Sending Money via IMPS? SBI Introduces New Online Transaction Charges
SBI Revises IMPS Rules: Customers to Pay for High-Value Online Transfers: State Bank of India (SBI), the country’s largest public sector bank, has revised its customer transaction charges. If you have an SBI account, this is important news for you.
The bank has announced that it will levy service charges on online transactions made through IMPS (Immediate Payment Service). This could affect the daily banking of many users. However, this charge will only apply to transactions exceeding ₹25,000. Smaller digital payments will remain free as before.
What will SBI’s new IMPS charges be?
Until now, there was no charge for sending money online through IMPS from an SBI account, but under the new rules, customers will have to pay a service charge for transferring amounts exceeding ₹25,000 via IMPS. The charge will be determined based on the transaction amount.
If you are an SBI account holder and make a transaction of ₹25,000 to ₹1 lakh through IMPS, a charge of ₹2 + GST will apply. For amounts between ₹1 lakh and ₹2 lakh, the charge will be ₹6 + GST, and for amounts between ₹2 lakh and ₹5 lakh, it will be ₹10 + GST.
This means that the higher the amount sent through IMPS, the higher the cost will be. However, these charges are not very high. SBI’s new IMPS charges will be effective from February 15, 2026. However, sending amounts up to ₹25,000 through internet banking, mobile banking, or the YONO app will remain free. Charges will only apply to amounts exceeding this limit.
Which customers will be exempt?
However, SBI has not made any changes to the IMPS charges for transactions conducted through branches. These will remain limited to ₹2 to ₹20 plus GST. In addition, several special account categories will continue to be exempt from the revised IMPS fees. These include DSP, PMSP, ICSP, CGSP, PSP, RSP accounts, as well as Shaurya Family Pension Accounts and SBI Rishte Family Savings Accounts. ATM and ADWM charges also increased
In addition, SBI’s revised ATM and ADWM charges will be effective from December 1, 2025. Under this, withdrawing money more than the free limit from other banks’ ATMs will incur a charge of Rs. 23 plus GST. Salary account holders will continue to receive 10 free transactions every month. Charges have been increased for all ATM transactions for current account holders. However, Basic Savings Bank Deposit (BSBD) accounts, SBI debit cardholders, or Kisan Credit Card accounts are exempt from these increased charges.
