NEFT vs RTGS vs IMPS: Limits, Speed & Which to Use
Last verified: June 2026, against RBI/NPCI rules and official procedures. Charges, limits and processes can vary by bank and change over time — confirm with your bank. General information, not financial advice.
NEFT, RTGS and IMPS are the three main ways to transfer money between bank accounts in India. They differ in speed, limits and best use — here is how to pick the right one.
Quick comparison
| NEFT | RTGS | IMPS | |
|---|---|---|---|
| Speed | Near real-time, settled in batches | Real-time | Instant |
| Availability | 24x7x365 | 24x7x365 | 24x7x365 |
| Minimum | ₹1 | ₹2,00,000 | ₹1 |
| Maximum | No limit (bank caps may apply) | No limit | Up to ₹5,00,000 |
| Best for | Routine transfers | Large, high-value transfers | Instant small/medium transfers |
NEFT
National Electronic Funds Transfer settles transactions on a 24×7 basis. There is no minimum or maximum set by RBI (your bank may cap per-transaction online). The RBI has waived NEFT/RTGS online charges for savings-account customers, so most net-banking transfers are free.
RTGS
Real-Time Gross Settlement is for high-value transfers — minimum ₹2 lakh, no upper limit — settled individually in real time. Use it when you are moving large sums (e.g., a property payment).
IMPS
Immediate Payment Service (run by NPCI) is instant, 24×7, for amounts up to ₹5 lakh. It is ideal when you need money to reach the other account immediately, including to mobile/account combinations.
What about UPI?
For smaller everyday transfers, UPI is usually simplest (instant, free, typically up to ₹1 lakh per transaction, higher for some categories). Use NEFT/RTGS/IMPS when paying to an account number + IFSC, or for amounts above UPI limits.
What you need to transfer
The beneficiary’s account number and IFSC code, name, and (for IMPS) sometimes mobile number + MMID. Add the beneficiary in your net banking/app first; there may be a short cooling period before the first transfer.
Worked example: which to use
- Sending ₹15,000 to a friend at 11 pm: UPI or IMPS — instant.
- Paying ₹3 lakh to a builder: RTGS (minimum ₹2 lakh) or NEFT — both settle the same day; RTGS is real-time.
- Sending ₹8 lakh to a family member: NEFT or RTGS, since IMPS is usually capped at ₹5 lakh.
Online NEFT and RTGS from savings accounts are free at most banks; IMPS may carry a small fee for larger amounts.
Avoiding mistakes
Use the “verify beneficiary name” step that banks now show before sending, and double-check the account number. A wrong transfer can be recovered only with the receiving bank’s cooperation — see wrong transfer recovery.
Reviewed October 2026. Card and product terms change — confirm current details with the provider.
FAQs
Is NEFT available 24×7?
Yes, NEFT and RTGS run round the clock, including holidays.
Which is fastest — NEFT, RTGS or IMPS?
IMPS and RTGS are effectively instant/real-time; NEFT is near real-time, settled continuously. For instant small transfers, IMPS or UPI; for large sums, RTGS.
What is the minimum for RTGS?
₹2 lakh — it is meant for high-value transfers. Below that, use NEFT, IMPS or UPI.
Are these transfers free?
Online NEFT/RTGS are free for savings accounts (RBI waiver). IMPS may carry a small charge depending on the bank.
What is the IMPS limit?
Up to ₹5 lakh per transaction, though individual banks may set lower caps.
