Compares the fee (with 18% GST) for the four standard rupee transfer modes. RBI mandates zero charge for NEFT/RTGS via internet banking since Jan 2020; branch-initiated transactions still attract fees. UPI is free for P2P; merchant P2PM is free under ₹2,000.
Fees by mode (including 18% GST)
UPI
₹0
Free for P2P / P2PM
NEFT
₹0
Available 24×7
RTGS
₹0
Min ₹2,00,000; real-time
IMPS
₹0
Instant, up to ₹5,00,000
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RBI / bank slab summary
NEFT online: Free (RBI directive since 1 Jan 2020). Branch: up to ₹2.5 + GST for amounts < ₹10k, up to ₹25 + GST for ₹10k–₹2L.
RTGS online: Free. Branch: ₹24.5 + GST for ₹2–5L; ₹49.5 + GST above ₹5L. Min txn ₹2L.
IMPS: ₹2.5 + GST up to ₹10k, ₹5 + GST up to ₹1L, ₹15 + GST up to ₹2L, ₹25 + GST up to ₹5L (bank-wise).
UPI: Free for individuals. P2PM (person-to-merchant) charges started 2023 for transactions above ₹2,000 on prepaid instruments but not on bank accounts.