By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Investment SimplifiedInvestment Simplified
  • Tax
    • Popular Searches
    • What is Form 16?
    • Trademark Registration Fees
    • TDS Full Form
    • Ad Valorem Tax
    • How to Save Tax?
  • Aadhaar
    • Popular Searches
    • How to Book Aadhaar Card Appointment?
    • E-Aadhaar And It’s Benefits
    • What is a Masked Aadhaar?
    • ESign Aadhaar: A Complete Guide
    • Aadhaar Card Address Change
  • EPF
    • Popular Searches
    • EPFO Member Portal – Login, Registration
    • EPFO Establishment Search
    • Guide to Your EPFO Member Login
    • EPF Interest Rate
    • What Is UAN Activation?
  • PAN Card
    • Popular Searches
    • What is a PAN Card
    • NSDL PAN Card
    • UTI PAN
    • e-PAN Card
    • PAN Card Apply
  • Banking
    • Banks
      • Popular Searches
      • State Bank of India (SBI)
      • Bank of Baroda (BOB)
      • Canara Bank
      • Indian Bank
      • Bank of India (BOI)
    • Bank Timings
      • Popular Searches
      • Bank of Baroda Timings
      • IDBI Bank Timings
      • Union Bank Timings
      • Karnataka Bank Timings
      • Central Bank of India Timings
      • Canara Bank Timings
    • Mini Statement
      • Popular Searches
      • Axis Bank Mini Statement
      • HDFC Mini Statement
      • Bank of Baroda Mini Statement
      • Union Bank of India Mini Statement
      • SBI Mini Statement
    • Balance Enquiry
      • Popular Searches
      • Canara Bank Balance Enquiry by SMS, Missed Call, Netbanking
      • SBI Balance Enquiry
      • Union Bank of India Balance Enquiry Number
      • BOB Balance Enquiry
      • PNB Balance Check Number – Enquiry by SMS, Missed Call, Netbanking
    • NEFT
      • Popular Searches
      • HDFC NEFT
      • SBI NEFT
      • Axis Bank NEFT
      • ICICI Bank NEFT
      • Canara Bank NEFT
    • Net Banking
      • Popular Searches
      • HDFC Bank Net Banking
      • SBI Net Banking
      • ICICI Net Banking
      • Axis Bank Net Banking
      • IOB Net Banking
    • Customer Care
      • Popular Searches
      • Central Bank of India Customer Care Number
      • Bank of Baroda Customer Care – Missed Call and Toll Free Number
      • Bank of Maharashtra Customer Care
      • Punjab National Bank Customer Care Number – PNB Grievance Redressal
      • IOB Customer Care Number
    • UPI
      • Popular Searches
      • BHIM
      • Google Pay
      • BHIM SBI Pay
      • Union Bank UPI
      • HDFC UPI
    • Debit Card
      • Popular Searches
      • SBI Debit Card
      • HDFC Debit Card
      • PNB Debit Card
      • Axis Bank Debit Card
      • Kotak Debit Card
    • RTGS
      • Popular Searches
      • RTGS Process
      • SBI RTGS
      • ICICI Bank RTGS Form
      • Axis Bank RTGS Form
      • HDFC RTGS Form
    • IMPS
      • Popular Searches
      • IMPS Limit
      • IMPS vs. NEFT
      • IMPS vs. NEFT vs. RTGS
      • MMID
    • Cheque
      • Popular Searches
      • Types of Cheques
      • Blank Cheque
      • Cancelled Cheque – How to Write a Cancelled Cheque?
      • Account Payee Cheque
      • Banker’s Cheque
    • Bank Holidays
      • Popular Searches
      • Bank Holidays in June 2023
      • Bank Holidays in July 2023
      • Bank Holidays in August 2023
      • Bank Holidays in September 2023
      • Bank Holidays in October 2023
    • Mobile Banking
      • Popular Searches
      • SBI Mobile Banking
      • HDFC Mobile Banking
      • Bank of Baroda Mobile Banking
      • Indian Bank Mobile Banking
      • Canara Bank Mobile Banking
    • Passbook
      • Popular Searches
      • SBI Passbook
      • Union Bank Passbook
      • BOB Passbook
      • HDFC Passbook
      • Axis Bank Passbook
    • Demand Draft
      • Popular Searches
      • Demand Draft Validity
      • Demand Draft Form
  • Savings Account
    • Popular Searches
    • What is a savings account
    • SBI Savings Account
    • Bank of Baroda Saving Account
    • Bank of Maharashtra Saving Account
    • Central Bank of India Saving Account
  • Insurance
    • General Insurance
    • Car Insurance
    • Travel Insurance
    • Pension & Retirement
  • About Us
  • Contact
Reading: IMPS Limit
Share
Investment SimplifiedInvestment Simplified
Search
  • Tax
    • Popular Searches
    • What is Form 16?
    • Trademark Registration Fees
    • TDS Full Form
    • Ad Valorem Tax
    • How to Save Tax?
  • Aadhaar
    • Popular Searches
    • How to Book Aadhaar Card Appointment?
    • E-Aadhaar And It’s Benefits
    • What is a Masked Aadhaar?
    • ESign Aadhaar: A Complete Guide
    • Aadhaar Card Address Change
  • EPF
    • Popular Searches
    • EPFO Member Portal – Login, Registration
    • EPFO Establishment Search
    • Guide to Your EPFO Member Login
    • EPF Interest Rate
    • What Is UAN Activation?
  • PAN Card
    • Popular Searches
    • What is a PAN Card
    • NSDL PAN Card
    • UTI PAN
    • e-PAN Card
    • PAN Card Apply
  • Banking
    • Banks
      • Popular Searches
      • State Bank of India (SBI)
      • Bank of Baroda (BOB)
      • Canara Bank
      • Indian Bank
      • Bank of India (BOI)
    • Bank Timings
      • Popular Searches
      • Bank of Baroda Timings
      • IDBI Bank Timings
      • Union Bank Timings
      • Karnataka Bank Timings
      • Central Bank of India Timings
      • Canara Bank Timings
    • Mini Statement
      • Popular Searches
      • Axis Bank Mini Statement
      • HDFC Mini Statement
      • Bank of Baroda Mini Statement
      • Union Bank of India Mini Statement
      • SBI Mini Statement
    • Balance Enquiry
      • Popular Searches
      • Canara Bank Balance Enquiry by SMS, Missed Call, Netbanking
      • SBI Balance Enquiry
      • Union Bank of India Balance Enquiry Number
      • BOB Balance Enquiry
      • PNB Balance Check Number – Enquiry by SMS, Missed Call, Netbanking
    • NEFT
      • Popular Searches
      • HDFC NEFT
      • SBI NEFT
      • Axis Bank NEFT
      • ICICI Bank NEFT
      • Canara Bank NEFT
    • Net Banking
      • Popular Searches
      • HDFC Bank Net Banking
      • SBI Net Banking
      • ICICI Net Banking
      • Axis Bank Net Banking
      • IOB Net Banking
    • Customer Care
      • Popular Searches
      • Central Bank of India Customer Care Number
      • Bank of Baroda Customer Care – Missed Call and Toll Free Number
      • Bank of Maharashtra Customer Care
      • Punjab National Bank Customer Care Number – PNB Grievance Redressal
      • IOB Customer Care Number
    • UPI
      • Popular Searches
      • BHIM
      • Google Pay
      • BHIM SBI Pay
      • Union Bank UPI
      • HDFC UPI
    • Debit Card
      • Popular Searches
      • SBI Debit Card
      • HDFC Debit Card
      • PNB Debit Card
      • Axis Bank Debit Card
      • Kotak Debit Card
    • RTGS
      • Popular Searches
      • RTGS Process
      • SBI RTGS
      • ICICI Bank RTGS Form
      • Axis Bank RTGS Form
      • HDFC RTGS Form
    • IMPS
      • Popular Searches
      • IMPS Limit
      • IMPS vs. NEFT
      • IMPS vs. NEFT vs. RTGS
      • MMID
    • Cheque
      • Popular Searches
      • Types of Cheques
      • Blank Cheque
      • Cancelled Cheque – How to Write a Cancelled Cheque?
      • Account Payee Cheque
      • Banker’s Cheque
    • Bank Holidays
      • Popular Searches
      • Bank Holidays in June 2023
      • Bank Holidays in July 2023
      • Bank Holidays in August 2023
      • Bank Holidays in September 2023
      • Bank Holidays in October 2023
    • Mobile Banking
      • Popular Searches
      • SBI Mobile Banking
      • HDFC Mobile Banking
      • Bank of Baroda Mobile Banking
      • Indian Bank Mobile Banking
      • Canara Bank Mobile Banking
    • Passbook
      • Popular Searches
      • SBI Passbook
      • Union Bank Passbook
      • BOB Passbook
      • HDFC Passbook
      • Axis Bank Passbook
    • Demand Draft
      • Popular Searches
      • Demand Draft Validity
      • Demand Draft Form
  • Savings Account
    • Popular Searches
    • What is a savings account
    • SBI Savings Account
    • Bank of Baroda Saving Account
    • Bank of Maharashtra Saving Account
    • Central Bank of India Saving Account
  • Insurance
    • General Insurance
    • Car Insurance
    • Travel Insurance
    • Pension & Retirement
  • About Us
  • Contact
Investment Simplified > Banking > IMPS Limit
Banking

IMPS Limit

Monika Mohan
Last updated: 2023/05/23 at 2:36 PM
Monika Mohan Published November 30, 2022 5 Min Read
Share
SHARE
What is the IMPS limit per day?IMPS Timings IMPS ChargesWho Regulates IMPS?How is IMPS different than NEFT & RTGS?IMPS Limit: FAQs

IMPS or Immediate Payment Service is an online system of interbank fund transfers. But what is the IMPS limit per day? Can you make limitless transfers via IMPS? Let’s find out.

What is the IMPS limit per day?

Although IMPS is regulated by NPCI which is basically a sub-division of RBI, the apex bank has not set a one-for-all IMPS limit per day for all the banks. However, it has given a bracket of Re 1 to Rs 5 lakhs within which banks can choose the IMPS limit per day for their customers.

Did You Know?
You can use IMPS service to send money even if you don’t have a bank account using the Pre-Paid Payments instrument issuer (PPI) services.

Below-mentioned are the IMPS limits per day decided by some of the top banks in India:

  • SBI IMPS limit: Rs 5 lakhs
  • HDFC IMPS limit: Rs 5,000 (via netbanking/mobile banking); Rs 5 lakhs (via MMID); Rs 1,000 (via USSD)
  • ICICI Bank IMPS limit: Rs 2 lakhs
what is the imps limit per day?
  • PNB IMPS limit: Rs 5 lakhs
  • Axis Bank IMPS limit: Rs 5 lakhs
  • YES Bank IMPS limit: Rs 2 lakhs

While each bank has the option to set its own IMPS limit per day, it also has the liberty to decide the corresponding IMPS charges.

Word to Remember

MMID: Mobile Money Identifier, a 7-digit number issued by banks and linked to one’s mobile number and bank account number. It is used for mobile banking transfers.

IMPS Timings

IMPS can easily be done online 24×7 via netbanking and mobile banking alike. There are no time limitations per say for initiating an IMPS transaction.

Some banks also allow IMPS at the branch. For this, we suggest you check the bank timings of your specific bank beforehand.

Details about imps

IMPS Charges

The charges for using IMPS in India vary from bank to bank, and also depend on the amount being transferred.

Here are some general guidelines for IMPS charges in India:

  1. Most banks charge a nominal fee for IMPS transactions. The fees can range from Rs. 1 to Rs. 25 per transaction.
  2. Some banks offer free IMPS transactions up to a certain limit, beyond which charges are applicable. For example, some banks offer up to five free transactions per month, and then charge a fee for each subsequent transaction.
  3. The charges for IMPS transactions also depend on the amount being transferred. For example, some banks charge a higher fee for transferring larger amounts.
  4. Some banks offer special pricing plans for corporate customers or high-volume users, which can include discounted or waived fees.

It’s important to check with your bank for their specific charges and pricing plans for IMPS transactions. Additionally, it’s worth noting that some third-party payment apps or services may also charge additional fees for using IMPS.

Who Regulates IMPS?

IMPS, an instant payment system, is regulated by NPCI or National Payments Corporation of India. NPCI is a sub-division of RBI, the apex banking body in India. All decisions regarding IMPS, like its limit per day, charges and timings etc. are taken by NPCI.

How is IMPS different than NEFT & RTGS?

When talking of difference between IMPS and NEFT, there is one distinct feature that separates the two – the settlement time. While transfer requests via IMPS are taken up immediately and thus the beneficiary’s account gets credited instantly, in the case of an NEFT payment, it takes around 30 minutes to 4 hours.

And now if talk of IMPS vs RTGS, the differentiating factor would be the transfer limit. You can use IMPS for transferring an amount of Re 1 to Rs 5 lakhs in a day. But with RTGS, it has to be a transfer of Rs 2 lakhs minimum. However, there is no upper limit in RTGS payments.

Visit the following links to know more about IMPS:

IMPSIMPS vs. NEFT
MMIDIMPS vs. NEFT vs. RTGS

Also, check all related details about the IMPS:

ICICI IMPS LimitSBI IMPSIndian Bank IMPS Charges
HDFC Bank IMPSHDFC IMPS ChargesPNB IMPS Charges
IMPS Full FormIMPS ChargesSBI IMPS Charges
MMIDIMPS Charges ICICI BankBank of Baroda IMPS Limit
SBI IMPS LimitSBI IMPS TimingsHDFC IMPS Limit
IMPS Timings

IMPS Limit: FAQs

What is the IMPS full form?

IMPS full form is Immediate Payment System.

What is the SBI IMPS limit per day?

For customer having an SBI bank account, the bank has maintained the IMPS limit of Rs 5 lakhs per day, the same as provided by the NPCI.

What is the minimum IMPS limit?

You can transfer an amount as little as Re 1 using the IMPS mode.

What is the maximum amount that can be transferred via IMPS?

The maximum IMPS limit is Rs 5 lakhs per day.

What is NPCI?

NPCI is the sub-division of RBI which regulated IMPS payments.

What is the full form of NPCI?

NPCI full form is National Payments Corporation of India.

Share This Article
Facebook Twitter Whatsapp Whatsapp Email Copy Link Print
By Monika Mohan
Monika Mohan is a writing enthusiast who has luckily turned her passion into profession. For the greens, she has an established foot in the personal finance sector and likes to put forth complex topics in an easy-to-understand manner, minus the jargons. Outside the penny lane, it’s all about poetry, mountains and single-malts.
Previous Article ICICI Bank RTGS Form ICICI Bank RTGS Form
Next Article MMID MMID: Full Form, Features
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Searches
  • SBi mini statement number
  • SBI Bank Timings
  • mini statement
  • axis bank mini statement
  • axis bank timing
  • canara bank timing
  • HDFC bank timings
  • HDFC Mini Statement
  • Bank of Baroda Timings
  • Bank of Baroda Mini Statement
  • Union Bank of India Mini Satement
  • Union Bank Timings
  • Canara Bank Timings
  • PNB Mini Statement
  • IDBI Mini Statement
  • Indian Bank Mini Statement Number
  • Indian Bank Timings
  • ICICI Bank Mini Statement Number
  • ICICI Bank Timings

Social Media

Social Media
Facebook
YouTube
Instagram
Twitter
Linkedin

Recent Post

Top Financial Influencers
Top 15 Financial Influencers in India
Investment
Cheque
What is a Cheque – Types, Components, Uses, Advantages
Banking
IDFC Debit Card
IDFC Debit Card
Banking
Federal Bank Debit Card
Federal Bank Debit Card
Banking

You Might also Like

provident fund

Employer Contribution to PF in Simple Steps

The EPF Scheme was launched keeping in mind the benefit of the…

Read More
UPI Transaction Limit

UPI Transaction Limit 2023

There are certain daily and monthly limits to how much one can…

Read More
National Electronic Funds Transfer

NEFT – National Electronic Funds Transfer

An electronic fund transfer system controlled by the apex body of RBI,…

Read More
Bank of India Passbook

Bank of India Passbook

Bank of India is a leading banking and financial services company that…

Read More
IS logo 250px

We are here to make your investment journey simple by delivering content on financial topics in plain English.

Categories

  • Tax
  • Cryptocurrency
  • Aadhaar
  • Mutual Funds
  • Banking
  • General Insurance
  • Pension & Retirement
  • Car Insurance
  • Travel Insurance

Quick Link

  • About Us
  • Contact
  • Terms & Conditions
  • Privacy Policy
Social Media
Facebook
YouTube
Instagram
Twitter
Linkedin

We are here to make your investment journey simple by delivering content on financial topics in plain English.

Categories

  • Tax
  • Cryptocurrency
  • Aadhar
  • Mutual Funds
  • General Insurance
  • Pension & Retirement
  • Car Insurance
  • Travel Insurance

Quick Link

  • About Us
  • Contact
  • Terms & Conditions
  • Privacy Policy

Social Media

Copyright © 2023 Investment Simplified. All rights reserved.

Welcome Back!

Sign in to your account

Lost your password?