Archive · 19 Aug 2025
SBI Revises IMPS Charges: Fees Now Apply to Higher Transfers
SBI, a bank, now charges fees for certain online money transfers using IMPS, a quick payment service.
Transfers of Rs 25,000 or less are still free.
For larger amounts, fees apply, increasing with the transaction size.
However, some people, like those with specific salary accounts (government, defense, and corporate) won't have to pay these fees.
This change impacts how much it costs to send money online using this particular service.
SBI now charges fees for high-value IMPS transactions for retail customers.
Transfers up to Rs 25,000 remain free.
Fees range from Rs 2 + GST to Rs 20 + GST depending on the transaction amount.
Charges apply to online IMPS transfers, branch IMPS charges are unchanged.
Salary package account holders are exempt from the new fees.
- Who
- Retail customers of SBI who use IMPS.
- What
- SBI has revised charges for online IMPS transfers.
- When
- The changes were initiated on August 15, 2025.
- Where
- These charges apply to IMPS transactions in India.
- Why
- To impose nominal fees on high-value transactions.
- Free Transfer Limit
- Up to Rs 25,000
- Fee for Transfers Rs 25,000 - Rs 1 Lakh
- Rs 2 + GST
- Fee for Transfers Rs 1-2 Lakh
- Rs 6 + GST
- Fee for Transfers Rs 2-5 Lakh
- Rs 10 + GST
- Exemptions
- Salary package account holders
Sources
UPI Digital Payments To Remain Free For Now, Centre Says
According to the Center, there is no plan to levy transaction fees for UPI payments
Finance Ministry says no proposal to impose fee on UPI transactions
Interchange fee in credit cards: How it works and impacts customers