SBI Customers Get Free IMPS Transfers Till ₹25,000

The State Bank of India (SBI) has updated its Immediate Payment Service (IMPS) charges for retail customers, effective August 15. While small-value transfers remain free, nominal fees will now apply to higher-value transactions made online.

Free for Small Transfers

Good news for most users online IMPS transfers up to ₹25,000 will continue to be free of charge. This means day-to-day payments remain unaffected.

Revised Charges for Larger Transactions

For those sending bigger amounts, SBI has introduced a tiered fee structure:

• ₹25,001 – ₹1 lakh: ₹2 + GST
• ₹1 – 2 lakh: ₹6 + GST
• ₹2 – 5 lakh: ₹10 + GST
• Higher-value IMPS: Up to ₹20 + GST

Branch IMPS charges, however, remain unchanged.

Exemptions for Salary Package Holders

Certain account holders will not feel the pinch. Employees under government, defence, corporate, and related salary packages such as DSP, PMSP, CGSP, PSP, RSP, and more will continue to enjoy zero charges on online IMPS transfers.

IMPS at a Glance

Powered by the National Payments Corporation of India (NPCI), IMPS enables real-time, round-the-clock money transfers with a maximum limit of ₹5 lakh. Customers can transact through branch, ATM, IVR, mobile, or internet banking. While no setup is required for branch and ATM use, those using mobile, internet, or SMS banking must register beforehand.

What Customers Should Do

SBI customers are advised to check the updated rates and see if their account category qualifies for exemptions. Staying informed will help avoid unexpected deductions while continuing to enjoy the speed and convenience of IMPS.

With the new fee structure, SBI aims to balance free small-value convenience with nominal charges for larger digital payments keeping India’s real-time money transfers both efficient and accessible.