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About Bank of Baroda NEFT RTGS IMPS
Speed of settlement
Maximum Transfer Value
Minimum Transfer Value
Free up to Rs. 2 Lakhs.
Rs. 25 per transaction of value above Rs. 2 Lakhs.
Transfer amount between Rs. 2 lakhs – Rs. 5 lakhs: Rs. 25 (excluding GST) per transaction from 8:00 am to 11:00 am.
From 11:00 am to 1:00 pm, Rs. 27 per transaction
Rs. 30 per transaction after 1:00 pm.
24x7, 365 Days
8 am IST – 4.30 pm IST (On all working days for banks in India)
Bank of Baroda NEFT is the inter-banking fund transfer facility that is based on Deferred Net settlement. Under this mechanism, the transactions are credited in hourly batches of 30 minutes.
Bank of Baroda NEFT Transfer Modes
Offline- Bank Branch Online- Mobile/ Net Banking
Bank of Baroda Fund Transfer Limit
Bank Branch- No Limit Mobile/ Internet Banking- Rs. 5 Lakhs
Bank of Baroda Fund Transfer Charges
Bank Branch- Rs.1 lakh and Rs. 2 lakhs-Rs.15 per transaction
Above Rs. 2 lakhs- Rs. 25 per transaction.
Bank of Baroda Fund Transfer Timings
How Does Bank of Baroda NEFT Work?
Bank of Baroda NEFT or National Electronic Funds Transfer is the inter-banking fund transfer facility that is operated under the governance of RBI. This facility is available for the transfer of funds within the country. It is based on the Deferred Net settlement system. This means the amount gets credited in 30-minute batches.
How to Transfer Funds Using Bank of Baroda NEFT?
To transfer funds using Bank of Baroda NEFT, one can follow the below-mentioned steps:
How to Make Credit Card Bill Payments Through Bank of Baroda NEFT?
To pay credit card bills through Bank of Baroda NEFT, here are the steps to be followed:
What is Bank of Baroda NEFT Fees?
There are charges levied by the Bank of Baroda to receive money through NEFT. However, the payer has to bear certain charges depending on which bank the transaction has been initiated from. The NEFT money transfer facility can also be availed by NRE/ NRO account holders in the country.
Mobile and Internet Banking
Rs.1 lakh and Rs.2 lakhs - Rs.15 per transaction
Above Rs. 2 lakhs – Rs. 25 per transaction.
What Details are Required to Proceed with NEFT Transaction
To transfer funds using Bank of Baroda NEFT, here are the details required:
What are Bank of Baroda NEFT Timings?
Customers can transfer funds through the Bank of Baroda using a mobile/internet banking account or by visiting the bank branch. Mentioned below are the timings for NEFT transactions through Bank of Baroda:
Monday to Friday & Working Saturday
What are Bank of Baroda NEFT Limits?
There is no minimum amount for fund transfer through Bank of Baroda NEFT. Customers can transfer up to Rs. 5 Lakhs through Bank of Baroda NEFT while using Internet Banking.
What are the Benefits of Using Bank of Baroda NEFT?
Mentioned below are the key benefits offered by Bank of Baroda NEFT:
Bank of Baroda RTGS or Real Time Gross Basis is the inter-banking fund transfer facility that allows instant fund transfer on a one-to-one basis. RTGS allows 'Real-time' transfer of funds meaning payment can be made instantly without delay. Here are some details of the RTGS facility offered by the Bank of Baroda:
Offline- Visiting Bank of Baroda branch Online- Mobile/ Net Banking
Net Banking- Bank Branch – Rs. 2 lakhs and Rs. 5 lakhs
Rs. 25 (excluding GST) per transaction from 8:00 am to 11:00 am
Rs. 27 per transaction from 11:00 am to 1:00 pm and Rs. 30 per transaction after 1:00 pm.
For fund transfer through Bank of Baroda RTGS, customers need to provide the following details of the recipients:
How to fill the Bank of Baroda RTGS Form?
To fill Bank of Baroda RTGS form one needs to follow the steps as mentioned below:
How to Transfer Funds Through Bank of Baroda RTGS?
If you want to transfer money through Bank of Baroda RTGS net banking you need to follow the steps mentioned below:
What are Bank of Baroda RTGS Charges
The charges applicable for transactions made through Bank of Baroda RTGS are:
Rs. 2 lakhs and Rs. 5 lakhs – Rs. 25 (excluding GST) per transaction from 8:00 am to 11:00 am
Rs. 27 per transaction from 11:00 am to 1:00 pm
IMPS or Immediate Payment Service is an easy way to make fund transfers from anywhere and at any time. This instant interbank electronic fund transfer mechanism can be used by customers of Bank of Baroda. This fund transfer service is useful for customers who want to make cashless transfers to recipients. To use IMPS, one requires an MMID and mobile number. One can also initiate the transaction using the bank account number and the IFSC code. This funds transfer service is available 24x7 through mobile banking and internet banking. IMPS is similar to NEFT except that transfers are done immediately irrespective of bank timings and holidays.
Who is Eligible for Bank of Baroda IMPS?
A customer who has a bank account with Bank of Baroda is eligible to use the IMPS facility. One has to register for the Bank of Baroda M-Connect service through a debit/ATM card. Customers who do not have a debit card can visit a Bank of Baroda branch to apply for Baroda M-Connect. The bank will then issue a 7-digit MMID that gets linked to the primary bank account. The MMID is sent via SMS to the registered mobile number of the applicant. Customers can also generate their MMID using mobile banking services. For this, they need to select “Fund Transfer - Other Bank”. Next click on “Know your MMID”.
What are the Benefits of using Bank of Baroda IMPS?
IMPS services offered by Bank of Baroda have several benefits for customers. Listed here are some of them:
How to Transfer Money by using Bank of Baroda IMPS Service
Here are the steps to be followed for transferring money using Bank of Baroda’s IMPS service:
Bank of Baroda is a leading commercial bank in India that was established more than a hundred years ago in 1908 in the city of Baroda. After nationalization, it became a wholly-owned Government bank in 1969. The bank today offers varied services including fund transfer mechanisms like NEFT, RTGS, and IMPS.
1. Is NEFT chargeable in Bank of Baroda?
Bank of Baroda NEFT transactions are allowed free of charge up to a maximum of Rs. 2 lakhs. If a transaction value exceeds Rs. 2 lakhs, a nominal charge of Rs. 25 is applicable per transaction.
2. Does Bank of Baroda charge for IMPS transfer?
Bank of Baroda currently does not levy any charges for IMPS transfers.
3. What is the NEFT limit in Bank of Baroda?
Bank of Baroda has a maximum limit of Rs. 5 lakhs for NEFT transfers done through mobile banking or internet banking. For NEFT transactions done through the bank branch, there is no limit.
4. Is NEFT available 24 hours?
Yes, NEFT services are available 24/7 and can be initiated at any time.
5. Can we transfer Rs. 10 lakhs per day through NEFT?
If you are using Bank of Baroda NEFT services, you can transfer Rs. 10 lakhs by visiting the bank branch. The maximum amount that can be transferred through NEFT online is Rs. 5 lakhs.
6. Can I transfer Rs. 2 lakhs through IMPS?
For IMPS, the transaction limit set by the Bank of Baroda is Rs. 50,000 per day and Rs. 2.5 lakhs per month.
7. Is IMPS transfer free?
Bank of Baroda currently offers IMPS services for free and users don’t have to pay any charges.
8. What are the IMPS and NEFT charges?
For IMPS, the Bank of Baroda does not levy any charges as of now. For NEFT, users can make transactions up to Rs. 2 lakhs. Beyond Rs. 2 lakhs, users have to pay Rs. 25 per NEFT transaction.
9. Can I transfer Rs. 1 crore through RTGS?
The maximum amount that can be transferred through Bank of Baroda RTGS is Rs. 5 lakhs.
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