Immediate Payment Service, or IMPS, refers to the fund transfer system operated and managed by the National Payments Corporation of India (NPCI). This system allows 24/7 electronic fund transfers from one account to another, including on bank holidays.
The IMPS fund transfer process is reliable and ensures safety and security. However, ensure that you transfer funds within the prescribed limit. The IMPS limit depends on the respective bank’s policy, and it can go up to ₹5 Lakhs.
Continue reading to get further information about the various types of IMPS transfer limits fixed by top banks.
Before delving into the IMPS transaction limit, it is essential to familiarise yourself with different types of applicable limits. Here are some of them.
1. IMPS Minimum Limit
The IMPS minimum limit is the lowest amount of fund transfer allowed per transaction. Since there is no set minimum IMPS limit, you can make any transfer of any amount starting from ₹1.
2. IMPS Maximum Limit
This is the maximum amount you are allowed to transfer through IMPS from multiple channels, such as mobile banking, net banking, etc., collectively. This IMPS limit varies depending on your bank, and you cannot exceed this daily transfer limit.
3. IMPS Limit Per Day
This IMPS limit refers to the amount that you can transfer in a day via the IMPS fund transfer service. Your bank sets the maximum limit of IMPS transfers. Previously, the maximum IMPS limit per day was ₹2 Lakhs which is now updated to ₹5 Lakhs by the RBI.
Here are the IMPS limits applicable to every fund transfer.
IMPS Limit |
Amount |
IMPS minimum limit |
Not less than ₹1 |
IMPS maximum limit |
Within the daily limit as fixed by the respective bank |
IMPS limit per day |
Up to ₹5 Lakhs from all channels collectively |
Transfer timing |
24/7, 365 days |
As per the set guidelines, there is no minimum limit on IMPS transfers. However, there is a maximum transfer limit via IMPS that varies from one bank to another. Here are the IMPS transfer limits of some leading banks.
1. HDFC Bank IMPS Fund Transfer Limit
IMPS Money Transfer Limit Using Account Number and IFSC Code:
IMPS upper limit (per transaction) |
₹5 Lakhs |
IMPS transfer limit (per day) |
As per the set Third-Party Transfer (TPT) limits |
IMPS Money Transfer Limit Using MMID (Mobile Money Identifier) Code:
Maximum limit on IMPS transfer through net banking |
₹5,000 per day per Customer ID |
IMPS amount transfer limit for mobile banking |
₹5,000 per day per Customer ID |
Note: Limit of ₹5,000 applies on transactions from individual channels.
IMPS Payment Limit Using USSD (Unstructured Supplementary Service Data) Code:
Maximum limit for fund transfer using MMID |
₹1,000 |
Maximum limit for fund transfer using Account number |
₹1,000 |
2. Axis Bank IMPS Transaction Limit
IMPS maximum limit (per transaction) |
₹5 Lakhs |
IMPS limit (per day) |
As per the set Third-Party Transfer (TPT) limit |
3. ICICI Bank IMPS Limit
Minimum Limit (iMobile) |
Account number + IFSC |
₹1 |
Mobile number + MMID |
₹1 |
|
Minimum Limit (Internet Banking) |
Account number + IFSC |
₹1 |
Mobile number + MMID |
₹1 |
|
Maximum Limit (iMobile) |
Account Number + IFSC |
₹2 Lakhs |
Mobile number + MMID |
₹10,000 |
|
Maximum Limit (Internet Banking) |
Account Number + IFSC |
₹2 Lakhs |
Mobile number + MMID |
₹10,000 |
4. SBI IMPS Limit
Maximum Limit |
₹5 Lakhs |
5. RBL Bank IMPS Limit
Maximum IMPS Limit |
₹2 Lakhs |
Before initiating an IMPS fund transfer, checking the transfer limits set by your bank is prudent. Additionally, you must familiarise yourself with all essential steps to ensure a smooth and successful fund transfer through the IMPS system.
In addition to IMPS, you have the option to use NEFT or RTGS to transfer money from one bank account to another. The RTGS transfer limit and RTGS fees and charges may be different from that of IMPS.
The same holds good in the case of NEFT transfer limit and NEFT fees. You can check out the difference between IMPS vs NEFT vs RTGS and select the fund transfer mode that suits you best!
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FAQs on IMPS Limit
Is there a limit on IMPS transfers?
While there is no IMPS minimum limit, the maximum limit varies from one bank to another. However, this limit cannot exceed ₹5 Lakhs, as determined by the RBI. You can check the limit of a specific bank before initiating any transaction.
How many IMPS transactions can be done in a day?
You can do as many IMPS transactions as you like as long as you do not exceed your set Third-Party Transfer (TPT) limit.
What is the maximum limit of IMPS transfer?
The IMPS maximum limit varies from one bank to another. All banks have the maximum IMPS limit capped at ₹5 Lakhs per day, as fixed by the RBI.
What is the timing for IMPS transactions?
You can initiate fund transfers 24x7 throughout the year, including bank holidays, within your daily transfer IMPS limit. However, some banks may implement designated hours of transfer for security reasons.
