Customers of Bank of Baroda can use the NEFT Form to send money to anyone – online or at the branch. Let’s know all about the Bank of Baroda NEFT charges and NEFT transfer limit per day.
Bank of Baroda NEFT Form Download
While going online is the easiest way to use Bank of Baroda NEFT services, the bank still provides its customers the option to transfer funds at the branch using the Bank of Baroda NEFT Form. This form can easily be downloaded by clicking the button below.
The Bank of Baroda NEFT Form can also be used for transferring money via the BOB RTGS mode. However, please note that for RTGS, the minimum amount must be of Rs 2 lakhs.
Bank of Baroda NEFT Limit
As per the RBI guidelines, there is no NEFT Bank of Baroda transfer limit set. However, some banks do set NEFT limits per day for new accounts and also for newly added beneficiaries.
Bank of Baroda provides NEFT through ATM service in which there you can transfer funds to other banks using your existing Bank of Baroda debit card. There is a Rs 2 lakhs of Bank of Baroda NEFT transfer limit per day with a maximum of Rs 50,000 per transaction.
BOB NEFT Limit for Online Channels
The following are the BOB NEFT limits when done via netbanking or mobile banking:
|Frequency||BOB NEFT Limit for Retail Banking||BOB NEFT Limit for Corporate Banking|
|Per transaction||Rs 5 lakhs||Rs 10 lakhs|
|Daily||Rs 10 lakhs||Rs 50 lakhs|
|Weekly||Rs 30 lakhs||Rs 2 crores|
|Monthly||Rs 50 lakhs||Rs 5 crores|
|Yearly||Rs 4 crores||Rs 30 crores|
Bank of Baroda NEFT Timings
- Bank of Baroda at the branch NEFT Timings: 8:00 AM to 6.45 PM on weekdays
(on Saturdays, BOB NEFT timings remain from 8 in the morning till 12:45 in the noon)
Please check the Bank of Baroda Branch Timings for precise information.
- Bank of Baroda NEFT through ATM Timings: Same as at the branch
- Bank of Baroda NEFT Online Timings: 24×7, 365 days
Bank of Baroda NEFT Charges
The charges for NEFT transactions in Bank of Baroda (BOB) may vary depending on the amount of money transferred and the type of account you hold. However, if you’re doing an online transaction, the bank will not levy any NEFT charges.
The following are the BOB NEFT charges for when you go to the bank, fill up the BOB NEFT form and direct the bank to make the transfer:
|Bank of Baroda NEFT Charges|
|Up to Rs 10,000 – Rs 2.50|
Rs 10,001 to Rs 1 lakh – Rs 5.00
Rs 1,00,001 to Rs 2 lakhs – Rs 15
Above Rs 2 lakhs – Rs 25
How can I minimize BOB NEFT Charges?
Although the NEFT charges levied by the Bank of Baroda aren’t budget-burning, but if you make NEFT payments frequently, cutting down on these NEFT charges must be a priority. To minimize the NEFT charges in BOB, you can follow these tips:
- Use online channels: Bank of Baroda charges zero fees for NEFT transactions initiated through online channels, such as internet banking and mobile banking. Using these channels will surely help you save on transaction fees.
- Opt for bulk transactions: If you need to transfer a large sum of money through NEFT and do it at the branch, it is advisable to do it in a single transaction rather than multiple transactions. This can help you save on transaction fees. For example, if your amount is Rs 5 lakhs, instead of making transactions on different days, do it on the same day if possible as the charges will be Rs 25 for any amount above Rs 2 lakhs.
- Use the NEFT service during off-peak hours: There are banks in India that levy an additional charge for NEFT transactions initiated during off-peak hours. To avoid these charges, it is best to initiate NEFT transactions during normal banking hours.
If you transfer funds via BOB Netbanking and are suspicious about charges being deducted more than what is given above, please go ahead with Bank of Baroda balance check to see the last three or five deductions in your bank account. If you find fee deducted from your account for NEFT, please contact Bank of Baroda customer care and report it immediately.
How to Transfer Funds Online using BOB NEFT?
Below-stated are the steps for BOB NEFT via Netbanking:
Step 1: Login to your Bank of Baroda net banking account using your user ID and password.
Step 2: From the main menu, select the “Fund Transfer” option, and then select “NEFT.”
Step 3: Enter the details of the beneficiary’s account to whom you want to transfer the funds, such as name, account number, bank name, and branch.
Step 4: After entering the beneficiary details, verify them thoroughly to ensure accuracy.
Step 5: Enter the amount to be transferred to the beneficiary account.
Step 6: Review all the details of the transaction, including the beneficiary details and the amount, and then confirm the transaction.
Step 7: Enter the transaction password to complete the transaction.
After the transaction is completed, you will receive a confirmation message with a unique transaction reference number.
Alternatively, you can also choose the BOB mobile banking option to transfer funds from your bank account to any other account via NEFT.
BOB NEFT via ATM
Another option that the Bank of Baroda provides is to use the NEFT mode via ATM. Important features of BOB NEFT via ATM are given below:
- BOB NEFT via ATM can be done at all BOB ATMs
- To start, one-time registration is required at the branch
- BOB NEFT limit at ATM: Rs 2 lakh/day (Rs 50,000/transaction)
- BOB NEFT ATM timings: 8AM to 6:45PM (weekdays) and 8AM to 12:45PM (Saturdays)
How to do BOB NEFT via ATM?
Follow these steps to transfer funds via BOB NEFT at any BOB ATM:
Step 1: Insert your BOB debit card
Step 2: Select ‘Fund Transfer’
Step 3: Choose NEFT
Step 4: Enter your ATM PIN
Step 5: Enter OTP for authentication to complete the process
What are the benefits of using NEFT for fund transfer?
NEFT (National Electronic Funds Transfer) is a popular electronic payment system in India that allows for the seamless transfer of funds between bank accounts. Some of the benefits of using NEFT for fund transfer are:
- Convenience: Can be initiated from the comfort of your home or office, and the funds are transferred to the recipient’s account within 1-2 hours.
- No online charges: Most of the banks, like BOB, do not charge any fee for when customers take on NEFT via online modes.
- Low ‘at-the-branch’ charges: NEFT transactions are relatively inexpensive compared to other modes of fund transfer, such as RTGS. NEFT charges are no more than Rs 25 in any of the scheduled commercial banks in India.
- Wide coverage: This means that you can transfer funds to anyone, regardless of which bank they have their account with.
- Safe and secure: NEFT transactions are safe and secure, as they are conducted through secure channels of RBI and require two-factor authentication at all levels.
Also check NEFT processes for other banks from the table below:
Also check NEFT processes for other banks from the table below:
|Axis Bank NEFT||HDFC NEFT||NEFT National Electronic Funds Transfer|
|Bank of India NEFT||ICICI NEFT||NEFT vs RTGS|
|Canara Bank NEFT||IDBI NEFT||SBI NEFT|
|Difference Between IMPS, NEFT & RTGS||Indian Bank NEFT||Union Bank NEFT|
|Difference Between NEFT & IMPS|
NEFT Bank of Baroda: FAQs
Please wait for 1- 4 hours. After this, ask your friend to check their Bank of Baroda mini statement and you do the same. If you have not received the money yet, please report it to the Bank of Baroda customer care for quick resolution.
You can use Bank of Baroda NEFT Form at the branch and BOB Netbanking (over mobile app or website) to electronically transfer funds from Bank of Baroda to another bank. There is another option of Bank of Baroda NEFT through ATM in which you can use your BOB debit card for NEFT.
Please log into Bank of Baroda Netbanking and add beneficiary there. You can also visit your nearby BOB branch to add beneficiary if your internet banking is not active/not working.
You need to add sender’s details (i.e. your name, A/c number, etc.), beneficiary details (name and account details), NEFT amount to be transferred (in words and figures) in BOB NEFT form.
No. You’ll only pay the NEFT charges applicable on your NEFT transaction authorized by the RBI. Other than this, there are no other Bank of Baroda NEFT charges applicable.