IMPS Transfer
Immediate Payment Service — limit, timings & charges
24×7
Available
₹5 lakh
Per Txn Limit
Instant
Transfer Time
₹5–25
Typical Charge
| Full form | Immediate Payment Service |
| Operated by | NPCI (National Payments Corporation of India) |
| Availability | 24×7×365 — including weekends & holidays |
| Settlement | Instant (real-time) |
| Minimum amount | ₹1 |
| Maximum per transaction | ₹5,00,000 (₹5 lakh) |
| Daily limit | Set by individual banks (typically ₹5–₹10 lakh) |
| Charges | ₹5–₹25 per transaction + GST (varies by bank) |
| Transfer time | Instant (seconds) |
| Best for | Instant transfers ₹1 lakh–₹5 lakh |
Typical IMPS Charge Structure
| Amount Range | Typical Fee (+ GST) |
|---|---|
| ₹1 – ₹1,000 | ₹3.50 |
| ₹1,001 – ₹1,00,000 | ₹5.00 |
| ₹1,00,001 – ₹2,00,000 | ₹15.00 |
| ₹2,00,001 – ₹5,00,000 | ₹25.00 |
Charges vary by bank. Some banks offer free IMPS on mobile apps. Check your bank's schedule of charges.
What you need to initiate an IMPS transfer
- → Beneficiary's account number
- → Beneficiary bank's IFSC code (11 characters)
- → Or: Beneficiary's mobile number + MMID (7-digit Mobile Money Identifier)
IMPS vs NEFT vs RTGS vs UPI
FAQs
Can I use IMPS on bank holidays?
Yes. IMPS is available 24×7×365 and works on all bank holidays, Sundays, and national holidays. It is the oldest 24×7 real-time fund transfer system in India, launched in 2010.
Why is IMPS charged when NEFT and RTGS are free?
The RBI waived charges for NEFT and RTGS online transfers but has not done the same for IMPS. IMPS uses NPCI's Immediate Payment Service infrastructure, and banks are permitted to charge a fee for this service. Some banks waive IMPS fees as part of premium or digital accounts.
Is UPI better than IMPS?
For amounts up to ₹1 lakh, UPI is generally preferable — it's free, instant, and simpler (no account number or IFSC code needed). For transfers between ₹1 lakh and ₹5 lakh where you need instant settlement, IMPS is the right choice since UPI's standard limit is ₹1 lakh per transaction.