India has four ways to move money between bank accounts — NEFT, RTGS, IMPS and UPI — and most people are not sure which one to pick. The honest answer: for everyday payments, UPI wins; for a one-off transfer of several lakhs, RTGS is built for it; and IMPS and NEFT sit usefully in between. This guide gives you the exact limits, charges and timings (updated for 2026), then a simple rule for choosing in under five seconds.
Quick comparison (2026)
| Feature | NEFT | RTGS | IMPS | UPI |
|---|---|---|---|---|
| Minimum amount | ₹1 | ₹2 lakh | ₹1 | ₹1 |
| Maximum amount | No RBI limit | No RBI limit | ₹5 lakh* | ₹1 lakh** |
| Speed | Minutes (batched) | Real-time | Instant | Instant |
| Availability | 24×7 | 24×7 | 24×7 | 24×7 |
| Online charges | Free | Free | ₹2.50–15 | Free |
| Needs IFSC? | Yes | Yes | Yes | No |
| Regulated by | RBI | RBI | NPCI | NPCI |
*IMPS maximum is set by your bank, up to ₹5 lakh. **UPI is ₹1 lakh/day for most payments; NPCI allows up to ₹5 lakh per transaction (and ₹10 lakh/day) for verified merchants in categories like capital markets, insurance, education and healthcare. Always check your own bank's app for the exact cap.
The 5-second rule for choosing
- Paying a person or shop, small amount? → UPI. Instant, free, no IFSC needed.
- Sending up to ₹5 lakh and need it to land right now? → IMPS.
- Sending ₹2 lakh or more in one go? → RTGS. Real-time and free online.
- Large but not urgent, or a scheduled/recurring transfer? → NEFT. Free, no upper limit.
NEFT — free, no upper limit, slightly slower
Best for: salary runs, vendor payments and any large transfer that does not need to settle in the same second.
NEFT (National Electronic Funds Transfer) is run by the RBI and now operates 24×7, including holidays. Unlike the others, it settles in batches rather than instantly, so funds typically reach the beneficiary within a few minutes to a couple of hours. There is no maximum limit and the minimum is just ₹1. Online NEFT is free — the RBI waived charges for transfers initiated via net banking or a mobile app; only branch transfers may carry a small fee (around ₹2.50–₹25 plus GST).
RTGS — built for high-value, real-time transfers
Best for: property payments, large business settlements — anything ₹2 lakh and above that must move immediately.
RTGS (Real-Time Gross Settlement) is also an RBI system and, as the name says, settles each transaction individually and in real time. Its defining feature is the ₹2 lakh minimum — it is not meant for small payments. There is no RBI-imposed maximum, and like NEFT it is free online and available 24×7.
IMPS — instant, any time, up to ₹5 lakh
Best for: urgent transfers that are too large for a single UPI payment but below RTGS territory.
IMPS (Immediate Payment Service) is operated by NPCI and was the original 24×7 instant transfer in India. It settles in seconds and supports amounts up to ₹5 lakh (your bank sets the exact cap). Unlike NEFT and RTGS, IMPS may carry a small charge — typically ₹2.50 to ₹15 depending on the amount and bank. You can send via account number + IFSC, or via the older MMID + mobile number method.
UPI — the everyday default
Best for: almost everything day-to-day — shops, friends, bills, subscriptions.
UPI (Unified Payments Interface), also from NPCI, is now the most-used method in the country. It is instant, free and needs no IFSC — you pay to a UPI ID (VPA), a QR code or a linked mobile number. The standard limit is ₹1 lakh per day, with higher NPCI-approved limits for specific verified-merchant categories. Its only real weakness is that single large transfers (several lakhs) are better handled by IMPS or RTGS.
You'll need an IFSC code for NEFT, RTGS & IMPS
To add a beneficiary for NEFT, RTGS or IMPS you need their IFSC code — the 11-character code that identifies the exact bank branch. If you only have a cheque, passbook or the branch name, you can look the code up in seconds:
🔎 Find any IFSC code & branch details →
UPI does not need an IFSC code, because the UPI ID already points to the underlying account.
Frequently asked questions
Which is faster, NEFT or IMPS?
IMPS is faster — it settles instantly, 24×7. NEFT is batched, so the money usually arrives within a few minutes to two hours.
Is there a charge for NEFT or RTGS?
No, not for online transfers. The RBI has waived NEFT and RTGS charges for transactions initiated through net banking or a mobile app. Branch transfers may still carry a small fee.
What is the maximum I can send via UPI?
₹1 lakh per day for most payments. Certain verified-merchant categories (capital markets, insurance, education, healthcare) allow up to ₹5 lakh per transaction and ₹10 lakh per day under current NPCI rules.
Can I send ₹3 lakh instantly?
Yes — use IMPS (instant, up to ₹5 lakh) or RTGS (instant, ₹2 lakh and above). A single UPI payment usually cannot cover it.
Limits, timings and charges are set by the RBI, NPCI and individual banks and can change. Always confirm the current values in your own bank's app or website before a large transfer. Last updated June 2026.