IDBI Bank NEFT Charges and Timings

IDBI Bank NEFT Charges and Timings

IDBI Bank does not charge for NEFT transfers initiated through Go Mobile+ or internet banking, in line with RBI’s directive to waive online NEFT charges. Branch-based NEFT may carry a small fee. NEFT now operates 24/7 including holidays.

IDBI Bank NEFT Charges

• Online NEFT (Go Mobile+ and net banking): Free (Rs 0)
• Branch NEFT (up to Rs 10,000): Rs 2 + GST
• Branch NEFT (Rs 10,001 to Rs 1 lakh): Rs 4 + GST
• Branch NEFT (Rs 1 lakh to Rs 2 lakh): Rs 12 + GST
• Branch NEFT (above Rs 2 lakh): Rs 20 + GST

Confirm the latest charges at your branch or on the IDBI Bank website, as these are subject to revision.

NEFT Timings

As per RBI guidelines, NEFT is available 24 hours a day, 7 days a week, including Sundays and bank holidays. Transactions are processed in half-hourly settlement batches. Most transfers are credited to the beneficiary within 30 minutes to 2 hours.

How to Do NEFT via Go Mobile+

1. Open Go Mobile+ and go to Fund Transfer.
2. Select NEFT as the transfer mode.
3. Add or select the beneficiary (account number and IFSC code required).
4. Enter the amount and confirm with your MPIN or transaction password.
5. An OTP may be required when adding a new beneficiary.
6. Save the transaction reference number for tracking.

NEFT Transfer Limits

• RBI has set no minimum or maximum limit for NEFT.
• IDBI Bank may have internal per-day online transfer limits. Check Go Mobile+ settings or contact customer care for current limits.

FAQ

Does IDBI Bank charge for NEFT on public holidays?

NEFT is available on public holidays through online channels. Online NEFT is free at all times. Branch NEFT on holidays is not possible as branches remain closed.

How long does IDBI Bank NEFT take to credit?

NEFT is processed in 30-minute settlement batches. Transfers are typically credited within 30 minutes to 2 hours. Delays can occur during peak banking hours or system maintenance windows.

Can I cancel an NEFT transfer after initiating it?

Once an NEFT transaction is submitted and confirmed, it cannot be cancelled by the sender. Contact IDBI Bank customer care at 1800-200-1947 immediately if you have made an error, and they will guide you through the dispute process.

Key Takeaways

• Online NEFT via Go Mobile+ is completely free of charge.
• Branch NEFT charges range from Rs 2 to Rs 20 + GST based on the amount.
• NEFT operates 24/7 with 30-minute settlement batches.
• Most transfers credit within 30 minutes to 2 hours.
• NEFT has no RBI-imposed minimum or maximum limit.