The National Electronic Funds Transfer (NEFT) is a popular online payment system that enables seamless transfer of funds between bank accounts. Bank of India (BOI), a leading public sector bank, offers NEFT services to its customers at competitive NEFT Transaction Charges in 2025. This article provides a comprehensive guide to BOI NEFT charges, transaction limits, timings, and the process to initiate an NEFT transfer.
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BOI NEFT Charges in 2025
When it comes to NEFT transfer charges, the Bank of India has implemented a transparent and straightforward fee structure. Here’s a detailed breakdown of the charges based on the transaction amount:
| Transaction Amount | Branch Charges | Net/Mobile Banking Charges |
| Up to ₹10,000 | ₹2 + GST | No charges |
| Above ₹10,000 to ₹1 lakh | ₹5 + GST | No charges |
| Above ₹1 lakh to ₹2 lakhs | ₹15 + GST | No charges |
| Above ₹2 lakhs | ₹25 + GST | No charges |
It’s important to note that:
- There are no charges for inward NEFT transactions, regardless of the amount.
- GST and other applicable surcharges will be levied on the branch charges mentioned above.
- NEFT transactions initiated through net banking or mobile banking are free of cost, irrespective of the transfer amount.
BOI NEFT Charges based on Account
The Bank of India applies uniform NEFT charges across all account types, including savings, current, and overdraft accounts. This ensures a level playing field for all customers, making it easier to understand and manage transaction costs.
BOI NEFT Timings
NEFT Timing plays a crucial role in ensuring smooth and timely fund transfers. The Bank of India adheres to the RBI’s guidelines for NEFT operations, which are as follows:
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Weekdays (Monday to Friday):
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12 settlements from 8 am to 7 pm, processed in hourly batches.
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Saturdays:
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6 settlements from 8 am to 1 pm, processed in hourly batches.
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Transactions initiated after the cut-off time will be processed in the next available batch.
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The half-hourly settlement schedule is as follows:
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Weekdays: 23 half-hourly settlements between 8 am and 7 pm.
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First, third, and fifth Saturdays: Same as weekdays.
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Second and fourth Saturdays: 6 settlements from 8 am to 1 pm.
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Transactions initiated after 6:30 pm on weekdays and 12:30 pm on Saturdays will be processed in the next working day’s first batch at 8 am.
Understanding these timings will help you plan your NEFT transactions effectively and ensure timely receipt of funds by the beneficiary.
Bank of India (BOI) NEFT Transaction Limits in 2025
When it comes to NEFT transaction limits, the Bank of India offers ample flexibility to cater to the diverse needs of its customers:
- Minimum transaction amount: ₹1
- Maximum transaction amount: No upper limit
- Maximum number of transactions per day: No limit
- Maximum daily transaction limit: No cap on the total amount transferred per day
These generous limits make NEFT an ideal choice for both small and large value transactions,
accommodating the requirements of individuals and businesses alike.
How to Initiate an NEFT Transaction in BOI?
Initiating an NEFT transaction with the Bank of India is a simple and straightforward process. Follow these steps to transfer funds seamlessly:
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Gather the necessary details:
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Beneficiary’s name
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Beneficiary’s account number
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Beneficiary bank’s IFSC code
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Amount to be transferred
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Sender’s account number and name
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Choose your preferred transaction channel:
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Branch: Visit your nearest BOI branch, fill the NEFT form, and provide the required details. The branch will process the transaction.
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Net Banking: Log in to your BOI net banking account, navigate to the Funds Transfer section, select NEFT, enter the beneficiary and transaction details, review, and submit.
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Mobile Banking App: Log in to the BOI mobile app, go to the Funds Transfer section, select NEFT, enter the necessary details, and confirm the transaction.
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For future transactions, you can use BOI’s online NEFT registration facility to register beneficiaries, eliminating the need for branch visits.
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Once the transaction is processed, you’ll receive an SMS alert on your registered mobile number for both debit and credit confirmations.
In case of any issues or discrepancies, reach out to the Bank of India’s customer care or visit your branch for prompt resolution, usually within 2 working days.
Tips to Minimise NEFT Charges in Bank of India
While the BOI NEFT charges are already quite reasonable, here are a few tips to help you further minimise transaction costs:
- Opt for net banking or mobile banking channels for NEFT transactions, as they are free of charge.
- Consolidate multiple transfers into a single transaction to avoid multiple branch charges.
- Keep an eye out for special promotions or offers that may waive or reduce NEFT charges during specific periods.
By being mindful of these aspects, you can optimise your fund transfers and save on transaction fees.
Conclusion
The Bank of India’s NEFT charges, limits, and process in 2025 offer a user-friendly and cost-effective solution for electronic fund transfers. With no charges for online transactions, generous transaction limits, and a streamlined process, BOI ensures that customers can transfer funds with ease and convenience. By staying informed about the neft transfer charges and leveraging the bank’s extensive branch network and secure digital channels, you can make the most of NEFT services for your financial needs. With round-the-clock availability through Internet banking and competitive charges, BOI NEFT remains a preferred mode of funds transfer for many. Embrace the power of NEFT and experience seamless, reliable, and efficient fund transfers with the Bank of India.
Frequently Asked Questions (FAQs)
1. Are there any NEFT charges for BOI transactions under ₹10,000?
Yes, for branch transactions under ₹10,000, there is a nominal charge of ₹2 + GST. However, NEFT transactions made through net banking or mobile banking are free of cost, regardless of the amount.
2. Does BOI charge for NEFT transactions made via internet banking or mobile banking?
No, the Bank of India does not levy any charges for NEFT transactions made through internet banking or mobile banking channels, irrespective of the transfer amount.
3. Are NEFT charges applicable for BOI customers transferring money to other BOI accounts?
Yes, neft charges are applicable even for transfers between BOI accounts. The charges are based on the transaction amount and the channel used (branch or online).
4. Is there a charge for failed or reversed NEFT transactions in BOI?
No, the Bank of India does not impose any charges for failed or reversed NEFT transactions. However, it’s essential to ensure that you enter the correct beneficiary details to avoid any failures or delays in the transfer process.
