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India’s largest public sector bank, State Bank of India (SBI), has revised IMPS transaction charges for retail customers, with the new rates set to come into effect from August 15, 2025.

The revision applies differently to online and branch transactions, introducing nominal fees for certain slabs while keeping some unchanged. This change is part of the bank’s regular review of service charges to align with operational costs and industry practices.

Immediate Payment Service (IMPS) is a real-time interbank electronic funds transfer system operated by the National Payments Corporation of India (NPCI). It allows customers to send and receive money instantly, 24x7, including weekends and bank holidays.

At SBI, the maximum limit for IMPS transactions is ₹5 lakh (excluding SMS and IVR channels).

Previously, online IMPS transactions were free for all amounts. Under the revised structure, transfers above ₹25,000 will attract a minimal fee:

• Up to ₹25,000 – No charge

• ₹25,001 to ₹1 lakh – ₹2 + GST

• ₹1 lakh to ₹2 lakh – ₹6 + GST

• ₹2 lakh to ₹5 lakh – ₹10 + GST

This means small-value transfers remain free, but customers making larger transfers online will need to pay a nominal fee.

For transactions conducted through SBI branches, there is no change in the existing charges:

• Minimum – ₹2 + GST

• Maximum – ₹20 + GST

SBI has retained the waiver on online IMPS charges for customers holding specific salary and pension accounts. These include:

• 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

Additionally, customers with Corporate Salary Package, State Government Salary Package, Startup Salary Package, and Family Savings Accounts will also enjoy zero charges for online IMPS transfers.

Canara Bank IMPS Charges:

• Up to ₹1,000 – No charge

• ₹1,001 to ₹10,000 – ₹3 + GST

• ₹10,001 to ₹25,000 – ₹5 + GST

• ₹25,001 to ₹1 lakh – ₹8 + GST

• ₹1 lakh to ₹2 lakh – ₹15 + GST

• ₹2 lakh to ₹5 lakh – ₹20 + GST

Punjab National Bank (PNB) IMPS Charges:

• Up to ₹1,000 – No charge

• ₹1,001 to ₹1 lakh – ₹6 + GST (branch), ₹5 + GST (online)

• Above ₹1 lakh – ₹12 + GST (branch), ₹10 + GST (online)

Compared to these, SBI’s revised rates remain lower for most slabs, particularly for high-value online transactions.

The new charges will not affect customers making small transfers of up to ₹25,000 online, as these will remain free. However, customers transferring larger amounts will incur a nominal fee, making the biggest impact on high-value transactions.

From a broader perspective, SBI’s revision is modest compared to private and public sector peers, keeping its services relatively affordable. For many exempt account holders, the change will not bring any cost increase at all.

Bottom Line:
From August 15, SBI customers should be aware of the revised IMPS fee structure, especially for transfers exceeding ₹25,000. While the charges are minimal and remain competitive compared to other banks, planning transactions with the new slabs in mind can help customers avoid unnecessary fees.