The country’s largest public sector bank, State Bank of India (SBI), has revised the IMPS transaction charges for retail customers. These new rates will be applicable from August 15, 2025. These changes have been implemented differently on both online and branch channels.
The country’s largest public sector bank, State Bank of India (SBI), has revised the IMPS transaction charges for retail customers. These new rates will be applicable from August 15, 2025. These changes have been implemented differently on both online and branch channels. Charges have changed in some slabs, while some will remain the same.
What is IMPS?
IMPS is a real-time payment service operated by NPCI (National Payments Corporation of India). Its specialty is that it is available 24×7, even on bank holidays, you can transfer money online.
The maximum limit for IMPS transactions in SBI is Rs 5 lakh (excluding SMS and IVR channels).
Online IMPS charges in SBI
- Up to Rs 25,000 – No charge
- Rs 25,001 to Rs 1 lakh – Rs 2 + GST
- Rs 1 lakh to Rs 2 lakh – Rs 6 + GST
- Rs 2 lakh to Rs 5 lakh – Rs 10 + GST
Earlier, there was no charge on online IMPS transactions, but now a nominal charge will have to be paid for amounts above Rs 25,000.
IMPS charges at branch
SBI has not made any change in the charges for IMPS transactions done from the branch.
- Minimum charge – Rs 2 + GST
- Maximum charge – Rs 20 + GST
Who will get the exemption?
SBI has waived online IMPS charges for several salary package accounts. These include:
- Defence
- Defence Salary Package
- Para Military Salary Package
- Indian Coast Guard Salary Package
- Central Government Salary Package
- Police Salary Package
- Railway Salary Package
- Shaurya Family Pension Accounts
- Apart from this, charges are waived on online channels for Corporate Salary Package, State Government Salary Package, Startup Salary Package and Family Saving Account.
IMPS charges of other banks
Canara Bank
- Up to Rs 1,000 – No charge
- Rs 1,000 to Rs 10,000 – Rs 3 + GST
- Rs 10,000 to Rs 25,000 – Rs 5 + GST
- Rs 25,000 to Rs 1 lakh – Rs 8 + GST
- Rs 1 lakh to Rs 2 lakh – Rs 15 + GST
- Rs 2 lakh to Rs 5 lakh – Rs 20 + GST
Punjab National Bank (PNB)
- Up to Rs 1,000 – No charge
- Rs 1,001 to Rs 1 lakh –
- From branch – Rs 6 + GST
- Online – Rs 5 + GST
- Above Rs 1 lakh –
- From branch – Rs 12 + GST
- Online – Rs 10 + GST
This change of SBI will not affect customers with small transactions, because above Rs 25,000 There is no charge for online IMPS up to Rs. But, customers transferring large amounts will now have to pay a small charge. SBI’s new charges are less compared to other banks.
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