IMPS Charges: Check Out IMPS Transfer Charges for All Banks
The Immediate Payment Service (IMPS) is an interbank fund transfer system in India that facilitates real-time money transfers. It operates around the clock, including weekends and holidays. IMPS is recognised for its efficiency and speed, making it a reliable choice for quick and seamless money transfers. Nominal charges may apply based on the IMPS transaction amount and the policies of individual banks.
Read further to know the IMPS charges levied by various banks in India.
IMPS Charges of Different Banks
Different banks in India have varying IMPS charges depending on the transaction amount. Some banks may offer IMPS transactions free of cost up to a specific limit, while others apply nominal fees. Here is an overview of IMPS charges for prominent banks in India:
SBI IMPS Charges
IMPS fund transfer through net banking or mobile banking (including YONO) is free.
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 |
HDFC Bank IMPS Charges
IMPS fund transfer through HDFC net banking or mobile banking is free. The following table highlights the IMPS charges of HDFC Bank:
Transaction Amount | IMPS Charges |
Up to ₹1,000 | ₹3.50 + GST |
₹1,001 to ₹1,00,000 | ₹5 + GST |
₹1,00,001 and more | ₹15 + GST |
ICICI Bank IMPS Charges
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 |
Axis Bank IMPS Charges
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 |
Kotak Mahindra Bank IMPS Charges
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 |
Canara Bank IMPS Charges
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 |
RBL Bank IMPS Charges
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 |
IndusInd Bank IMPS Charges
No charges apply for transactions conducted through branch banking, mobile banking, net banking, Alexa banking, or WhatsApp banking.
Union Bank IMPS Charges
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 |
Bank of Baroda IMPS Charges
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 |
All Banks IMPS Charges
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 up to ₹1,000 | ₹20 + GST |
HDFC Bank | ₹3.50 + 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 up to ₹1,000 | ₹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 up to ₹1,000 | ₹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 cost for smaller amounts, while others levy nominal fees 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.
Related Articles:
1. IMPS Limit
2. Differences between NEFT, RTGS and IMPS
3. What is MMID?
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About the Author
Rucha K
Insurance doesn’t have to be a maze of fine print. I simplify policies, bring clarity to the details, and make financial decisions easier—one blog at a time. I enjoy turning numbers and insights into clear, actionable narratives that simplify personal finance. Read more
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