State Bank of India (SBI) has given a big shock to its customers. Now the bank’s customers will have to pay a fee for sending money through online IMPS (instant money transfer service) from August 15, 2025, whereas this facility was absolutely free earlier. IMPS is a real-time fund transfer system through 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 through IMPS at a time. SBI customers will also have to loosen their pockets more to use online IMPS. Let us know how much fee has been imposed by SBI on which slab.
How much fee will be charged on an online IMPS transaction
This new decision of SBI will affect all those customers who do IMPS through internet banking, mobile banking, or UPI.
Up to ₹ 25,000:- There will be no charge up to this amount; it is still free.
₹25,001 to ₹1 lakh:- ₹2 + GST will be charged.
₹1 lakh to ₹2 lakh:- ₹6 + GST will be charged.
₹2 lakh to ₹5 lakh:- ₹10 + GST will be charged.
Earlier, there was no charge for all these online transactions, but now some money will have to be paid for every slab.
Relief to salaried customers
SBI customers who work in a government or private institution and have a special salary package account will get relief from this fee. These include accounts like DSP, CGSP, PSP, RSP, CSP, SGSP, ICGSP, and SUSP, on which IMPS charges will still not be levied. Salaried customers of Fulbaria who use these accounts will be spared from this change.
No change in IMPS from the branch
If you go to an SBI branch and do IMPS, then the fee will be charged as before. No change has been made in this. The fee on IMPS transactions done from the branch can start from ₹ 2 to ₹ 20 + GST, which will depend on the amount of transfer. For those customers who still go to the branch and do IMPS, this situation will remain the same as before.
What is the IMPS fee
IMPS fee is the amount that the bank charges you for the facility, which allows you to immediately transfer your money to another person’s account. This fee can vary depending on the amount you transfer. Usually, the bank charges this fee for digital service, network expenses, and processing the transaction. SBI customers will now have to keep all these things in mind while using online IMPS.