NEFT vs RTGS vs IMPS Comparison
| Feature | NEFT | RTGS | IMPS |
|---|---|---|---|
| Full Form | National Electronic Funds Transfer | Real Time Gross Settlement | Immediate Payment Service |
| Minimum Amount | ₹1 | ₹2,00,000 | ₹1 |
| Maximum Amount | No limit | No limit | ₹5,00,000 |
| Transfer Speed | 2-3 hours | 30 minutes | Instant |
| Availability | 24x7 | Mon-Fri: 9 AM - 4:30 PM Sat: 9 AM - 1:30 PM |
24x7 |
| Charges | Free (most banks) | ₹25-50 | ₹5-15 |
| IFSC Code Required | ✅ Yes | ✅ Yes | ✅ Yes |
When to Use NEFT
- Regular bill payments
- Small to medium amounts
- Not urgent transfers
- Most cost-effective
When to Use RTGS
- Large amounts (₹2L+)
- Property transactions
- Business payments
- During banking hours
When to Use IMPS
- Emergency transfers
- After banking hours
- Amounts up to ₹5L
- Instant settlement needed