The State Bank of India (SBI) is set to revise the charges associated with Immediate Payment Service (IMPS) transactions for retail clients. Online and branch channels are affected differently; small-value transactions will be still free, but some higher-value online transfers now have minor costs. It is worth noting that IMPS fees at branches have not changed.
While maintaining concessions for particular account categories, particularly holders of salary packages, the adjustment attempts to bring SBI's pricing structure into line with industry standards.
IMPS: What is it?
IMPS, or Immediate Payment Service, is a real-time, 24×7 interbank transfer system provided by the National Payments Corporation of India (NPCI). It allows instant money transfers with a per-transaction limit of Rs 5 lakh for most channels, except SMS and IVR.
Revised SBI IMPS Charges – Online Transactions
| Transaction Slab | New Charge (from Aug 15, 2025) |
| Up to Rs 25,000 | Free |
| Rs 25,001– Rs 1,00,000 | Rs 2 + GST |
| Rs 1,00,001 – Rs 2,00,000 | Rs 6 + GST |
| Rs 2,00,001 – Rs 5,00,000 | Rs 10 + GST |
Earlier, all these online transactions were free.
Branch Channel – No Change in Charges
IMPS transactions at SBI branches will continue with the existing fee range — starting from Rs 2 + GST for smaller transfers and going up to Rs 20 + GST for the highest permitted slab.
Who Gets a Waiver?
IMPS charges in the online channel remain fully waived for SBI’s Defence Salary Package (DSP), Para Military Salary Package (PMSP), Indian Coast Guard Salary Package (ICGSP), Central Government Salary Package (CGSP), Police Salary Package (PSP), Railway Salary Package (RSP), Shaurya Family Pension Accounts, Corporate Salary Package (CSP), State Government Salary Package (SGSP), Startup Salary Package (SUSP), and Family Savings Account – SBI Rishtey holders.
What Other Banks Charge
IMPS transactions under Rs 1,000 are free at Canara Bank, however fees increase from Rs 3 + GST for Rs 1,000–Rs 10,000 to Rs 20 + GST for Rs 2 lakh–Rs 5 lakh.
Free IMPS transfers are available up to Rs 1,000 with Punjab National Bank; for Rs 1,001–Rs 1 lakh, fees are Rs 6 + GST in-branch and Rs 5 + GST online, with larger slabs costing Rs 12 + GST in-branch and Rs 10 + GST online.
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