It’s 9:12 AM, and the market is moving. You try adding funds to your trading account and realise your money is sitting in the wrong bank account. UPI is taking time, NEFT may not credit instantly, and you need the transfer now. That’s when most people switch to IMPS, because it works 24×7 and usually credits quickly.

But there’s one catch many beginners notice only after the transfer: IMPS charges. In this guide on IMPS charges 2026, you’ll learn what banks charge per IMPS transaction, how these fees are applied, real bank-wise slabs, and when IMPS makes sense compared with NEFT, RTGS, and UPI.

What are IMPS charges in 2026?

IMPS charges are the fees a bank may take when you send money using Immediate Payment Service (IMPS). These charges are usually per transaction and often depend on:

Transfer amount slab (example: up to ₹1,000, ₹1,001–₹100,000, etc.)
Channel (mobile/net banking vs branch)
Bank policy and account type (some accounts may have different pricing)

In 2026, IMPS charges are still bank-specific. Two people sending the same amount via IMPS can pay different fees depending on their bank.

Also, IMPS has a widely used limit of ₹5 lakh per transaction (for channels other than SMS and IVR).

How IMPS Transfers and Charges Are Applied

Here’s what happens behind the scenes, in a simple flow:

You initiate an IMPS transfer
You use your bank’s mobile app, net banking, or sometimes a branch.

You enter beneficiary details.
Most users send it via Account Number + IFSC. Some banks also support mobile-based options (like MMID).

The transfer is processed instantly through the IMPS network.k
IMPS is designed for anytime transfers. Axis, for example, states there are no timing or holiday restrictions.

Charges (if any) are applied per transaction.
If your bank charges for IMPS, the fee is usually slab-based and debited immediately. Many banks also mention “taxes extra” or “+ GST”.

You receive confirmation
You typically get a reference number/message once the transfer is completed.

Example

Ravi wants to add funds to his trading account at 9:10 AM because he plans an intraday trade after the market opens. He needs ₹75,000 to reach the broker instantly.

If Ravi uses IMPS, the money can reach him immediately (IMPS works 24×7).
If his bank charges IMPS fees for this slab, he will pay a small amount (plus GST) as a transaction charge.

For instance:

Axis Bank outward IMPS charges for ₹1,000 to ₹100,000 are ₹5 per transaction (taxes extra).
PNB charges for ₹1,001 to ₹1 lakh through mobile/net banking are ₹5 + GST.

So, if Ravi’s bank follows a similar slab, his total cost is usually just a few rupees – but if he transfers many times in a month, these small charges can add up.

Key Features

Works 24×7, including weekends and holidays (bank-stated).
Fast credit, which helps in time-sensitive use cases like margin top-ups.
The transaction limit is commonly up to ₹5 lakh (excluding SMS/IVR rules).
Charges vary by bank and slab, and GST may apply where fees are charged.

IMPS Charges 2026 by Bank

Banks can update fees, so treat this as a reference and double-check your bank’s latest page/schedule before transferring.

Bank	IMPS Charges (Digital / Online)	Notes
SBI	From 15 Feb 2026, SBI introduced tiered charges for online IMPS above ₹25,000 (commonly reported: ₹2 + GST for ₹25k–₹1L, ₹6 + GST for ₹1L–₹2L, and ₹10 + GST for ₹2L–₹5L).	SBI’s own communication references revised IMPS charges from that date; some account types may have exemptions.
Axis Bank	Up to ₹1,000: ₹2.50; ₹1,000–₹1L: ₹5; ₹1L–₹5L: ₹10 (taxes extra).	Inward IMPS is shown as Nil.
PNB	Up to ₹1,000: Nil; ₹1,001–₹1L: ₹5 + GST (internet/mobile); above ₹1L: ₹10 + GST (internet/mobile).	Branch IMPS charges are higher as per the same page.
ICICI Bank	Up to ₹1,000: ₹2.50 + GST; ₹1,000–₹1L: ₹5 + GST; ₹1L–₹5L: ₹15 + GST (effective July 1, 2025).	ICICI also lists online NEFT/RTGS charges as nil (useful when cost is a priority).
HDFC Bank	Some published references list slabs like ₹2.50 + GST (up to ₹1,000), ₹5 + GST (₹1,001–₹100,000), and ₹15 + GST (above ₹1L).	HDFC’s direct fees page may block access in some regions; verify in your app/site.

Advantages

Best when timing matters: IMPS is useful when you need money credited quickly for trading, investing, or urgent payments.
Works beyond bank hours: You can send funds on weekends and holidays.
Clear slab-based pricing: Most banks publish slabs, so you can estimate the fee before sending.

Risks or Limitations

Frequent transfers can get costly: A ₹5–₹10 fee looks small, but repeated transactions add up across a month.
Branch charges may be higher: Some banks price branch IMPS higher than internet/mobile.
Wrong details are hard to fix: IMPS is fast, so always confirm beneficiary details carefully.
Bank caps can apply: Even if IMPS supports ₹5 lakh per transaction, banks may set lower limits per customer/channel.

IMPS vs NEFT vs RTGS vs UPI: Which should you use?

Feature	IMPS	NEFT	RTGS	UPI
Speed	Usually instant	Often quick, not always instant	Real-time	Instant
Availability	24×7	24×7 in most banks	24×7	24×7
Typical cost	Slab-based, bank decides	Often free online at many banks (example: ICICI says online NEFT charges nil)	Often free online at many banks (example: ICICI says online RTGS charges nil)	Usually free for most retail transfers (bank rules vary)
Best for	Urgent bank transfers	Planned transfers	Higher-value transfers	Quick person-to-person transfers

Simple rule:

Need instant credit and bank-to-bank transfer? IMPS often fits.
Want to reduce charges and can plan? Online NEFT/RTGS may be cheaper at many banks.

Free IMPS banks: Is IMPS free anywhere in 2026?

This is where many users get confused. There is no single list of “all free IMPS banks” for everyone, because free IMPS is often tied to the account type, not the bank as a whole.

Where IMPS may be free

PNB shows Nil online IMPS only for transfers up to ₹1,000. Above that, charges apply.
Kotak 811 product material says free online transfers, including IMPS.
Kotak Everyday Salary Account also shows IMPS Nil.
Bank of Baroda has some account variants where IMPS/UPI is free unlimited, such as Bob Masterstroke LITE, and some specialised savings accounts also list outward and inward IMPS as nil.

Important caution:

A bank may advertise free IMPS for one account variant, while regular savings or current account customers still pay slab-based fees. So instead of asking “Is Bank X free for IMPS?”, the better question is:

“Is IMPS free for my exact account type and transfer channel?”

That’s the angle worth adding for readers, especially beginners.

Hidden charges and edge cases most people miss

This section is worth adding because the listed IMPS fee is not always the final cost.

1) GST can increase the final debit

A bank may quote ₹5 or ₹10 as the IMPS fee, but many banks separately add GST/applicable taxes, making the actual debit slightly higher.

2) Branch IMPS can cost more than online IMPS

PNB clearly shows higher branch charges than internet/mobile charges for some slabs. So, using branch IMPS for convenience can cost extra.

3) Inward can be free while outward is chargeable

Axis lists inward IMPS as Nil, but outward transfers are charged slab-wise. Users often assume “IMPS is free” after receiving money once, then get surprised when sending money later.

4) Account-type exemptions may apply

Some premium, salary, zero-balance, youth, or product-specific accounts may include free IMPS, while the bank’s standard fee page still shows normal slabs for others. Kotak and Bank of Baroda examples show this clearly.

5) Bank-side limits can be lower than NPCI’s ₹5 lakh cap

NPCI allows up to ₹5 lakh per transaction for most IMPS channels, but your bank may impose lower per-day or per-beneficiary limits.

6) Failed transfers can temporarily block funds

Even when IMPS fails, the amount may get debited first and reversed later, depending on bank processing. ICICI notes transfers are processed instantly, but in rare cases could take longer.

7) Multiple small transfers can quietly increase cost

Three transfers of ₹40,000 may cost more than one transfer of ₹1.2 lakh, depending on the slabs and urgency.

8) “Free online transfers” may exclude branch or certain channels

Some product pages say free IMPS, but this may only apply to digital channels, not branch-initiated transactions.

IMPS vs NEFT vs RTGS vs UPI: Which should you use?

Some product pages say free IMPS, but this may only apply to digital channels, not branch-initiated transactions.

Common Mistakes

Assuming IMPS is always free: Some banks changed pricing for higher slabs in 2026 (example: SBI’s Feb 2026 update for online IMPS above ₹25,000).
Forgetting GST/taxes: Many banks mention GST or “taxes extra”, so the final debit can be slightly higher.
Doing multiple small IMPS transfers: Several small transfers can cost more than one planned transfer.
Using branch IMPS without checking charges: Branch pricing can be higher than mobile/net banking.

Who Should Use This Concept

IMPS is useful for:

Traders who need instant fund transfer for margin or quick account funding
Investors making time-sensitive payments
Anyone who values speed and 24×7 availability more than saving a few rupees

IMPS may be less suitable for:

People who do small transfers and want to reduce fees
Users who can plan and use online NEFT/RTGS, where charges are often nil at many banks

Conclusion

IMPS charges in 2026 depend on your bank, transfer amount slab, and channel. IMPS is often worth it when you need quick credit, but the per-transaction fee becomes important if you transfer frequently. Before sending money, check your bank’s latest IMPS slab, watch for GST, and choose between IMPS, NEFT, RTGS, or UPI based on urgency.

Need instant funds for trading? Learn the fastest ways to add money to your Alice Blue account without delays.