Important news has come out for the customers of State Bank of India (SBI). The bank has decided to change the charges levied on transactions through Immediate Payment Service (IMPS). This new rule will come into effect from August 15, 2025. However, it will have different effects on transactions done online and from the branch. Small transactions will still be free, but some large amounts of online transactions will now attract a nominal fee. It is very important for SBI customers living in Fulbaria, Bihar, to know about these changes. Let us know what these new rules are and how they will affect you.
What is IMPS
IMPS is a modern and instant payment service, which is available 24 hours a day. This service is provided by the National Payment Corporation of India (NPCI). Up to ₹5 lakh can be sent per transaction through IMPS (for all channels except SMS and IVR).
New charges on online IMPS transactions
SBI has created some new slabs for IMPS transactions done online, while some old rules have been retained.
Transactions up to ₹25,000: This will be free for online users.
Transactions from ₹25,000 to ₹1,00,000: A fee of ₹2 + GST will be charged.
Transactions from ₹1,00,000 to ₹2,00,000: A fee of ₹6 + GST will be charged.
Transactions from ₹2,00,000 to ₹5,00,000: A fee of ₹10 + GST will be charged.
It is worth noting that earlier, all these online IMPS transactions were free. However, salary account holders will continue to get full exemption on online IMPS transfer. Fulbaria customers who mostly do online transactions will have to take care of these new charges.
No change in IMPS transactions done from the branch
SBI has not made any change in the service charges for IMPS transactions done through the branch. Transactions done from the branch will be charged as before. The lowest branch charge is ₹2 + GST, while the highest branch charge is ₹20 + GST. This is a relief for Fulbaria customers who go to the branch and do IMPS.
IMPS charges of other banks
Apart from SBI, IMPS charges of other banks are also different:
Canara Bank
Transactions less than ₹1,000 are free. ₹1,000 to ₹10,000 ₹3 + GST, ₹10,000 to ₹25,000 ₹5 + GST, ₹25,000 to ₹1,00,000 ₹8 + GST, ₹1,00,000 to ₹2,00,000 ₹15 + GST and ₹2,00,000 to ₹5,00,000 ₹20 + GST.
Punjab National Bank
IMPS transactions up to ₹1,000 are free. ₹1,001 to ₹1,00,000 is ₹6 + GST from branch and ₹5 + GST online. For transactions above ₹1,00,000, ₹12 + GST from the bank and ₹10 + GST online.
Phulbardiya customers are advised to keep in mind these new rules that will come into effect from 15 August 2025, so that they do not face any problems while using IMPS. Customers doing online transactions will now need to be a little more cautious.