SBI to Increase IMPS Charges for Online Transfers Over ₹25,000 from August 15

The State Bank of India (SBI), the largest public sector bank in the country, has announced a revision to its Immediate Payment Service (IMPS) charges for retail customers using online channels. The new charges will be applicable from August 15, 2025. According to the bank, this update is aimed at aligning SBI’s pricing model with the industry average while continuing to offer fee waivers for specific categories of customers.

What is IMPS?

IMPS, or Immediate Payment Service, is a 24×7 real-time interbank fund transfer facility managed by the National Payments Corporation of India (NPCI). It enables instant money transfers — even on weekends and public holidays — with a maximum transaction limit of ₹5 lakh through internet banking and mobile banking. IMPS transactions via SMS or IVR may have lower limits compared to online channels.

Key Changes in SBI’s IMPS Charges

Under the revised structure, small-value transfers of up to ₹25,000 will remain completely free. However, nominal fees will now apply for higher-value transactions conducted through internet banking and mobile banking.

New SBI IMPS Fee Structure (From August 15, 2025):

• Up to ₹25,000 – No charges applied (Free)

• ₹25,001 to ₹1,00,000 – ₹2 + GST per transaction

• ₹1,00,001 to ₹2,00,000 – ₹6 + GST per transaction

• ₹2,00,001 to ₹5,00,000 – ₹10 + GST per transaction

It’s important to note that these charges will only apply to online IMPS transactions. Fees for branch-based IMPS transactions remain unchanged.

Who Will Be Exempt from the New Charges?

SBI has clarified that these revised IMPS charges will not apply to customers belonging to specific salary and pension package schemes. The following account holders will continue to enjoy 100% waiver on online IMPS transaction fees:

• 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)

• Family Savings Account – SBI Rishtey

This exemption reflects SBI’s commitment to providing cost benefits to government employees, defence forces, and their families.

Why SBI is Revising IMPS Charges

While SBI has not provided detailed reasoning for this change, industry experts believe the move is aimed at balancing operational costs with competitive pricing. IMPS transactions incur infrastructure and network expenses for banks, and with increasing digital adoption, a revised fee model helps ensure sustainable operations.

Additionally, the tiered pricing system ensures that customers making smaller payments are not burdened with fees, while higher-value transactions contribute modestly to service costs.

What It Means for SBI Customers

For most regular SBI customers, this update will not affect low-value day-to-day transfers. Payments such as splitting bills, sending emergency funds, or making small purchases will still remain completely free if they are ₹25,000 or below.

However, customers making frequent high-value transfers — such as paying for property-related expenses, business transactions, or bulk purchases — will now see a small fee added to their transaction cost.

Customers under special account packages will not need to worry about the charges, as their transfers will continue to be free of cost.

Conclusion

From August 15, 2025, SBI customers will see a new tier-based fee structure for online IMPS transactions exceeding ₹25,000. While low-value transactions remain free, higher-value ones will incur a nominal fee. Exemptions for government, defence, and corporate package account holders ensure continued benefits for these groups. This change marks SBI’s effort to modernize its digital payment pricing while keeping essential services affordable for the majority of users.