NEFT vs RTGS vs IMPS: Limits, Timings, Charges in 2026

NEFT, RTGS and IMPS all move money from one bank account to another in India, and all three work 24x7 as of October 2026. Use IMPS for instant transfers up to ₹5 lakh, RTGS for real-time transfers of ₹2 lakh or more, and NEFT for any amount when a wait of up to about an hour is fine. Online NEFT and RTGS are free at most banks for savings accounts, while IMPS charges depend on your bank.

The quick comparison

All three need the beneficiary's account number and IFSC. IMPS can also work with a mobile number and MMID, though that route usually has a much lower limit.

NEFT: the all-purpose transfer

NEFT has run 24x7 since 16 December 2019. Transactions are grouped and settled in half-hourly batches, 48 a day, including Sundays and holidays.

• Speed. The beneficiary bank should credit the money within two hours of the batch settling, and in practice it is usually much faster.
• Failed transfers. If the money cannot be credited, it must be returned to you, typically within two hours of the batch. If the bank delays a credit or return, RBI rules require it to pay penal interest at the RBI repo rate plus 2%, without you having to ask.
• Limits. RBI sets no minimum or maximum. Your bank sets limits for internet and mobile banking, and often a lower limit for the first 24 hours after you add a new payee.
• Cash NEFT. Walk-in customers without an account can send up to ₹50,000 in cash per transaction through NEFT at a branch.

RTGS: for large, real-time payments

RTGS has also run 24x7 since 14 December 2020. Each transaction is settled individually and immediately in RBI's books, which is why it is used for large payments.

• Minimum ₹2 lakh. Anything below must go by NEFT or IMPS.
• No RBI maximum. Banks typically allow ₹10 lakh to ₹25 lakh or more per day online, higher at the branch.
• Speed. The beneficiary bank is expected to credit the account within 30 minutes of receiving the message; usually it takes a few minutes.
• Uses. Property token or registration payments, car down payments, home loan part-prepayments, business payments and large FD bookings in another bank.

IMPS: instant up to ₹5 lakh

IMPS, run by NPCI, credits money within seconds at any hour. It is the rail behind many "instant transfer" buttons in banking apps.

• Limit. As of October 2026, ₹5 lakh per transaction at the system level. Banks may set lower per-transaction or daily limits by channel.
• Charges. Each bank sets its own. Many keep small online IMPS transfers free and charge a few rupees plus GST for larger amounts; branch IMPS usually costs more.
• Failed transfers. Under RBI's 2019 turnaround-time framework for failed transactions, if an IMPS transfer debits you but cannot be credited to the beneficiary, it should be reversed by the next day (T+1), and banks are expected to pay ₹100 per day of delay beyond that, automatically.

Where UPI fits

UPI also runs on NPCI's rails and is the default for everyday payments, but its general per-transaction limit is far lower than IMPS (₹1 lakh for most person-to-person payments, with higher limits for specified merchant categories). For anything above your UPI limit and up to ₹5 lakh, IMPS is the instant option.

Charges: what you actually pay

RBI stopped charging banks for online NEFT and RTGS and asked banks to pass the benefit on, so most banks do not charge savings account customers for NEFT or RTGS done through net banking or the app. Branch transfers can still cost a small amount: typically a few rupees for small NEFT payments, and roughly ₹25 to ₹55 for RTGS depending on amount and time, plus 18% GST. IMPS fees are entirely bank-specific. Always check your bank's current schedule of charges.

Worked example: paying ₹7 lakh for a flat booking

Neha must pay a builder ₹7,00,000 today at 9 pm. Her bank's online limits: IMPS ₹5 lakh per day, NEFT and RTGS ₹10 lakh per day combined.

RTGS is the cleanest: one transaction, one UTR, real-time settlement. If she pays at the branch instead, she would pay an RTGS fee of around ₹50 plus 18% GST, roughly ₹50 × 1.18 = ₹59.

Before sending, Neha should add the builder as a payee in advance (many banks cap transfers to a newly added payee for the first few hours), use the beneficiary name lookup to confirm the account holder's name, and save the UTR for her records.

If you are using RTGS to make a lump-sum part-prepayment on a home loan, check the interest saved with the loan prepayment calculator first.

Safety checks before any transfer

• Use the free name check. Since 1 April 2025, RBI has required banks to offer a beneficiary account name lookup for NEFT and RTGS, free of charge, in net banking, mobile banking and at branches. It shows the name linked to the account number and IFSC before you send.
• Verify bank details by phone. Builders, landlords and vendors are common targets for email spoofing. Confirm account numbers on a call to a known number.
• Test with a small amount for large first-time payments.
• Wrong account? Contact your bank at once with the UTR or reference number. The bank can contact the beneficiary bank, but money credited to a valid wrong account usually needs the recipient's consent to be returned.
• Fraud? Report it to your bank and on the 1930 helpline or cybercrime.gov.in immediately. See what to do after a UPI or bank transfer scam.

All three transfers show up in your bank statement with codes such as NEFT DR, RTGS DR or IMPS/MMT. Our guide on how to read a bank statement explains the entries.

Which one should you use?

• Salary, rent, SIP top-ups, bills with no urgency: NEFT.
• Urgent payment up to ₹5 lakh, any hour: IMPS (or UPI if within your UPI limit).
• ₹2 lakh or more, needs to land now: RTGS.
• More than ₹5 lakh at night or on a holiday: RTGS or NEFT; both work 24x7.

Key takeaways

• As of October 2026, NEFT, RTGS and IMPS all work 24x7, including holidays.
• IMPS is instant but capped at ₹5 lakh per transaction; RTGS needs at least ₹2 lakh; NEFT has no RBI minimum or maximum.
• Online NEFT and RTGS are free at most banks for savings accounts; IMPS charges vary by bank.
• Delayed NEFT credits attract penal interest, and failed IMPS transfers should reverse by T+1 with ₹100 a day compensation for delay.
• Use the free beneficiary name lookup and confirm details by phone before large transfers.