IOB NEFT, IMPS and RTGS Charges

The Indian Overseas Bank levies certain charges against NEFT transfers made through the bank branch. The table below shows the Indian Overseas Bank NEFT charges for different transaction amounts that are made through the bank branch:

Given below are the NEFT timings for Indian Overseas Bank:

Note: The IOB NEFT services will not be available during bank holidays, which include the 2nd and 4th Saturday of the month and any national or state holidays.

IOB customers can follow the steps below to transfer funds using the Indian Overseas Bank NEFT services

Step 1: Go to the IOB internet banking website.

Step 2: Log in with your username and password. 

Step 3: Select 'Fund Transfer,' then select 'Other Bank-NEFT' and press the 'Proceed' button.

Step 4: Fill in the details in the columns 'Pay from,' 'Transfer amount to, ‘sender information,' and 'amount.' After entering the above information, click the 'Proceed' button.

Step 5: Enter the 'Transaction Pin' and select 'Transfer Funds.'

Step 6: Enter the OTP to complete the transaction.

Indian Overseas Bank IMPS service is an instant method to transfer funds from one bank account to another bank account. The service is available 24x7 and can be availed using the internet and mobile banking. However, certain charges are levied on each IMPS transaction by the bank. These charges vary depending on the transaction amount.

 The table below includes the IOB IMPS charges for different transaction amounts:

Customers of Indian Overseas Bank can transfer money from one bank to another account through IMPS by using any of the following methods:

• Through IOB Internet Banking
• Through the IOB Mobile Banking app

1) IMPS Fund Transfer through IOB Net Banking

Here are the steps that must be followed to make an Indian Overseas Bank IMPS transaction using online banking:

• Log into your IOB net banking account using your username and password.
• Go to ‘Funds Transfer’ and choose ‘IMPS’.
• Provide beneficiary details, which include the MMID and mobile number, the IFSC Code and the beneficiary account number.
• Click on submit.
• Enter the transaction amount and the ‘Transaction PIN’ to process the transaction.
• Submit the OTP to complete the transaction.

2) IMPS Fund Transfer through IOB Mobile Application

Below are the steps that must be followed to make an Indian Overseas Bank IMPS transaction using mobile banking:

• Download the IOB app on your phone.
• Log in using your MPIN and password.
• On the home page, click the ‘Fund Transfer’ option
• Now, select ‘Other Bank using IMPS’.
•  Click ‘Using IFSC/AC No.’ to transfer funds through the IFSC code.
•  Select the beneficiary to whom funds are to be transferred.
•  Enter the amount and confirm the transaction.
• Enter the OTP received on your registered phone number to complete the transaction.
• The bank will send a confirmation via SMS and email once the fund has been transferred.

IOB has also enabled its customers to transfer money through RTGS services. This helps for immediate fund transfer from one IOB bank account to another bank account. 

Below are the RTGS charges levied by the Indian Overseas Bank against different transaction amounts.

Given below are the RTGS timings for Indian Overseas Bank:

Note: The RTGS services of Indian Overseas Bank will not be available on the 2nd and 4th Saturday of the month or any other bank holidays.