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.
As per the new rules, there will be no charges on IMPS transfers 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 plus GST, from Rs 1 lakh to Rs 2 lakh will attract a fee of Rs 6 plus GST, while transactions from Rs 2 lakh to Rs 5 lakh will attract a fee of Rs 10 plus GST. This change will apply only to online transactions.
These charges will not be applicable on 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 amounts above this are charged between Rs 3 and Rs 20 plus GST. Punjab National Bank has free transactions up to Rs 1,000 and charges between Rs 5 and Rs 10 plus GST for transactions above Rs 1,001.