If you have an account in State Bank of India (SBI), then very important news has come out for you. State Bank of India (SBI) has announced to impose charges on online IMPS transfer for its customers from August 15, 2025. Till now this facility was completely free. IMPS is a real-time fund transfer service, through which instant money can be sent 24 hours a day and all days of the year and a maximum transaction of up to Rs 5 lakh is possible at a time.
According to the new rules, there will be no charge on IMPS transfer of up to Rs 25,000 through internet banking, mobile banking or UPI. Transactions from Rs 25,001 to Rs 1 lakh will attract a fee of Rs 2 and GST, Rs 6 and GST from Rs 1 lakh to Rs 2 lakh, while transactions from Rs 2 lakh to Rs 5 lakh will attract a fee of Rs 10 and GST. This change will apply only to online transactions.
These charges will not apply to special salary package account holders of government and private institutions. At the same time, for branch-to-branch IMPS transfer, a fee of Rs 2 to Rs 20 plus GST will be charged depending on the amount as before.
Other banks also have different fee structures. Canara Bank has no fee for transfers up to Rs 1,000, while Rs 3 to Rs 20 plus GST is charged for amounts above this. In Punjab National Bank, transactions up to Rs 1,000 are free and Rs 5 to Rs 10 plus GST is charged for more than Rs 1,001.
