What is the Difference between RTGS and IMPS or NEFT ?

IMPS (Immediate Payment Service) has become the most favorite of online funds transfer methods. You Can use it to transfer money to any other bank, anytime (24 X 7), any day (including Holidays or Sundays) and Funds Actually Get Transferred Instantly, within seconds.

NEFT or RTGS are widely used online funds transfer methods, NEFT takes around 2-4 hours to actually transfer funds while RTGS does it almost instantly, but only within Working hours and does not operate on holidays. Generally, NEFT is used for Values up to 1 lac and RTGS for values above 1 lac.