The Immediate Payment Service (IMPS) is an interbank fund transfer system in India that facilitates real-time money transfers. It operates 24/7, including weekends and holidays. IMPS is recognised for its efficiency and speed, making it a reliable choice for quick and seamless money transfers.
Read further to know the IMPS charges levied by various banks in India.
Each bank has different IMPS charges, depending on the transaction amount. Some banks may offer IMPS transactions free of charge up to a specific limit, while others apply a nominal fee. Here is an overview of IMPS charges for prominent banks in India:
IMPS fund transfer through net banking or mobile banking (including YONO) is free of charge.
The following table portrays the charges if IMPS transfer is conducted through the branch:
Transaction Amount | IMPS Charges |
Up to ₹1,000 | Free |
₹1,001 to ₹10,000 | ₹2 + GST |
₹10,001 to ₹1,00,000 | ₹4 + GST |
₹1,00,001 to ₹2,00,000 | ₹12 + GST |
₹2,00,001 to ₹5,00,000 | ₹20 + GST |
The following table highlights the IMPS charges of HDFC Bank:
Transaction Amount | IMPS Charges |
Up to ₹1,000 | ₹2.50 + GST |
₹1,001 to ₹1,00,000 | ₹5 + GST |
₹1,00,001 and more | ₹15 + GST |
IMPS fund transfer through ICICI net banking or mobile banking is free. The following table illustrates the different IMPS charges of ICICI Bank:
Transaction Amount | IMPS Charges for Savings Account | IMPS Charges for Current Account |
Up to ₹1,000 | ₹2.5 + GST | ₹2.5 + GST |
₹1,001 to ₹10,000 | ₹5 + GST | ₹5 + GST |
₹10,001 to ₹25,000 | ₹5 + GST | ₹5 + GST |
₹25,001 to ₹1,00,000 | ₹15 + GST | ₹5 + GST |
₹1,00,001 to ₹2,00,000 | ₹15 + GST | ₹15 + GST |
₹2,00,001 to ₹5,00,000 | ₹15 + GST | ₹15 + GST |
IMPS fund transfer through Axis Bank net banking or mobile banking is free. In the following table, you can check the IMPS charges of Axis Bank:
Transaction Amount | IMPS Charges |
Up to ₹1,000 | ₹2.5 + GST |
₹1,001 to ₹1,00,000 | ₹5 + GST |
₹1,00,001 to ₹5,00,000 | ₹10 + GST |
When you use IMPS through net banking to send money from your Kotak Mahindra Savings Account to any other account, there are no IMPS charges for Kotak Mahindra Bank. For branch IMPS transactions, the charges are given below:
Transaction Amount | IMPS Charges |
Up to 10,000 | ₹2.5 + GST |
Above 10,000 - 1,00,000 | ₹5 + GST |
Above 1,00,000 - 2,00,000 | ₹15 + GST |
You can check the IMPS charges of Canara Bank in the following table:
Transaction Amount | IMPS Charges |
Below ₹1,000 | Nil |
₹1,000 to below ₹10,000 | ₹3 + GST |
₹10,001 to below ₹25,000 | ₹5 + GST |
₹25,000 to below ₹1,00,000 | ₹8 + GST |
₹1,00,000 to below ₹2,00,000 | ₹15 + GST |
₹2,00,000 to ₹5,00,000 | ₹20 + GST |
The following table highlights the IMPS charges of RBL Bank:
Transaction Amount | IMPS Charges |
Up to ₹1,00,000 | ₹5 + GST |
Above ₹1,00,000 | ₹15 + GST |
No charges apply for transactions conducted through branch banking, mobile banking, net banking, Alexa banking, or WhatsApp banking.
The following table highlights the IMPS charges of Union Bank of India:
Transaction Amount | IMPS Charges |
Up to ₹1,00,000 | ₹5 + GST |
Above ₹1,00,000 | ₹15 + GST |
In the following table, you can check the IMPS charges of the Bank of Baroda:
Transaction Amount | IMPS Charges for Digital Channels | IMPS Charges Through Branch |
Up to ₹1,000 | ₹2.5 + GST | ₹2.5 + GST |
₹1,001 to ₹25,000 | ₹5 + GST | ₹5 + GST |
₹25,001 to ₹1,00,000 | ₹7.50 + GST | ₹10 + GST |
₹1,00,001 to ₹2,00,000 | ₹15 + GST | ₹20 + GST |
₹2,00,001 to ₹5,00,000 | ₹20 + GST | ₹25 + GST |
Here are the minimum and maximum IMPS charges of different banks in India:
Bank Name | Minimum IMPS Charges | Maximum IMPS Charges |
State Bank of India | Nil | ₹20 + GST |
HDFC Bank | ₹2.50 + GST | ₹15 + GST |
ICICI Bank | ₹2.5 + GST | ₹15 + GST |
Axis Bank | ₹2.5 + GST | ₹10 + GST |
Kotak Bank | ₹2.5 + GST | ₹15 + GST |
Canara Bank | Nil | ₹20 + GST |
RBL Bank | ₹5 + GST | ₹15 + GST |
IndusInd Bank | ₹2.50 + GST | ₹15 + GST |
Union Bank | ₹5 + GST | ₹15 + GST |
Bank of Baroda | ₹2.5 + GST | ₹25 + GST |
Central Bank of India | ₹3.00 + GST | ₹20 + GST |
Punjab and National Bank | Nil | ₹12 + GST |
Indian Overseas Bank | ₹2.5 + GST | ₹15 + GST |
Bandhan Bank | ₹5 + GST | ₹15 + GST |
IMPS is an efficient, real-time service that allows secure and instant fund transfers. Many banks offer IMPS transactions free of charge for smaller amounts, while others charge a nominal fee based on transaction limits. The IMPS charges can vary significantly across banks. It is important to check your bank’s specific IMPS policies before transferring funds.
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