add beneficiary details:
- Name
- Account Number
- IFSC Code
- Wait for beneficiary activation (may take a few hours)
- Enter transfer amount
- Confirm transaction using OTP
- Save the transaction receipt (UTR number)
👉 Once completed, the amount will be processed in the next NEFT batch.
Key Benefits of NEFT in Bank of Maharashtra
- ✔ Zero charges for online transactions
- ✔ Available 24×7
- ✔ Safe and RBI-regulated system
- ✔ Suitable for both small and large transfers
- ✔ Widely accepted across all banks in India
Important Tips for Users
- Always verify account number and IFSC code before transfer
- Add beneficiaries in advance to avoid delays
- For urgent transfers, consider IMPS (instant transfer option)
- Failed transactions are usually reversed within 1–2 working days
Conclusion
Bank of Maharashtra NEFT service is a secure, affordable, and convenient way to transfer money across India. With free online transactions, flexible limits, and round-the-clock availability, it is ideal for daily banking needs.
To save time and avoid extra charges, customers should prefer internet or mobile banking instead of visiting a branch.
