- Advertisement -
HomePersonal FinanceIMPS Charges: Charges for IMPS money transfer September 2024: SBI vs HDFC...

IMPS Charges: Charges for IMPS money transfer September 2024: SBI vs HDFC vs ICICI vs Canara Bank

- Advertisement -
- Advertisement -

IMPS Charges: IMPS (Immediate Payment Service) is a real-time money transfer service that is available 24/7. This service can be accessed through multiple channels including mobile, internet, branch, ATM and SMS

IMPS Charges: IMPS (Immediate Payment Service) is a real-time money transfer service, which is available 24/7. This service can be accessed through multiple channels including mobile, internet, branch, ATM and SMS. This is a service through which funds can be transferred quickly and securely between banks in India. It is also quite economical.

There is also two-factor authentication when transferring money through IMPS. There is also a limit if IMPS is used for fund transfer. Customers do not need to register for mobile banking when initiating an IMPS transaction through ATM or online channel. Similarly, customers also do not need to register for withdrawing money through mobile banking or account number/IFSC.

Also Read- SBI vs HDFC Bank FD Rates Comparison: Which of the two banks is giving the highest interest on FD, check details

Let us know what are the charges of banks for IMPS money transfer

SBI IMPS Charges:

There is no charge for transactions from ₹1 to ₹5,00,000.

HDFC Bank IMPS Charges:

₹0 – ₹1000: ₹3.50 + applicable GST
₹1001 – ₹100000: ₹5 + applicable GST
Above ₹100000: ₹15 + applicable GST

Axis Bank IMPS Charges:

Up to ₹1000: ₹2.50 per transaction
₹1,000 to ₹1,00,000: ₹5 per transaction
₹1,00,000 to ₹5,00,000: ₹10 per transaction
Additional taxes are applicable.

Canara Bank IMPS Charges:

  • ₹0 to ₹25,000: No charges
  • ₹25,001 to ₹100,000: ₹8 + GST
  • ₹100,001 to ₹500,000: ₹15 + GST
  • ₹10,000 to ₹1 lakh: ₹475
  • ₹1 lakh to ₹50 lakh: ₹500

Kotak Mahindra Bank IMPS Charges:

No charge

YES Bank IMPS Charges:

There are no charges for transactions made through the mobile app.

A charge of ₹5 + GST ​​is applicable for using IMPS through Net Banking.

IMPS is a convenient and safe option that provides instant money transfer service. However, it is important to be aware of the charges and rules applicable while making the transaction.

Related Articles:-

SSY Calculator: How much money you will get on maturity if you invest ₹50,000 every year – see calculation

PPF Calculator: How much will you get if you deposit 1.5 lakh in 15 year? know here

How to become Crorepati in 15 years, follow new mutual fund SIP formula

Deepak Kumar
Deepak Kumar
Deepak Kumar has 2 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @deepakmaurya152004@gmail.com
RELATED ARTICLES

Most Popular

Recent Comments