What is the difference between IMPS, NEFT & RTGS?

Using a credit card is a convenient and easy way to buy things that you might require, especially if they are expensive. However, even as credit cards make payments easier, it is important to remember to make timely credit card payments.

While there are several ways by which you can make credit card payments, read on to learn about the three best ways to make credit card payments easily and conveniently.


IMPS full form is Immediate Mobile Payment Services. Managed by the National Payment Corporation of India, IMPS offers 24*7 services for interbank funds transfer. IMPS services can be availed for making payments anytime through the year, including on bank holidays which include weekends and other national holidays.


RTGS full form is Real-Time Gross Settlement (RTGS), which is usually used for making large transactions that need to be cleared immediately. True to its name, RTGS offers real-time settlement of gross values.


NEFT full form is National Electronic Funds Transfer (NEFT). This payment method facilitates interbank transfers in a one-to-one fashion, but not in real-time. These transfers do not happen in real-time and usually occur in 23 half-hourly batches over the course of a day.


While all three methods mentioned above are extremely convenient and useful not just for transferring funds to others, but also for making credit card payments. However, while the main purpose of all three is the same, there are certain differences between them. Read on to learn about these differences and identify the one that is best aligned to your requirements.

Comparison Category NEFT RTGS IMPS
Type of Settlement Half hourly batches In real-time In real-time
Minimum Fund Transfer Limit Re. 1 Rs. 2 lakhs Re. 1
Maximum Fund Transfer Limit No limit, but limit set at Rs. 50,000 per transaction cash-based remittances within India and Nepal None Rs. 2 lakh
Availability 365 days 24*7 365 days 24*7 365 days 24*7
Charges for Transaction No charges on inward transactions, which refers to destination bank branches where the amount is being credited to beneficiary accounts No charges on inward or online transactions

If funds between Rs. 2 to 5 lakhs are to be transferred, up to Rs. 25 will be charged

If funds more than Rs. 5 lakhs to be transferred, up to Rs. 50 to be charged

Additional GST charges to be levied
Charges for IMPS transaction are decided by the respective banks and Prepaid Payment Instruments (PPIs), inclusive of taxes.
Payment Options Both online and offline modes available Both online and offline modes available Only online mode available


As per the above table, it is evident that the payment mode you choose depends on your individual requirements, such as how soon you need the payment to be credited, the amount that you are looking to transfer, etc.

Since RTGS has a minimum fund transfer limit of Rs. 2 lakhs, you will be forced to opt for the other methods if your transfer amount is lesser than that. Regardless of the method you choose, remember to always make credit card payments on time to continue using them efficiently and effectively.

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