IMPS Time

IMPS Timings

✓ Fast Processing ✓ Great Discounts & Offers ✓ Easy EMI Facility | Apply for Credit Card now!

IMPS Transfer Timings

IMPS is an immediate payment service that allows you to transfer funds within banks any day of the year. It is the quickest inter-bank payment service. This access is facilitated using multiple channels like IFSC, SMS, ATM, and mobile number. IMPS timings are 24*7 on all days of the year. However, individual banks may place some restrictions on IMPS fund transfer time or reduce the limit of the amount transferred. Similarly, Rs.2 Lakhs is the general limit of transaction amount per day and charges are mostly free, but some banks have a higher limit and charges differ according to banks. It is important to understand the IMPS Transaction timings if you choose this method for your debit card or credit card payment online.

Various Limits on IMPS transfer time

IMPS time limit differs with different banks. While IMPS payment transfer time is the quickest mode of transfer we have as of now. Banks have placed certain limitations to ensure safe and secure transactions. The limitation is either imposed on IMPS timings by reducing the number of hours IMPS could be used. For example, some banks impose restrictions to use IMPS only between 8 AM and 8 PM. While other types of restrictions are imposed by reducing the amount that could be transferred after the regular hours. For example, SBI allows you to transfer up to Rs. 2 Lakhs between 8 AM to 8 PM but allows you to transfer up to only Rs. 40,000 from 8 PM to 8 AM. So, you need to check with your bank to be aware of their IMPS time limit, service charges, and IMPS transaction limit.

IMPS Transfer Timings for Different Banks

IMPS transfer timings of each bank differ slightly based on individual banks' rules, regulations, and management. Here is a list of banks and their IMPS Payment details like IMPS transfer times, charges, and IMPS transaction limits.

Axis Bank IMPS Timings

Axis provides 24*7 IMPS transactions without any restrictions placed on timings. The transaction limit for one day is Rs. 2lakhs. For a transaction of up to Rs. 1000, there is a charge of Rs. 2.50. For a transaction from Rs. 1000 to Rs. 1lakh, Rs.5 is charged. Similarly, a charge of Rs.15 is made on transactions above Rs. 1 Lakh to Rs.2 Lakhs.

Additionally, you can add only one beneficiary per day. It will be activated within four hours between 6 AM to 8 PM. In case you add the beneficiary only after 8 PM, then it will be activated after 8 AM the next day.

RBL Bank IMPS Timings

RBL also provides IMPS transaction services at all hours of the day. It is available on weekends and holidays as well. Its transaction limit is ₹3lakhs per day and it charges no amount on transactions, it is completely free.

However, you can add only one beneficiary per day. It will be activated within four hours between 6 AM to 8 PM. In case you add the beneficiary only after 8 PM, then it will be activated after 8 AM the next day.

SBI Bank IMPS Timings

SBI IMPS timings vary with the amount to be transferred. You can send or receive money 24*7 through the SBI IMPS facility. But there are some restrictions to it. As an SBI account holder, you can transfer up to ₹2,00,000 between 8 AM to 8 PM on any day. However, you can transfer only up to ₹40,000 between 8 PM to 8 AM.

For a transaction of up to ₹1000, there are no charges. For a transaction from ₹1001 to ₹10,000, the bank charges 1 rupee plus GST. ₹2 plus GST is charged for transactions from ₹10,001 to ₹1lakh. Similarly, a charge of 3 rupees plus GST is made on transactions from ₹1,00,001 to ₹2lakhs.

Additionally, you can add only one beneficiary per day. It will be activated within four hours between 6 AM to 8 PM. In case you add the beneficiary only after 8 PM, then it will be activated after 8 AM the next day.

Citi Bank IMPS Timings

Citi bank provides round-the-clock IMPS transaction service, it can be accessed all days of the year. Its transaction limit is ₹2lakhs per day and it charges no amount on transactions, it is completely free.

However, you can add only one beneficiary per day. It will be activated within four hours between 6 AM to 8 PM. In case you add the beneficiary only after 8 PM, then it will be activated after 8 AM the next day.

HDFC Bank IMPS Timings

HDFC provides 24*7 IMPS facilities the whole year. HDFC charges are applicable only for outward IMPS transactions. There are no charges for inward IMPS transactions. Its transaction limit is ₹2lakhs. The charges as in effect from 1st October 2020 are ₹3.50 plus GST on transactions up to ₹10,000. For transactions from ₹1,001 to ₹1lakh, the charge is ₹5 plus GST and ₹15 plus GST is charged for transactions above ₹1lakh.

However, you can add only one beneficiary per day. It will be activated within four hours between 6 AM to 8 PM. In case you add the beneficiary only after 8 PM, then it will be activated after 8 AM the next day

FAQs

  • ✔️Is there a time limit on IMPS transfer?

    In general, there is no time limit as such. However, certain banks impose certain IMPS time limits to reduce fraudulent activities. Either they reduce the IMPS fund transfer time to 12 hours a day or reduce the amount that could be transferred during the night. The time limit depends on individual banks. 

  • ✔️How much time does it take to transfer money using IMPS?

    IMPS payment transfer time is only a few seconds. 

  • ✔️How much time does it take to transfer money using IMPS on a Sunday?

    The transaction takes only a few seconds to be completed on any day of the year, it is the same on Sundays as well as on any other holidays. Thus, the IMPS clearing time of the transaction is just seconds even on Sundays.  

  • ✔️What if my IMPS transaction fails?

    When an IMPS transaction fails or times out, do not panic. Check your bank account to see if the money has been debited. If it is not, then do the transaction after some time. If it is debited, wait for a minimum of two working days. The money will either be credited back to your account or will be credited to the beneficiary’s account. If not, contact your bank’s customer care and they will assist you.