Need to send money through Indian Overseas Bank (IOB)? Whether it’s a small transfer or a large business payment, IOB offers multiple methods like NEFT, IMPS, and RTGS — each with its own charges and benefits.
Here’s the full breakdown of IOB fund transfer charges in 2025.
1. IOB NEFT Charges (2025)
NEFT (National Electronic Funds Transfer) is ideal for non-urgent money transfers.
NEFT Charges (For Branch-Based Transactions):
| Transaction Amount | Charges (Excl. GST) |
|---|---|
| Up to ₹10,000 | ₹2.00 |
| ₹10,001 to ₹1 lakh | ₹4.00 |
| ₹1 lakh to ₹2 lakhs | ₹14.00 |
| Above ₹2 lakhs | ₹24.00 |
✅ No charges for NEFT via internet banking or IOB Mobile app
NEFT Timings:
- 24×7×365 for online transactions
- Branch timings only for offline transfers
2. IOB IMPS Charges (2025)
IMPS (Immediate Payment Service) is perfect for instant money transfers — available 24×7, including Sundays and holidays.
IMPS Charges:
| Transaction Amount | Charges (Excl. GST) |
|---|---|
| Up to ₹1,000 | ₹2.50 |
| ₹1,001 to ₹10,000 | ₹5.00 |
| ₹10,001 to ₹1 lakh | ₹10.00 |
| ₹1 lakh to ₹2 lakhs | ₹20.00 |
✅ IMPS is available only through IOB internet/mobile banking, not at branches.
3. IOB RTGS Charges (2025)
RTGS (Real Time Gross Settlement) is meant for high-value transactions — ideal for real estate payments, business deals, etc.
RTGS Charges (For Branch-Based Transactions):
| Transaction Amount | Charges (Excl. GST) |
|---|---|
| ₹2 lakhs to ₹5 lakhs | ₹25.00 |
| Above ₹5 lakhs | ₹49.00 |
✅ No charges for RTGS via IOB net banking or mobile banking
RTGS Timings:
- Online: 24×7 (as per RBI)
- Offline (branch): During working hours
FAQs
Q1: Can I transfer money for free?
A. Yes. Use IOB net banking or mobile app for NEFT and RTGS with zero charges.
Q2: Is GST included in the fees?
A. No. The charges mentioned exclude GST (currently 18%).
Q3: Which method is best for instant transfers?
A. Use IMPS for fast transfers below ₹2 lakhs. Use RTGS for higher-value, urgent transfers.
Q4: Are there limits on NEFT/RTGS/IMPS?
A. Yes. Limits depend on:
Your account type
Mode of transfer (branch or online)
Daily transfer limits set in your IOB profile
Key Takeaways
- NEFT & RTGS are free via IOB net banking & mobile banking
- IMPS is ideal for 24×7 instant transfers (charges apply)
- Branch-based transfers include fees + GST
- Always prefer digital channels to save on charges
