Indian Overseas Bank IMPS Charges

Last Updated : July 4, 2025, 3:30 p.m.

In the era of digital banking, Indian Overseas Bank IMPS charges are a key consideration for customers seeking fast, secure, and cost-effective fund transfers. Immediate Payment Service (IMPS) enables Indian Overseas Bank (IOB) account holders to transfer money instantly, 24/7, including weekends and holidays, making it ideal for urgent transactions. This article provides a comprehensive guide to IOB IMPS charges 2025, transaction limits, and steps to perform IMPS transfers.

Indian Overseas Bank IMPS Fees in 2025

Indian Overseas Bank maintains a competitive fee structure for IMPS transactions, with charges varying based on the transaction amount. As of 2025, the Indian Overseas Bank IMPS fees are as follows, based on available information:

• Up to ₹10,000 : ₹2.50 + GST per transaction
• ₹10,000 to ₹1,00,000 : ₹5 + GST per transaction
• Above ₹1,00,000 up to ₹2,00,000 : ₹15 + GST per transaction

Key Points :

• Outward IMPS Transactions : The above charges apply to funds sent from an IOB account.
• Inward IMPS Transactions : No charges for receiving funds.
• Mobile Banking : IMPS transactions via the IOB Mobile Banking app or IOB Net Banking may be free for certain account types, such as IOB Freedom Current Account or premium accounts, as per bank promotions.
• Branch-Based IMPS : Additional service fees may apply for transactions initiated at a branch; confirm with the nearest IOB branch.
• GST : Standard GST rates (18%) are applicable on all mentioned charges.

Key Features of Indian Overseas Bank IMPS

• 24/7 Availability : Transfer funds anytime, including bank holidays and weekends.
• Instant Transfers : Funds are credited to the beneficiary’s account within minutes.
• Secure Transactions : Uses OTP-based authentication, MPIN, and 128-bit SSL encryption for safety.
• Flexible Options : Transfer using Mobile Money Identifier (MMID) and mobile number (P2P) or IFSC code and account number (P2A).

Indian Overseas Bank IMPS Transaction Limits

Indian Overseas Bank aligns its IMPS transaction limits with NPCI and RBI guidelines to ensure security and compliance. The IMPS transfer limits for IOB in 2025 are:

• Maximum Daily Limit : ₹2,00,000 (via mobile banking or net banking).
• Per Transaction Limit : Up to ₹2,00,000, depending on account type and customer profile.
• Minimum Transaction Amount : ₹1.
• MMID-Based Transfers (P2P) : Limited to ₹10,000 per day for added security.
• New Beneficiary Transfers : Maximum ₹10,000 on the first day of beneficiary activation.

To verify specific limits for your account, log in to IOB Net Banking .

How to Perform an IMPS Transfer with Indian Overseas Bank?

Indian Overseas Bank provides multiple platforms for IMPS transfers, including the IOB Mobile Banking app, IOB Net Banking, and branch visits. Below is a step-by-step guide to performing an IMPS transfer:

Using IOB Mobile Banking App or Net Banking

1. Log In : Access your IOB Net Banking portal or IOB Mobile Banking app using your User ID and password.
2. Select IMPS : Navigate to the “Fund Transfer” section and select “Other Bank using IMPS.”
3. Add Beneficiary :
   • For MMID-based transfers (P2P): Enter the beneficiary’s mobile number and 7-digit MMID.
   • For account-based transfers (P2A): Provide the beneficiary’s account number and IFSC code.
4. Register Beneficiary : Confirm beneficiary details. A cooling period (typically 30 minutes to 1 hour) may apply for new beneficiaries.
5. Enter Amount : Input the transfer amount (up to ₹2,00,000 per day).
6. Authenticate : Enter the OTP sent to your registered mobile number or use your MPIN (for mobile app).
7. Submit : Complete the transaction. You’ll receive a confirmation SMS with an IMPS tracking number.

Via Indian Overseas Bank Branch

1. Visit the nearest IOB branch.
2. Fill out the IMPS form, providing beneficiary details (account number/IFSC or MMID/mobile number).
3. Submit the form with the desired transfer amount.
4. Receive a transaction confirmation via SMS.

Tip : Verify beneficiary details carefully to avoid errors, as IMPS transactions are irreversible.

Benefits of Using Indian Overseas Bank IMPS

• Affordable Fees : Low charges, starting at ₹2.50 + GST for transactions up to ₹1,00,000.
• Instant Transfers : Funds are credited within minutes, ideal for urgent payments.
• Secure : OTP or MPIN authentication and SSL encryption ensure safety.
• Convenient : Accessible via mobile app, net banking, or branches.
• 24/7 Availability : Transfer funds anytime, even on holidays.
• Versatile Uses : Pay utility bills, credit card bills, or make online purchases.

Security Tips for Indian Overseas Bank IMPS Transactions

• Protect OTPs and MPIN : Never share your OTP or MPIN with anyone, as they are critical for transaction authentication.
• Use Secure Networks : Avoid public Wi-Fi for mobile or net banking transactions.
• Log Out : Always log out after completing transactions to prevent unauthorized access.
• Monitor Accounts : Regularly check your transaction history for suspicious activity.
• Use Official Channels : Access IMPS services only through IOB’s official website or IOB Mobile Banking app.

Conclusion

Indian Overseas Bank’s IMPS service offers a fast, secure, and affordable way to transfer funds instantly, with IMPS charges starting at ₹2.50 + GST for transactions up to ₹10,000 and a maximum daily limit of ₹2,00,000. Leveraging the IOB Mobile Banking app or IOB Net Banking ensures seamless, cost-effective transfers. Embrace the convenience of IMPS for real-time, hassle-free fund transfers across India.