SBI Introduces Charges for Online IMPS Transfers

State Bank of India (SBI) has revised its IMPS fund transfer charges via online channels. Effective August 15, transactions above Rs 25,000 incur fees. Salary package accounts retain free transfers. Revised corporate charges apply from September 8, 2025. Waivers exist for certain current account holders.

State Bank of India (SBI), the nation's largest lender, has announced new charges for online fund transfers via the Immediate Payment Service (IMPS). The changes take effect from August 15.

While branch-based IMPS transactions remain unaffected, online transfers exceeding Rs 25,000 will now incur a nominal fee, as per information available on the SBI website. These charges range from Rs 2 to Rs 10, with the addition of the Goods and Services Tax (GST).

The bank clarified that salary package account holders will continue to enjoy unaltered, fee-free transfers. Additionally, for corporate customers, the revised charge structure will come into force from September 8, 2025. Certain exemptions apply to specific current account categories for online IMPS transactions.

(With inputs from agencies.)