bank of india trf charges : Do you have an account in Bank of India and have you also received a TRF message from the bank and want to know why the bank sends TRF message, what is TRF Charge and why is it deducted, then you have come to the right place. Today we will know what is TRF Charge and why is trf charge deducted, complete information.
Last time we learned what is TRF, in which the most asked question was what is TRF Charge and why is it deducted, which we will know today.
TRF means different meanings in different fields, like in banks TRF means TRANSFER. When you transfer money to the bank or use any service of the bank, then the bank indicates TRANSFER as TRF through a message.
What is TRF Charges?
It is a fee imposed by banks or financial institutions when funds are transferred between accounts or Can be a service Charge. There are several contexts in which TRF charges may apply:
Bank Transfers :
Whenever money is transferred from one bank account to another, within the same bank or to another, a TRF charge may apply. It can be a domestic or international transfer.
Credit Card Payments:
A TRF charge might apply if you transfer a balance from one credit card to another.
Fund Transfers:
If you transfer funds between investment options or between accounts, you might incur a transfer fee.
Service Charges:
A TRF charge might be a Service charges like SMS charges etc.
Transfers can be charged differently depending on the bank, the type of transfer, the amount, and whether the transfer is domestic or international. If you have questions about specific TRF charges, you should contact your bank or financial institution.
Bank of India TRF Charges
The Bank of India (BOI) applies various charges for different services, including transaction charges (trf charges), SMS charges, and charges related to insurance schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY). Here are the details for these charges as of the latest updates:
SMS Charges
| SMS alert charges | ₹15 + GST per quarter |
Insurance Scheme Charges
| PMJJBY | PMSBY | |
| Annual Premium | ₹436 per annum | ₹20 per annum |
| Coverage | ₹2 lakh in case of death due to any reason | ₹2 lakh for accidental death and full disability, and ₹1 lakh for partial disability |