SBI : Millions of customers of the largest public sector bank in the country, State Bank of India (SBI), are in for a surprise. The instant money transfer service offered by SBI, which was nearly free until now, is set to become more costly. Starting February 15, 2026, if you transfer a significant amount using online IMPS, it will no longer be entirely free. SBI will introduce a service charge for online IMPS transactions exceeding Rs 25,000.
What was the previous system?
Previously, SBI customers could transfer amounts up to ₹5 lakh via online IMPS without incurring any charges. Whether using internet banking or the YONO app, there were no fees for any amount. However, with the new regulations coming into effect, this service will become pricier. The good news is that the charges for IMPS transactions conducted at branches will remain unchanged.
Which transactions will incur charges?
Under the new guidelines, online IMPS transactions ranging from Rs 25,000 to Rs 5 lakh will now attract fees.
Rs 25,000 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
This means that if you transfer Rs 3 lakh through YONO or internet banking, you will need to pay ₹10 plus GST. Customers sending smaller amounts will benefit from some relief, as online IMPS transactions up to Rs 25,000 will continue to be free.
What changes if IMPS is done at the branch?
For customers who visit the bank branch to perform IMPS, the charges will remain the same as they were before.
Up to Rs 1,000: Free
Rs 1,000 to Rs 1 lakh: Rs 4 + GST
Rs 1 lakh to Rs 2 lakh: Rs 12 + GST
Rs 2 lakh to Rs 5 lakh: Rs 20 + GST
The implication is clear: online transactions will still be more economical than branch transactions, but they will no longer be completely free.
Which accounts won’t incur charges?
SBI has waived fees for specific accounts. This includes salary package accounts like DSP, PMSP, CGSP, PSP, RSP, and others.
Shaurya Family Pension Account
SBI Rishta (Family Savings Account)
CSP, SGSP, SUSP accounts
If your account is one of these types, you won’t have to pay any fees for online IMPS either.