Top News

State Bank of India (SBI) has given a big shock to its customers. Now the customers of the bank will have to pay a fee on online IMPS transfer from August 15, 2025, which was completely free earlier. IMPS i.e., Instant Money Payment Service, is a real-time fund transfer system, with the help of which any person can transfer money instantly. This service is available 24 hours a day and 365 days a year.

A maximum of ₹5 lakh can be transferred at a time through IMPS. Let us tell you that the change made by SBI will be applicable only on online transactions, and nominal charges will be added in some slabs. However, these charges will still not be levied on some accounts. Let us know how much fee has been levied by the bank on which slab.

How much fee will be charged on online IMPS transactions?

If you do IMPS through online mediums like internet banking, mobile banking, or UPI, then you will now have to pay a fee. These charges are as follows: No fee will be charged up to ₹ 25,000. ₹25,001 to ₹1 lakh will be charged ₹2 + GST. ₹6 + GST will be charged on ₹1 lakh to ₹2 lakh. ₹10 + GST will be charged on ₹2 lakh to ₹5 lakh. Earlier, there was no charge on all these transactions, but now a little money will have to be paid on every slab.

Relief to salaried customers
SBI customers who are salaried in any government or private institution and have a special Salary Package Account will get relief from this charge. These include accounts like DSP, CGSP, PSP, RSP, CSP, SGSP, ICGSP, and SUSP, on which IMPS charges will still not be levied.

No change in doing IMPS from the branch
If you go to SBI branch and do IMPS, then the fee will be charged there as before. No change has been made in this. The charges on IMPS transactions done from the branch can start from ₹2 and go up to ₹20 + GST, depending on the amount of transfer.

What is the situation in other banks?

Canara Bank has no charges up to ₹1,000, while transactions from ₹1,000 to ₹5 lakh are charged from ₹3 to ₹20 + GST. PNB (Punjab National Bank) has no charges up to ₹1,000. Online transactions above ₹1,001 are charged from ₹5 to ₹10 + GST, while this charge is slightly higher when the transaction is done from the branch.

What is the IMPS charge?
IMPS charge is the amount that the bank takes from you for the facility in which it immediately transfers your money to another person's account. This fee may vary depending on the amount you transfer. Usually, the bank charges this fee for maintaining the digital service, network expenses, and processing the transaction.

Disclaimer: This content has been sourced and edited from TV9. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.