SBI New IMPS Charges! IMPS is not Free Now, Customers will have to pay Money
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The State Bank of India (SBI) has announced a revision in its Immediate Payment Service (IMPS) transaction charges for retail customers. IMPS is a facility that allows people to send money instantly to any bank account in India, 24×7, through online banking, mobile banking, or branch channels.
Under the new structure, there will be no change for small-value transfers — these will continue to be free for customers. However, if you are making higher-value transactions online, you may have to pay a small fee. Importantly, SBI has confirmed that the charges for IMPS transactions done through bank branches will remain the same.
The bank also stated that customers holding certain types of accounts, such as salary package accounts, will continue to enjoy special benefits and concessions. According to SBI, the revision is part of an effort to bring its fee structure in line with the rest of the banking industry.
Revised SBI IMPS Charges for Online Transactions
| Transaction Slab | New Charge (from Aug 15, 2025) |
| Up to Rs 25,000 | Free |
| Rs 25,001– Rs 1,00,000 | Rs 2 + GST |
| Rs 1,00,001 – Rs 2,00,000 | Rs 6 + GST |
| Rs 2,00,001 – Rs 5,00,000 | Rs 10 + GST |
Earlier, all these online transactions were free. IMPS charges at branches will remain same — starting from Rs 2 + GST for smaller transfers and going up to Rs 20 + GST for the highest permitted slab.
IMPS charges in the online channel remain fully waived for SBI’s 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), and Family Savings Account – SBI Rishtey holders.
Immediate Payment Service (IMPS) is an instant payment inter-bank electronic funds transfer system in India. Immediate Payment Service is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network.
- What is IMPS?
Immediate Payment Service is a new facility added to Mobile Banking Service. It facilitates funds transfer to an account of the beneficiary with a participating bank, based on beneficiary’s Mobile Number & MMID or Account No & IFSC. - What is MMID?
Mobile Money Identification Number (MMID) is a seven-digit number of which the first four digits are the unique identification number of the bank offering IMPS. - Is IMPS facility through RINB/YONO/YONO Lite available to all customers?
The facility is available to all registered users of RINB/YONO/YONO Lite having transaction rights on one or more accounts.