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IMPS Charges: Small value IMPS transactions up to Rs 25,000 will remain free for online users from August 15, 2025. Transactions worth more than Rs 25,000 made through online means will be charged a nominal fee. Let’s know what changes State Bank of India has made in its IMPS fee structure.
State Bank of India has announced to increase the transaction charges on Immediate Payment Service (IMPS) for retail customers. This change will come into effect from August 15, 2025. According to the bank, this increase will be applicable differently on online and branches. According to the bank, new charges will be applicable in the slab while there will be no change in others.
Free IMPS transactions up to Rs 25,000
According to the bank, small value IMPS transactions up to Rs 25,000 will remain free for online users. A nominal fee will be levied on transactions worth more than Rs 25,000 made through online means from August 15, 2025. Salary account holders will continue to get full exemption on online IMPS transfers. IMPS is a new real time payment service, which is available round the clock. This service is provided by the National Payment Corporation of India (NPCI). Transactions up to Rs 5 lakh can be done through this.
Which SBI customers will have to pay charges for IMPS transactions?
In case of online IMPS transactions, Rs 2 plus GST will be payable on amounts above Rs 25,000 and up to Rs 1,00,000, Rs 6 plus GST on amounts above Rs 1,00,000 and up to Rs 2,00,000 and Rs 10 plus GST on amounts above Rs 2,00,000 and up to Rs 5,00,000. Earlier these transactions were free.
What are the charges for IMPS transactions at SBI branches?
SBI has not made any change in the service charges associated with IMPS transactions done by visiting bank branches. The charge is Rs 2 plus GST in case of the lowest transaction, while the highest branch charge is Rs 20 plus GST. Apart from this, IMPS charges will not be applicable in case of DSP (Defense Salary Package), PMSP (Paramilitary Salary Package), ICGSP (Indian Coast Guard Salary Package), CGSP (Central Government Salary Package), PSP (Police Salary Package), and RSP (Railway Salary Package). Salary accounts have also been excluded from the purview of IMPS charges.
What are the charges on IMPS transactions in Canara Bank?
Canara Bank has no charges for transactions below Rs 1,000. Transactions from Rs 1,000 to Rs 10,000 are charged Rs 3 + GST, transactions from Rs 10,000 to Rs 25,000 are charged Rs 5 + GST and transactions from Rs 25,000 to Rs 1,00,000 are charged Rs 8 + GST. Amounts from Rs 1,00,000 to Rs 2,00,000 are charged Rs 15 + GST, while transactions from Rs 2,00,000 to Rs 5,00,000 are charged Rs 20 + GST.
What is the IMPS charge in PNB?
Punjab National Bank There is no charge on IMPS transactions up to Rs 1,000. For transactions above Rs 1,001 and up to Rs 1,00,000, the fee will be Rs 6 + GST if transacted through branch and Rs 5 + GST if transacted online. For transactions above Rs 1,00,000, customers will have to pay Rs 12 + GST if transacted through bank and Rs 10 + GST if transacted online.
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