NEFT / RTGS / IMPS Information
Timings, limits and differences between NEFT, RTGS, IMPS and UPI.
NEFT vs RTGS vs IMPS vs UPI
| Feature | NEFT | RTGS | IMPS | UPI |
|---|---|---|---|---|
| Full form | National Electronic Funds Transfer | Real Time Gross Settlement | Immediate Payment Service | Unified Payments Interface |
| Operated by | RBI | RBI | NPCI | NPCI |
| Availability | 24×7, all days (since Dec 2019) | 24×7, all days (since Dec 2020) | 24×7 | 24×7 |
| Settlement | Half-hourly batches | Real-time, one by one | Instant | Instant |
| Minimum | No minimum | ₹2 lakh | ₹1 | ₹1 |
| Maximum | No RBI limit (bank limits apply) | No RBI limit | ₹5 lakh per transaction | Generally ₹1 lakh (higher for some categories) |
| Best for | Regular transfers | High-value transfers | Instant transfers via account/IFSC | Everyday payments via UPI ID / QR |
What do I need to send money by NEFT, RTGS or IMPS?
- Beneficiary name
- Account number
- IFSC code of the beneficiary's branch (find IFSC)
- Account type (for some banks)
Are there charges?
The RBI does not charge banks for NEFT and RTGS, and banks have been advised not to charge savings account customers for online NEFT transfers. Branch transfers and IMPS may carry bank charges – check your bank's schedule of charges.
Limits and rules are set by the RBI and NPCI and may change. Refer to rbi.org.in and npci.org.in for the latest.
Frequently asked questions
RTGS is meant for large transfers. The minimum amount is ₹2 lakh, with no upper limit prescribed by the RBI.
Yes. NEFT has been available 24×7, all days of the year, since 16 December 2019.
The RBI raised the per-transaction IMPS limit to ₹5 lakh. Banks may set lower limits for their customers.
Key facts from official sources
NEFT has been available 24×7 on all days of the year since 16 December 2019. — Source: Reserve Bank of India
RTGS is available 24×7 and has a minimum transfer amount of ₹2 lakh. — Source: Reserve Bank of India
Customers of banks and NBFCs can file free complaints under the RBI Integrated Ombudsman Scheme at cms.rbi.org.in. — Source: Reserve Bank of India
Written by BankHelpline Editorial Team · Reviewed by Sheetal Pawar, Director · Last updated . Content is researched from official sources such as the Reserve Bank of India (RBI), credit bureaus and lender websites, and reviewed periodically. Rates and charges change often – always confirm the latest terms with the lender.