Need to transfer money from your Bank of India account? NEFT (National Electronic Funds Transfer) is one of the safest and most commonly used ways to do it — whether online or at the branch.
This guide covers Bank of India NEFT charges, transfer limits, timings, and how to make free transfers using digital channels.
What Is NEFT?
NEFT is a nationwide electronic fund transfer system regulated by the Reserve Bank of India (RBI). It allows secure, bank-to-bank money transfers — 24×7 if done online.
Ideal for personal and business payments
Works even on holidays (online)
Widely accepted by all Indian banks
Bank of India NEFT Charges (2025)
Bank of India offers free NEFT transfers via online banking. Charges apply only when NEFT is done at a branch.
NEFT Charges at Branch (Offline):
| Amount Transferred | Charges (Excl. GST) |
|---|---|
| Up to ₹10,000 | ₹2.25 |
| ₹10,001 – ₹1 lakh | ₹4.75 |
| ₹1 lakh – ₹2 lakhs | ₹14.75 |
| Above ₹2 lakhs | ₹24.75 |
GST at 18% will be added on top of these charges.
NEFT Charges for Online Transfers
Free of cost when using:
- BOI Internet Banking
- BOI Mobile App (BOI BTM or StarConnect)
- UPI-based transfers (if NEFT is the backend)
Save time and money by using digital banking instead of visiting the branch.
Bank of India NEFT Timings
| Mode | Timing |
|---|---|
| Online | 24×7 (365 days) |
| Branch | Usually 10 AM to 4 PM (weekdays), until 1 PM (working Saturdays) |
NEFT transfers are processed in half-hourly batches. Funds usually reach within 30 minutes to 2 hours.
NEFT Transaction Limits
| Platform | Daily Limit |
|---|---|
| Internet Banking | ₹10 lakhs |
| Mobile Banking | ₹5 lakhs (default) |
| Branch Transfer | Based on customer profile |
Limits can be increased by submitting a request via net banking or visiting your branch.
How to Use NEFT at Bank of India
Internet Banking:
- Log in at https://bankofindia.co.in
- Navigate to Funds Transfer → NEFT
- Add or select a beneficiary
- Enter the amount and confirm with OTP
Mobile Banking (BOI BTM or BOI Mobile App):
- Open the app and log in
- Go to Transfer Funds → NEFT
- Select account and beneficiary
- Enter details and authorize the transfer
Branch Transfer:
- Fill out the NEFT form
- Provide receiver’s name, account number, and IFSC code
- Submit with cheque or cash
FAQs
Q1: Is NEFT free at Bank of India?
A. Yes, online NEFT is free. Charges apply only for branch-based transfers.
Q2: Can I use NEFT on weekends?
A. Yes, NEFT is available 24×7 online, including Sundays and holidays.
Q3: What if my NEFT transfer fails?
A. The money is usually refunded within 1–2 working days. Contact customer care if not.
Q4: What do I need to make an NEFT payment?
A.
Recipient’s name
Account number
IFSC code
Amount to transfer
Key Takeaways
- Bank of India NEFT is free online, but branch transfers have small fees
- NEFT works 24×7 via net and mobile banking
- Safe and RBI-approved method for fund transfers
- Save time and charges by using BOI digital channels
