IMPS full form is Immediate Payment Service. It is an instant electronic fund transfer service that allows inter and intra-bank transfers. In simple word, IMPS helps customers transfer money instantly from one account to another.
Short for Immediate Payment Service, IMPS is an instant inter-bank electronic fund transfer service.
You can send money in real-time using IMPS.
IMPS is available 24x7 throughout the year, including on Sundays and bank holidays.
Transaction Limit: Per day Rs.5,00,000 /-
Banks don’t charge a minimal amount for availing IMPS facility.