Difference between NEFT, RTGS and IMPS

NEFT, RTGS and IMPS which stands for National Electronic Funds Transfer, Real Time Gross Settlement and Immediate Payment Service respectively, are all used to transfer money from one bank account to different bank account.

RTGS is processed comparatively faster than NEFT as RTGS payments are processed on Real time basic while NEFT payments are processed batch wise.

All payments done via NEFT is processed hourly while RTGS is processed immediately and that’s one of the reason to prefer RTGS for amount above 2 lakhs.

And above all, IMPS is used to transfer the payment immediately. It works 24x7 even on holidays. Everyone can use these facilities to transfer money using internet banking or mobile banking.

Before doing the money transfer using any of these facilities, make sure the beneficiary bank branch is NEFT/ RTGS/IMPS enable.

NEFT payments are processed within 2 hours if the transaction is initiated during business hours which is, between morning 8am to evening 7pm on all week days and 8am to 1pm on Saturdays. If payment is initiated after business hours then it will be processed in next working day.

On the other hand, RTGS payments are processed and credited within 30 minutes to the beneficiary if the transaction is carried out from 8am to 4pm i.e. during business hours. RTGS facility is not available after banking hours including 2nd and 4th Saturdays, Sundays and Public holidays.

In case of IMPS, there is no time boundation because it is processed immediately.

NEFT is mostly used to transfer small amount of money because there is a limit cap of Minimum 2,00,000 rupees for RTGS payments but there is no upper limit for both. You can use NEFT for large transactions also but RTGS will process the transaction quickly.

If it is urgent, use IMPS facility as it transfers the money almost instantly. But if is not urgent and amount is less then use NEFT else use RTGS if you planning to transfer the money above Rs 2,00,000. All because there are different charges for each of these services and if you’re comfortable paying high charges then use IMPS.

Payment Transfer Limit


Minimum Amount

Maximum Amount


No Minimum Limit i.e. Rs. 1

No Upper Limit


Minimum Limit of Rs 2,00,000

No Upper Limit


Rs 1

Rs 2,00,000 per day
(Depends on Bank)


Bank Charges for NEFT Payments

If you have received the payment through NEFT, you don’t have to pay any charges. It’s free for recipients but if you are sending money to someone else then you have the pay the bank charges which is mentioned below.

  • Rs 1 to Rs 10,000 : Rs 2.50 (+ Service Tax)

  • Rs 10001 to Rs 1 Lakh : Rs 5 (+ Service Tax)

  • Rs 1 Lakh and one rupee to Rs 2 Lakh : Rs 15 (+ Service Tax)

  • Rs 2,00,00+ : Rs 25 (+ Service Tax)

Bank Charges for RTGS Payments

If you are going to receive payments via RTGS then you don’t have to pay any bank charges, it’s free. But if you are transferring money to another account then you have to pay the bank charges as mentioned below.

  • Bank Transfer between Rs 2,00,000  to Rs 5,00,000 : Rs 30 per transaction

  • Bank Transfer of 5,00,001 and above : Rs 55 per transaction

Bank charges for IMPS Payments

Different banks are charging different amount for IMPS. Visit your bank website to check IMPS charges. It should be around Rs 5 to Rs 15 per transaction depending on the amount.

Note: Not all banks are deducting these transaction charge from their customers account. Few banks are offering these facilities for free.

Before Making the transfer

  1. Make sure the user’s bank branch in which you will be depositing the money online is RTGS / NEFT / IMPS compatible else transfer will not be successful.

  2. Make sure you have entered corrected Account number and IFSC code before proceeding for the Bank transfer.

Contact Details


General Manager
Reserve Bank of India
National Clearing Centre,
1st Floor, Mumbai Regional Office, Fort
Mumbai 400001
Email: nefthelpdeskncc@rbi.org.in


The Chief General Manager
Reserve Bank of India
Customer Service Department
1st Floor, Amar Building, Fort
Mumbai – 400 001
Email: cgmcsd@rbi.org.in


National Payments Corporation of India
1001A, B wing, 10th Floor,
The Capital, Bandra-Kurla Complex,
Bandra (East), Mumbai - 400 051
Phone – 022 – 4000 9100


NEFT money transfer returned by beneficiary's bank ANY OTHER REASONS

One day we did a transfer of Rs 5000 to a bank account via NEFT but after 1 hours we got a message that the transfer amount is returned by beneficiary bank. Generally it was due to some technical failure from the bank side. Amount was credited back to our account. If that is the case with you then is no need to worry, just resend the amount once again and it will work fine now. Before sending again, just check your account balance to make sure that your money is back in your account.

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