SBI Charges: Important news for State Bank of India (SBI) customers. The bank is going to revise the charges associated with Immediate Payment Service (IMPS) transactions. State Bank of India has announced revision of IMPS transaction charges for customers. This change will come into effect from August 15, 2025. However, it will have different effects on online and branch mediums. Small transactions will still be free, but some high value online transactions will now attract a nominal fee. Please note that no change has been made in the IMPS charges in the branches.
These changes will apply separately to online and branch channels, with new charges applicable in some slabs while others will remain unchanged. Small value IMPS transactions up to Rs 25,000 will remain free for online users. However, transactions worth more than Rs 25,000 made through online means will attract a nominal fee from August 15, 2025.
Salary account holders will continue to get full exemption on online IMPS transfers. Let us tell you that IMPS is an innovative real-time payment service which is available round the clock. This service is provided by the National Payments Corporation of India (NPCI). The per transaction limit on IMPS is Rs 5 lakh (for all channels except SMS and IVR).
Who has to pay charges for IMPS transactions in SBI?
For online IMPS transactions, amounts above Rs 25,000 and up to Rs 1,00,000 will be charged Rs 2 + GST , amounts above Rs 1,00,000 and up to Rs 2,00,000 will be charged Rs 6 + GST, and amounts above Rs 2,00,000 and up to Rs 5,00,000 will be charged Rs 10 + GST. Earlier, these transactions were free.
What are the charges for IMPS transactions done at SBI branches?
SBI has not made any change in any of the service charges made through branch channels. The lowest branch charge is Rs 2 + GST, while the highest branch charge is Rs 20 + GST.
Canara Bank IMPS Transaction Charges
There is no fee for transactions less than Rs 1,000. Transactions from Rs 1,000 to less than Rs 10,000 are charged Rs 3 + GST, transactions from Rs 10,000 to less than Rs 25,000 are charged Rs 5 + GST, and transactions from Rs 25,000 to less than Rs 1,00,000 are charged Rs 8 + GST. Amounts from Rs 1,00,000 to less than Rs 2,00,000 are charged Rs 15 + GST, while transactions from Rs 2,00,000 to Rs 5,00,000 are charged Rs 20 + GST.