Central Bank of India is one of the oldest public sector banks in India, offering a wide range of digital banking services. Among these, NEFT (National Electronic Funds Transfer) is a highly popular and secure method for transferring funds across banks.
In this article, we will explain Central Bank of India NEFT charges, timings, limits, and how to transfer money step-by-step in simple and easy language.
What is NEFT in Central Bank of India?
NEFT is an electronic fund transfer system regulated by the Reserve Bank of India. It enables customers to transfer money from one bank account to another anywhere in India.
The system works in batch processing, and transactions are usually completed within 30 minutes to a few hours depending on the timing.
Central Bank of India NEFT Charges
The bank offers different charges depending on whether the transaction is done online or at a branch:
1. Online NEFT Charges
- Internet Banking / Mobile Banking: FREE
- No charges are applied for digital transfers as per RBI guidelines
2. Branch NEFT Charges
| Transaction Amount | Charges |
| Up to ₹10,000 | ₹2.50 |
| ₹10,001 – ₹1 lakh | ₹5 |
| ₹1 lakh – ₹2 lakh | ₹15 |
| Above ₹2 lakh | ₹25 |
These charges apply only when you initiate NEFT through a bank branch.
Central Bank of India NEFT Timings
Online NEFT Timings
- Available 24×7, 365 days
- Works even on Sundays and bank holidays
Branch Timings
- NEFT transactions at branches are available during normal banking hours
- NEFT facility is now available round-the-clock for customers across India.
Central Bank of India NEFT Limit
NEFT is flexible and does not have strict limits:
| Mode | Minimum | Maximum Limit |
| Branch | ₹1 | No upper limit |
| Internet Banking | ₹1 | Bank-defined (usually high limits) |
| Mobile Banking | ₹1 | As per bank policy |
| Walk-in (Cash) | — | ₹50,000 |
For walk-in customers depositing cash, the maximum NEFT transfer limit is ₹50,000.
How To Transfer Money via NEFT in Central Bank of India
You can transfer funds using internet banking, mobile banking, or by visiting a branch. Here’s the most common online method:
Step-by-Step (Internet Banking)
1. Visit the official website https://centralbank.bank.in/
2. Login to your Net Banking account
3. Go to Funds Transfer → NEFT
4. Add beneficiary details:
- Name
- Account Number
- IFSC Code
5. Wait for beneficiary activation
6. Enter the transfer amount
7. Confirm transaction using OTP
8. Save the receipt (UTR number)
The amount will be credited in the next NEFT batch cycle.
Key Benefits of Central Bank NEFT
- Free online transactions
- 24×7 availability
- Secure and RBI-regulated system
- Suitable for small and large payments
- Available across all banks in India
Important Tips for Users
- Always double-check account number and IFSC code
- Add beneficiaries in advance to avoid delays
- Use internet banking to save charges
- Failed transactions are usually reversed within 1–2 working days
Conclusion
Central Bank of India NEFT service is a safe, reliable, and cost-effective way to transfer money anywhere in India. With zero charges on online transactions, flexible limits, and 24×7 service, it is ideal for everyday banking needs.
To get the best experience, customers should prefer mobile or internet banking, as it is faster and completely free compared to branch transactions.
