Central Bank of India IMPS Charges: Fees, Limits, Timing

Central Bank of India IMPS Charges: Fees, Limits, Timing

Central Bank of India charges a nominal fee for IMPS transfers above Rs 1,000, with the service available 24 hours a day including weekends and public holidays. Knowing the exact charge slab before transferring helps you pick the right payment method.

What Is IMPS?

IMPS (Immediate Payment Service) is a real-time interbank fund transfer system run by NPCI. Unlike NEFT batches, IMPS credits the recipient instantly at any time of day or night, including bank holidays.

Central Bank of India IMPS Charges (Applicable Slabs)

• Up to Rs 1,000: No charge (free)
• Rs 1,001 to Rs 1 lakh: Rs 5 plus GST
• Rs 1,00,001 to Rs 2 lakh: Rs 15 plus GST
• Above Rs 2 lakh up to Rs 5 lakh: Rs 25 plus GST

GST at 18% is levied on the base fee. These charges are subject to revision. Always confirm current rates on the Central Bank of India official website or via the Cent Mobile app before initiating a large transfer.

IMPS Transaction Limits at Central Bank of India

• Minimum amount: Re 1
• Maximum per transaction: Rs 5 lakh
• Daily limit: Rs 5 lakh (varies by channel and account type)

How to Transfer via IMPS Using Cent Mobile

1. Open Cent Mobile and log in with your MPIN.
2. Tap on Fund Transfer and select IMPS.
3. Enter the beneficiary’s account number and IFSC code, or use their mobile number and MMID.
4. Enter the amount and an optional remark.
5. Review details and confirm with your MPIN or biometric authentication.
6. The transfer is credited instantly. Note the transaction reference for your records.

IMPS vs NEFT vs RTGS at Central Bank of India

• IMPS: Instant, 24×7, max Rs 5 lakh, small fee above Rs 1,000
• NEFT: Batch-based, available round the clock, free or minimal fee
• RTGS: Instant, banking hours only, minimum Rs 2 lakh, higher charges

Key Takeaways

• IMPS is free for transfers up to Rs 1,000; fees of Rs 5 to Rs 25 plus 18% GST apply above that.
• Maximum IMPS transfer is Rs 5 lakh per transaction and per day.
• IMPS operates 24×7 including Sundays and bank holidays.
• Use Cent Mobile for quick IMPS transfers with MPIN or biometric authentication.

Frequently Asked Questions

Is IMPS free at Central Bank of India?

IMPS is free for transfers up to Rs 1,000. For amounts above Rs 1,000, charges range from Rs 5 to Rs 25 plus 18% GST, depending on the amount slab. These charges are deducted from your account at the time of transfer.

What is the maximum IMPS transfer limit at Central Bank of India?

The maximum IMPS transfer limit at Central Bank of India is Rs 5 lakh per transaction. The daily aggregate IMPS limit is also typically Rs 5 lakh, though this may vary for specific account types or channels.

Can I do IMPS on a Sunday at Central Bank of India?

Yes. IMPS is a 24×7 real-time service and is fully available on Sundays, Saturdays, and public holidays. The transfer is credited to the beneficiary’s account instantly regardless of the day or time.