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What is the difference between NEFT, RTGS and IMPS?
Updated · CardKhoj Editorial Team
Short answer
All three move money between bank accounts and work 24×7. IMPS is instant and suits payments up to ₹5 lakh. NEFT settles in half-hourly batches with no minimum or maximum set by RBI. RTGS is real-time and meant for large transfers of ₹2 lakh or more. Online NEFT and RTGS are free for savings account customers.
Comparison
| IMPS | NEFT | RTGS | UPI | |
|---|---|---|---|---|
| Speed | Instant | Half-hourly batches | Real-time | Instant |
| Minimum | ₹1 | ₹1 | ₹2 lakh | ₹1 |
| Maximum | ₹5 lakh | No RBI limit (bank limits apply) | No RBI limit | Usually ₹1 lakh |
| Availability | 24×7 | 24×7 | 24×7 | 24×7 |
| Charges (online) | Small fee at some banks | Free | Free | Free |
Which to use
- Everyday payments: UPI.
- Urgent payments up to ₹5 lakh: IMPS.
- Large amounts: RTGS (or NEFT if not urgent).
This answer is general information, not personalised financial or tax advice. Rules, rates and limits change — confirm with your bank, the RBI or a qualified adviser before making decisions.