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.

The post SBI Revise IMPS Policy: New IMPS Charges by SBI from August 15, 2025: What You Need to Know first appeared on Rightsofemployees.com.

IMPS Charges: IMPS (Immediate Payment Service) is a real-time money transfer service, which is available 24/7. This service can be accessed through multiple channels including mobile, internet, branch, ATM and SMS. This is a service through which funds can be transferred quickly and securely between banks in India. It is also quite economical.

There is also two-factor authentication when transferring money through IMPS. There is also a limit if IMPS is used for fund transfer. Customers do not need to register for mobile banking when initiating an IMPS transaction through ATM or online channel. Similarly, customers also do not need to register for withdrawing money through mobile banking or account number/IFSC.

Let us know what are the charges of banks for IMPS money transfer

SBI IMPS Charges:

There is no charge for transactions from ₹1 to ₹5,00,000.

HDFC Bank IMPS Charges:

₹0 – ₹1000: ₹3.50 + applicable GST
₹1001 – ₹100000: ₹5 + applicable GST
Above ₹100000: ₹15 + applicable GST

Axis Bank IMPS Charges:

Up to ₹1000: ₹2.50 per transaction
₹1,000 to ₹1,00,000: ₹5 per transaction
₹1,00,000 to ₹5,00,000: ₹10 per transaction
Additional taxes are applicable.

Canara Bank IMPS Charges:

₹0 to ₹25,000: No charges

₹25,001 to ₹100,000: ₹8 + GST

₹100,001 to ₹500,000: ₹15 + GST

₹10,000 to ₹1 lakh: ₹475

₹1 lakh to ₹50 lakh: ₹500

Also Read- PNB changed the service charge for 5 services, Check new charges

Kotak Mahindra Bank IMPS Charges:

No charge

YES Bank IMPS Charges:

There are no charges for transactions made through the mobile app.

A charge of ₹5 + GST ​​is applicable for using IMPS through Net Banking.

IMPS is a convenient and safe option that provides instant money transfer service. However, it is important to be aware of the charges and rules applicable while making the transaction.

Related Articles:-

Income Tax Refund did not come after filing ITR, know step by step what to do now?

Senior Citizens FD Rates: These 5 banks are giving the highest interest on FD to senior citizens, check interest rates here

Income Tax Refund did not come after filing ITR, know step by step what to do now?

The post IMPS Charges: What are the charges of banks for IMPS money transfer, Check charges details here first appeared on Rightsofemployees.com.

This is a service through which funds can be transferred quickly and securely between banks in India. It is also quite economical.

There is also two-factor authentication when transferring money through IMPS. There is also a limit if IMPS is used for fund transfer. Customers do not need to register for mobile banking when initiating an IMPS transaction through ATM or online channel. Similarly, customers also do not need to register for withdrawing money through mobile banking or account number/IFSC.

Let us know what are the charges of banks for IMPS money transfer

SBI IMPS Charges:

There is no charge for transactions from ₹1 to ₹5,00,000.

HDFC Bank IMPS Charges:

₹0 – ₹1000: ₹3.50 + applicable GST

₹1001 – ₹100000: ₹5 + applicable GST

Above ₹100000: ₹15 + applicable GST

Also Read: Delhi PUC Challan: Vehicles entering petrol pumps without PUC certificates to face hefty fines

Axis Bank IMPS Charges:

Up to ₹1000: ₹2.50 per transaction

₹1,000 to ₹1,00,000: ₹5 per transaction

₹1,00,000 to ₹5,00,000: ₹10 per transaction

Additional taxes are applicable.

Canara Bank IMPS Charges:

₹0 to ₹25,000: No charges

₹25,001 to ₹100,000: ₹8 + GST

₹100,001 to ₹500,000: ₹15 + GST

₹10,000 to ₹1 lakh: ₹475

₹1 lakh to ₹50 lakh: ₹500

Kotak Mahindra Bank IMPS Charges:

No charge

YES Bank IMPS Charges:

There are no charges for transactions made through the mobile app.

A charge of ₹5 + GST ​​is applicable for using IMPS through Net Banking.

IMPS is a convenient and safe option that provides instant money transfer service. However, it is important to be aware of the charges and rules applicable while making the transaction.

The post IMPS Charges: SBI, HDFC Bank, ICICI Bank, Canera Bank IMPS charges from August 2024 first appeared on Rightsofemployees.com.