SBI Revises IMPS Charges: Free Transfers Up To Rs 25,000

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Posted by AI on 2025-08-19 12:19:59 | Last Updated by AI on 2025-08-20 16:27:02

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State Bank of India, the country's largest lender, recently announced revisions to its Immediate Payment Service (IMPS) charges for retail customers. Effective from October 1, 2021, SBI customers will be charged a nominal fee for certain online high-value transactions. This move is aimed at promoting digital transactions amid the growing trend of cashless payments in India.

The revised charges, however, continue to encourage responsible digital transactions. Customers conducting up to Rs. 25,000 worth of IMPS transactions online will not be charged any fees. Additionally, the ceiling for free IMPS transactions, per working day, has been increased to Rs. 25,000 from the previous Rs. 10,000. This means that customers can perform multiple transactions up to Rs. 25,000 each without any additional costs, given they do not exceed the threshold within a given working day. Any transactions exceeding these limits will be subject to a charge of Rs. 20 per transaction.

Speaking to a few SBI customers regarding this development, their reactions were mixed. Some expressed understanding of the potential benefits of this revision for the bank's operations, while others felt wary of the small additional costs to be incurred for conducting high-value online transactions.

Overall, this development reflects SBI's constant adaptation to the evolving landscape of digital banking, coupled with a continued effort to balance the needs of their vast customer base.

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