Canara Bank IMPS Charges and Limits Guide
Canara Bank IMPS Charges and Limits Guide
Canara Bank charges a small fee for IMPS (Immediate Payment Service) transactions, which vary based on the transfer amount. IMPS is available 24×7 including holidays, making it the fastest way to send money when NEFT processing windows are not convenient. Here are the current charges and limits for 2026.
Canara Bank IMPS Transaction Charges
| Transaction Amount | Charges (per transaction) |
|---|---|
| Up to Rs 10,000 | Rs 2.50 + GST |
| Rs 10,001 to Rs 1,00,000 | Rs 5 + GST |
| Rs 1,00,001 to Rs 2,00,000 | Rs 15 + GST |
| Above Rs 2,00,000 | Rs 25 + GST |
GST is charged at 18% on the base transaction fee. These charges apply to IMPS transactions initiated via Canara Bank net banking and the Canara ai1 app.
IMPS Transaction Limits at Canara Bank
- Minimum amount: Re 1
- Maximum per transaction: Rs 5,00,000
- Daily limit: Rs 5,00,000 (cumulative across all IMPS transactions in a day)
NPCI sets the maximum IMPS transaction limit at Rs 5,00,000 per transaction as per 2021 guidelines. For amounts above this, use RTGS.
IMPS vs NEFT vs RTGS: When to Use Which
| Feature | IMPS | NEFT | RTGS |
|---|---|---|---|
| Availability | 24×7 | 24×7 | Business hours |
| Settlement | Instant | Batch (near real time) | Instant |
| Minimum Amount | Re 1 | Re 1 | Rs 2,00,000 |
| Maximum Amount | Rs 5,00,000 | No upper limit | No upper limit |
Key Takeaways
- Canara Bank IMPS charges range from Rs 2.50 to Rs 25 per transaction plus 18% GST.
- Maximum IMPS transaction limit is Rs 5,00,000 per NPCI guidelines.
- IMPS is available 24×7 including weekends and bank holidays.
- For transfers above Rs 5,00,000, use RTGS which is also instant during business hours.
Frequently Asked Questions
What are Canara Bank IMPS charges for Rs 50,000?
For a Rs 50,000 IMPS transaction, Canara Bank charges Rs 5 plus 18% GST, totaling Rs 5.90.
Is IMPS free on the Canara ai1 app?
No. IMPS charges apply regardless of whether you initiate the transaction through the Canara ai1 app, net banking, or any other channel. The same fee slab applies.
What is the maximum IMPS limit for Canara Bank?
The maximum IMPS limit is Rs 5,00,000 per transaction and Rs 5,00,000 per day, as set by NPCI.
Does Canara Bank charge for NEFT transfers?
No. NEFT transfers from Canara Bank savings accounts are free as per RBI’s directive to not charge customers for NEFT transactions initiated online.
