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India Post Payments Bank: Transaction Limit And Charges You Pay For Instant Money Transfer

For NEFT transfers initiated from access points, India Post Payments Bank charges a fee of Rs 2.5-25 per transaction from its customers.

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India Post Payments Bank: Transaction Limit And Charges You Pay For Instant Money Transfer

India Post Payments Bank started countrywide operations in September this year


Other than providing a free intra-bank fund transfer service to its customers, India Post Payments Bank also provides instant money transfer services. IPPB or India Post Payments Bank charges a fee ranging from Rs 2.5 to Rs 50 per transaction from its customers for instant money transfer through NEFT, RTGS and IMPS payments platforms, according to the government-owned payments bank's website - ippbonline.com. NEFT (National Electronic Funds Transfer), RTGS (Real Time Gross Settlement) and IMPS (Immediate Payment Service) are payments platforms that enable instant money transfer - also known as wire transfer - from one bank account to another through computer systems. 

India Post Payments Bank instant money transfer - transaction limits and transaction charges

For NEFT transfers initiated from access points, India Post Payments Bank charges a fee of Rs 2.5-25 per transaction from its customers, according to its website. The bank charges a fee ranging from Rs 2.5 to Rs 20 for an NEFT transaction made through mobile banking, it noted.

Mode of money transferTransaction size (rupees)Charges at access point and doorstep (rupees)Charges for mobile banking (rupees)
Intra Bank(IPPB account to IPPB account)FreeFreeFree
IMPSUp to 2,000105
2,001-5,000205
Above 5,0005010
NEFTUp to 10,0002.52.5
10,001 to 1 lakh55
1 lakh to 2 lakh1510
Above 2 lakh2520
RTGS2 lakh to 5 lakh2525
Above 5 lakh5050
(Source: ippbonline.com)

For instant fund transfer through RTGS, the payments bank - which started countrywide operations in September this year - charges a fee of Rs 25-50 per transaction, according to its website.

India Post Payments Bank customers are charged a fee of Rs 5-50 per transaction for instant money transfer through IMPS, according to the lender's portal.

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