SBI to Introduce Nominal Charges on IMPS Transfers Above ₹25,000 from August 15

Starting August 15, the State Bank of India (SBI) will introduce small charges on fund transfers made through the IMPS (Immediate Payment Service) system when the transaction amount exceeds ₹25,000.

According to the bank, transfers up to ₹25,000 will continue to remain free of charge, ensuring that smaller transactions are not affected by this revision.

Key Highlights of the Change

SBI clarified that the new charges apply only to online IMPS transfers above ₹25,000, while fund transfers made through branches remain unchanged.

Starting August 15, online IMPS transfers exceeding ₹25,000 will carry a small fee based on the transfer amount. These charges are considered minimal and are intended to ensure convenience while meeting operational expenses.

Importantly, salary package account holders will continue to enjoy full waivers, meaning they won’t be impacted by this new fee structure.

The bank also stated that for corporate customers, the revised structure will come into effect on September 8, 2025. Additionally, certain categories of accounts, such as current accounts held by government departments, statutory bodies, and specific premium accounts, will continue to enjoy full exemptions on IMPS charges.

Why It Matters to Customers?

For most everyday users, the impact of this change will be limited to larger transfers above ₹25,000. Routine payments, personal transfers, and smaller transactions will remain unaffected, keeping IMPS a convenient and fast option for instant money transfers.

By making these adjustments, SBI ensures that essential banking services remain accessible while gradually updating its fee structure.

Conclusion

The State Bank of India’s decision to introduce nominal charges on IMPS transfers above ₹25,000 marks a small but notable change in digital banking transactions. With smaller transfers remaining free, salary package accounts retaining full waivers, and exemptions for specific customer categories, the bank aims to balance accessibility with operational needs.

For everyday customers, the convenience and speed of IMPS remain unchanged, ensuring that it continues to be a reliable option for instant fund transfers.