Bank Of India NEFT

Hi I have an account in the Bank Of India so I want to know that does it provide the NEFT service for the money transfer or not???

[Rajkumar Agarwal]

National Electronic Funds Transfer (NEFT) is one of the most prominent electronic funds transfer system of India.

NEFT is a facility provided to bank customers to enable them to transfer funds easily and securely on a one-to-one basis.

It is done via electronic messages.

Yes the Bank Of India provide the NEFT service

NEFT Process

You have to Register & confirm your beneficiary before making any fund transfer.

This registration & confirmation process is one time activity.

System sends Tracker ID to you as SMS for beneficiary confirmation.



NEFT Operating Hours :

Monday to Friday:8.00Hrs to 18.30Hrs. Bulk NEFT File should be uploaded before
18:00Hrs for same day processing.

Saturday(except 2nd & 4th Saturdays):8.00Hrs to 18.30Hrs. Bulk NEFT File should be
uploaded before 18:00Hrs for same day processing.

Sunday is holiday.

NEFT Charges (tentative)

1. For transaction amount up to Rs. 10,000 : Rs. 2.50 + taxes

2. For transaction amount above Rs. 10,000 & up to Rs. 1 Lac : Rs. 5.00 + taxes

3. For transaction amount above Rs. 1 Lac & up to Rs. 2 Lacs : Rs. 15.00 + taxes

4. For transaction amount more than Rs. 2 Lacs : Rs. 25.00 + taxes