IMPS vs NEFT vs RTGS: what's the difference?
IMPS sends money instantly, one transaction at a time, 24×7. NEFT settles in half-hourly batches, 24×7. RTGS settles high-value payments individually and in real time, with a ₹2 lakh minimum. All three move money between bank accounts in India. They differ in speed, settlement method and ticket size.
IMPS turant paisa bhejta hai (instant, 24×7). NEFT batch mein settle hota hai, har aadhe ghante. RTGS bade amount ke liye hai: minimum ₹2 lakh, real-time settlement. Chhota aur urgent transfer ho to IMPS, badi payment ho to RTGS, aur jaldi na ho to NEFT.
Side-by-side
| IMPS | NEFT | RTGS | |
|---|---|---|---|
| Operated by | NPCI | RBI | RBI |
| Settlement | Instant, per transaction (inter-bank settlement in cycles) | Deferred net settlement in half-hourly batches | Gross, real-time, one by one |
| Availability | 24×7 | 24×7 (since Dec 2019) | 24×7 (since Dec 2020) |
| Minimum | No minimum | No minimum | ₹2 lakh |
| Best for | Urgent, small-to-mid transfers, payouts | Routine transfers, salaries | High-value, time-critical payments |
Maximum amounts and charges are set by each bank and change over time, so check your bank's current schedule.
How IMPS works
IMPS (Immediate Payment Service) routes each transfer through NPCI's central switch. The remitting bank debits the sender, and NPCI passes the request to the beneficiary bank, which credits the account within seconds. It works with account number and IFSC, mobile number and MMID, or Aadhaar. The account-to-account flavour is what fintechs and lenders use for instant payouts and loan disbursals. It runs on the same NPCI switch model as UPI. See IMPS response codes for why transfers fail.
How NEFT and RTGS work
Both run on RBI's own systems. NEFT (National Electronic Funds Transfer) collects transfers and settles them in batches through the day, so money usually arrives within the next batch. RTGS (Real Time Gross Settlement) settles every payment individually and immediately on RBI's books. Because each payment settles on its own, RTGS is the rail for large, time-critical amounts.
Which should a business use?
For instant customer payouts, refunds and loan disbursals, IMPS is the default: it is instant, runs all the time and has no minimum. For bulk scheduled payments, NEFT is fine. For very large treasury or vendor payments, use RTGS. Platforms that move money for others usually connect to IMPS through a sponsor bank or an IMPS switch.
Common questions
Which is faster, IMPS or NEFT?
IMPS. It credits the beneficiary within seconds, while NEFT settles in half-hourly batches.
What is the minimum amount for RTGS?
₹2 lakh. There is no minimum for IMPS or NEFT.
Do IMPS, NEFT and RTGS work on Sundays and holidays?
Yes. NEFT and RTGS became 24×7 in December 2019 and December 2020 respectively, and IMPS has always run 24×7.
IMPS NEFT RTGS kya hai?
Teeno bank-to-bank transfer ke tareeke hain. IMPS instant hai, NEFT batch mein settle hota hai, aur RTGS bade amount (₹2 lakh se upar) ke liye real-time hai.
Related
ZyroAI products for this: IMPS Stack · UPI Stack.
Written by the ZyroAI team for people building in Indian BFSI. Regulatory rules change, so for binding requirements check the current RBI, NPCI, UIDAI or relevant regulator circular. Last updated 2026-09-24.