If you have an account with the IDBI Bank and want to quickly transfer funds to someone else’s bank account, IDBI NEFT is a good option. It is quick and most importantly, it is RBI-regulated, i.e. 100% safe.
It can be done online using the bank’s net banking portal or offline using the IDBI NEFT Form.
Let’s know about the NEFT timings, charges and NEFT transfer limits to help you smoothly transfer money via IDBI NEFT.
How to Transfer Funds using IDBI NEFT Form?
If you wish to use the offline option to send money via IDBI NEFT, carry your PAN along with cash to your nearby IDBI branch, preferably base branch and ask for the bank’s NEFT form. Fill the following details:
- Branch details
- Beneficiary details
- Amount
- Commission
- Cash (details of notes)
- Applicant Details
Please collect the Acknowledgment Slip before leaving the branch for future reference.
How to use IDBI NEFT online?
You can transfer funds from your IDBI account to any other bank account, within IDBI or otherwise, using your IDBI netbanking account or IDBI mobile banking option. Here, we are explaining the netbanking option:
Step 1: Go to IDBI Netbanking login page (direct link).
Step 2: Type in your login ID (this is your customer ID).
Step 3: Type in Captcha & click on ‘Continue to Login’ .
If you’ve forgotten your password or logging in for the first time, click the link just below the login button saying ‘Generate Online Password/Forgot Password‘.
Step 4: As you are logged in, find the Funds Transfer option and choose NEFT as the mode of transfer.
Step 5: Select Add or Manage Beneficiary to add or select the beneficiary.
Step 6: Enter the beneficiary details, amount and the account from which you wish to transfer funds.
Step 7: Submit the application after entering the OTP to complete the process.
Another way is to download the IDBI Bank GO Mobile+ app and from there, you can easily initiate your NEFT payment. You’d be required to create your PIN which will be required everytime to open the app. The remaining steps are more or less the same from Step 4 to Step 7 of netbanking as given above.
IDBI NEFT Timings
As far as the IDBI NEFT timings are concerned, the online window is open throughout the day and round the year. The money gets debited from the sender’s account as soon as the request is made online. However, it takes around 30 minutes to 1 hour to credit the amount to the receiver’s/beneficiary’s account number.
For initiating the NEFT at the branch, please check the IDBI Bank timings before going ahead.
IDBI NEFT Charges
The below-mentioned are the transaction limits for IDBI NEFT:
the bank branch are charged by a nominal amount:
Transaction Amount | NEFT Charges (Per Transaction) |
up to Rs. 5,000 | Free |
above Rs. 5,000 to Rs. 10,000 | Rs. 2 |
above Rs. 10,000 to Rs. 1 lakh | Rs. 5 |
above Rs. 1 lakh to Rs. 2 lakhs | Rs. 15 |
above Rs. 2 lakhs | Rs. 25 |
Note: The above-mentioned charges are exclusive of GST.
IDBI NEFT Transfer Limit
On any given day, as per the RBI guidelines, there is no NEFT limit on maximum or minimum transaction. However, there might be some restrictions based on your bank account type. For this, it is suggested to contact your relationship manager or IDBI customer care support to get the most specific information.
Benefits of using NEFT
The following are reasons that will always justify you choosing the NEFT mode for transfers from your IDBI account:
- 24×7 availability
- Instant transfers intiated
- Simple process – no hassles
- Can be done online IDBI net banking or mobile banking and other modes of ATM and at-the-branch using the IDBI NEFT form
- No online charges
- Transactions up to Rs 5,000 free at the branch (post that, charges range from Rs 2 up to Rs 25)
- No limit on NEFT amount
- Completely secure mode as it’s overlooked by RBI itself
IDBI Bank Fund Transfer: Various Modes
The following are all the fund transfer options available for the customer having a bank account in the IDBI Bank:
Modes of Fund Transfer in IDBI Bank | |
NEFT | RTGS |
UPI | IMPS |
ATM Fund Transfer | Cheque/demand draft deposit at the branch |
Also check NEFT processes for other banks from the table below:
IDBI NEFT: FAQs
Yes. You can either select from the drop-down menu or enter manually. If entered wrong IFSC, your transaction may not get processed.
No. NEFT request once made cannot be cancelled.
You need to provide beneficiary’s name, address and account number, branch name and ISFC when submitting IDBI NEFT Form.