{"id":7087,"date":"2025-06-26T10:48:15","date_gmt":"2025-06-26T10:48:15","guid":{"rendered":"https:\/\/lemonn.co.in\/blog\/?post_type=banking&p=7087"},"modified":"2025-06-26T10:48:24","modified_gmt":"2025-06-26T10:48:24","slug":"imps-in-india-instant-fund-transfers-made-easy","status":"publish","type":"banking","link":"https:\/\/lemonn.co.in\/blog\/banking\/imps-in-india-instant-fund-transfers-made-easy\/","title":{"rendered":"IMPS in India \u2013 Instant Fund Transfers Made Easy"},"content":{"rendered":"\n

IMPS<\/strong> stands for Immediate Payment Service<\/strong>. Managed by NPCI<\/strong>, it\u2019s a real-time electronic fund transfer system available 24\u00d77<\/strong>\u2014including holidays\u2014across mobile, net banking, ATMs, and USSD.<\/p>\n\n\n\n

1. IMPS \u2013 Key Features<\/h2>\n\n\n\n
    \n
  • Real-time settlement<\/strong>: Funds reach the recipient instantly, no batching delays.<\/li>\n\n\n\n
  • Always available<\/strong>: No cut-off\u2014even on Sundays or bank holidays.<\/li>\n\n\n\n
  • Multichannel support<\/strong>: Use mobile apps, net banking, ATMs, SMS, and USSD (*99#).<\/li>\n\n\n\n
  • Versatile transfers<\/strong>:\n
      \n
    • P2P<\/strong>: using mobile number + MMID<\/li>\n\n\n\n
    • P2A<\/strong>: using account number + IFSC<\/li>\n\n\n\n
    • Aadhaar-based and merchant payments also supported.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
    • Secure<\/strong>: Protected through OTPs and MPIN or transaction passwords.<\/li>\n<\/ul>\n\n\n\n

      2. IMPS Limits (2025)<\/h2>\n\n\n\n
        \n
      • Minimum transfer<\/strong>: \u20b91<\/li>\n\n\n\n
      • Maximum per transaction\/day<\/strong>: \u20b95\u202flakh (subject to individual bank policies)<\/li>\n<\/ul>\n\n\n\n

        3. IMPS Charges<\/h2>\n\n\n\n

        Fees vary by bank and transaction size:<\/p>\n\n\n\n

        Transaction Amount<\/th>Approx. Charges + GST<\/th><\/tr><\/thead>
        Up to \u20b91,000<\/td>\u20b93\u20135<\/td><\/tr>
        \u20b91,001\u2013\u20b91\u202flac<\/td>\u20b95\u2013\u20b910<\/td><\/tr>
        \u20b91\u202flac\u2013\u20b95\u202flakh<\/td>\u20b910\u2013\u20b920+<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
          \n
        • Some banks like SBI<\/strong>, Kotak<\/strong>, and PNB<\/strong> often offer free IMPS<\/strong>.<\/li>\n\n\n\n
        • Others (Axis, HDFC, ICICI, etc.) charge per amount slab.<\/li>\n<\/ul>\n\n\n\n

          4. IMPS Transaction Timing<\/h2>\n\n\n\n
            \n
          • Always on\u201424\u00d77\u00d7365<\/strong>\u2014with instant<\/strong> credit.<\/li>\n\n\n\n
          • In rare failures or timeouts, resolution may take a few hours; refunds processed per bank policy.<\/li>\n<\/ul>\n\n\n\n

            5. How to Use IMPS<\/h2>\n\n\n\n

            Via Mobile or Net Banking:<\/h3>\n\n\n\n
              \n
            1. Login \u2192 Choose Fund Transfer<\/strong><\/li>\n\n\n\n
            2. Select IMPS<\/strong> (P2P or P2A)<\/li>\n\n\n\n
            3. Enter beneficiary details (name, mobile\/MMID or account\/IFSC)<\/li>\n\n\n\n
            4. Enter amount, authorize with MPIN\/OTP<\/strong><\/li>\n\n\n\n
            5. Get confirmation\u2014funds land instantly.<\/li>\n<\/ol>\n\n\n\n

              Via ATM:<\/h3>\n\n\n\n
                \n
              1. Insert card \u2192 Select IMPS\/Funds Transfer<\/strong><\/li>\n\n\n\n
              2. Enter beneficiary mobile\/MMID or account\/IFSC<\/li>\n\n\n\n
              3. Enter amount + PIN \u2192 Confirm<\/li>\n\n\n\n
              4. Transaction completes instantly.<\/li>\n<\/ol>\n\n\n\n

                Via SMS\/USSD:<\/h3>\n\n\n\n
                  \n
                • Some banks support SMS IMPS: objectivecCopyEditIMPS MMID amount MPIN<\/code><\/li>\n\n\n\n
                • Or dial *99# \u2192 IMPS<\/strong> and follow prompts (no internet)<\/li>\n<\/ul>\n\n\n\n

                  6. IMPS vs NEFT vs RTGS<\/h2>\n\n\n\n
                    \n
                  • Speed<\/strong>: IMPS (instant) > RTGS (~minutes) > NEFT (batch, often minutes)<\/li>\n\n\n\n
                  • Availability<\/strong>: IMPS & UPI \u2013 24\u00d77; NEFT & RTGS now 24\u00d77 after RBI updates<\/li>\n\n\n\n
                  • Limits<\/strong>: IMPS max \u20b95\u202flakh; RTGS min \u20b92\u202flakh; NEFT no min\/max<\/li>\n\n\n\n
                  • Charges<\/strong>: IMPS: small fee; NEFT & RTGS: higher branch fees<\/li>\n<\/ul>\n\n\n\n

                    Why Choose IMPS?<\/h2>\n\n\n\n
                      \n
                    • Instant and always available<\/li>\n\n\n\n
                    • Flexible options (P2P, P2A, Aadhaar)<\/li>\n\n\n\n
                    • Available across multiple digital channels<\/li>\n\n\n\n
                    • Ideal for urgent small-to-medium payments<\/li>\n<\/ul>\n\n\n\n

                      <\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-7087","banking","type-banking","status-publish","hentry"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking\/7087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/banking"}],"about":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/types\/banking"}],"wp:attachment":[{"href":"https:\/\/lemonn.co.in\/blog\/wp-json\/wp\/v2\/media?parent=7087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}