Bank of India NEFT Form – Complete Guide to Online & Offline Transfers

Key Insights

• BOI charges ₹2.00 + GST for outward NEFT through the branch for amounts under ₹10,000 and ₹4.50 + GST for amounts over ₹10,000.
   
• BOI’s online NEFT is accessible 24/7, every day of the year, with settlement in half-hourly batches.
   
• You can download, print, and complete the “RTGS/NEFT Remittance Application Format” PDF that BOI has on its website.

The Bank of India NEFT Form is the official form you fill out to tell the NOI bank to transfer money from your account to another bank through the National Electronic Funds Transfer (NEFT) system.  

NEFT transfers play a vital role during financial emergencies. Let’s take the example of my friend, Muskan, to understand this better. She needed to send money urgently to her parents for a medical expense. The hospital urgently requires a ₹2,00,000 deposit before starting the treatment. The money was received in the parents’ bank account within 2 hours. 

We will see Muskan’s methods for making the process quick and easy, as well as all the crucial information you must have about the Bank of India NEFT form.

How to Download the Bank of India NEFT Form?

Here is how Muskan downloaded the Bank of India NEFT Form from BOI’s official website: 
 

1. Visit the BOI website.
    
2. Go to the “Downloads” section. The BOI's Downloads Documents page contains a list of forms. 
    
3. Find the file named “RTGS/NEFT Remittance Application Format”. Click on it. The file can be found on the BOI website at: RTGS/NEFT Remittance Application Format (PDF).
    
4. If you wish to submit the PDF in person through a branch, download it, save it, open it, and then print it.
    
5. Verify the date on the form to ensure you are selecting the most recent version.
    

Muskan completes the process on her laptop, prints the form, and brings it to the branch.

How to fill Bank of India NEFT Form (Step-by-Step Guide)

Muskan carefully filled out the Bank of India NEFT form because she wanted her transfer to go smoothly to prevent delays. Here are the fields that needed to be understood and written properly:
 

Muskan signed the form and gave it to the branch officer for fast processing after verifying the account number and IFSC code twice.

Required Documents for Bank of India NEFT Form

Muskan must bring the following with her when she goes to the branch to turn in the Bank of India NEFT form:
 

1. Valid identity verification in accordance with BOI KYC standards (e.g., Aadhaar, PAN, Voter ID).
    
2. Her account number and branch can be found in her account passbook or statement.
    
3. Completed NEFT form (as above).
    
4. Verified beneficiary’s account information, including name, bank, branch, account number, and IFSC.
    
5. Additional declaration (depending on branch policy) if the transaction is large or if the branch requests.
    

The BOI branch takes the form, processes the transfer, checks Muskan’s account, and confirms her identity.

Bank of India NEFT Charges

Muskan verified the NEFT charges to find the exact cost of the transfer before submitting the form. These are the charges for Bank of India NEFT:
 

Muskan paid a ₹4.50 fee + GST because her amount exceeded ₹10,000. 

Bank of India NEFT Timings

Muskan checked the Bank of India's NEFT timings to make sure the money arrived on time before going to the branch.
 

Her transaction was credited within two hours and included in the next 30-minute batch since she filled out the form during business hours.

Conclusion 

Muskan's story suggests how simple and reliable Bank of India NEFT transfers are. She quickly downloaded the Bank of India NEFT Form from the bank’s official website, filled it out after printing, and submitted it to her nearest branch. 

She did not face any issues regarding limits or long delays through NEFT transfer. You'll discover how easy and safe the Bank of India NEFT Form is for your subsequent transfers if you give it a try.

FAQs on Bank of India NEFT Form
 

Q1. Can I cancel my NEFT after submitting the Bank of India NEFT form?

It cannot be canceled once it has been processed. If it hasn't been sent to the NEFT system yet, you can request that the branch cancel it.

Q2. Is there any maximum limit for NEFT at the Bank of India?

Yes, BOI allows NEFT transfers up to ₹10 lakh per day at branches. It depends on your account type and bank policy.

Q3. Is there any minimum amount for NEFT at BOI?
No, there is no minimum limit. You can transfer even small amounts through NEFT.

Q4. How can I track my NEFT transaction status?

You get a UTR (Unique Transaction Reference) number on your receipt after submission. You can use it to track the transfer with the bank.

Q5. Can I use the same form for RTGS and NEFT in the Bank of India?

Yes, BOI provides a combined “RTGS/NEFT Remittance Application Form,” which can be used for both types of transfers.

 

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LoansJagat Team

‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.