In a move aimed at streamlining digital transaction costs and promoting responsible banking, the State Bank of India (SBI) has announced revised charges for Immediate Payment Service (IMPS) transactions for retail customers. The new fee structure will come into effect from August 15, 2025, and will apply to both online (net banking/mobile banking) and branch-based IMPS transactions.
This update is expected to impact millions of SBI account holders who rely on IMPS for instant, 24/7 fund transfers. Here’s everything you need to know about the revised SBI IMPS charges for retail customers.
Why is SBI Revising IMPS Charges?
Over the past few years, SBI has been encouraging digital transactions through various incentives and low-cost services. However, with rising operational costs and increased transaction volumes, the bank has decided to rationalize its fee structure.
The revised SBI IMPS charges for retail customers aim to:
- Balance affordability with service sustainability
- Discourage excessive low-value transactions via branch counters
- Promote the use of more cost-effective digital channels like UPI for small transfers
- Improve digital banking hygiene and reduce branch congestion
Despite the changes, SBI continues to offer a certain number of free IMPS transactions per month, especially for basic savings account holders.
SBI IMPS Charges for Retail Customers (Effective August 15, 2025)
Below is the updated fee structure for IMPS transactions categorized by mode of transaction and amount transferred.
📱 A. IMPS via Digital Channels (YONO, Net Banking, SBI Mobile App)
✅ Note: The number of free transactions resets every month. Charges apply only after the free limit is exhausted.
🏦 B. IMPS via Branch (Teller-Based Transactions)
Branch-based IMPS transfers will now attract higher fees to discourage non-digital usage and reduce operational load.
⚠️ Important: Customers must provide valid ID proof and transaction purpose for branch IMPS above ₹50,000.
Key Highlights of the Revised SBI IMPS Charges for Retail
- Free transactions limited to digital platforms only – No free IMPS via branch counters.
- Higher fees for branch-based transfers – Encourages shift to mobile and online banking.
- GST applicable on all charges – Typically 18%, so actual cost may be slightly higher.
- No change in NEFT/RTGS charges – This revision applies only to IMPS.
- Senior citizens and disabled customers – No special concessions under the new IMPS fee structure.
How to Avoid Paying IMPS Charges
While IMPS offers instant fund transfer, there are smarter, cost-free alternatives for small-value transactions:
✅ 1. Use UPI for Transfers Under ₹1 Lakh
- Google Pay, PhonePe, BHIM, or SBI Pay – Free, instant, and widely accepted.
- No charges for any amount (up to daily limit of ₹1 lakh per transaction).
✅ 2. Opt for NEFT for Non-Immediate Transfers
- NEFT is free for online transactions on SBI’s digital platforms.
- Settlements occur in half-hourly batches—ideal for non-urgent payments.
✅ 3. Stay Within Free Transaction Limits
- Monitor your monthly IMPS usage via SBI YONO app or SMS alerts.
- Schedule larger transfers strategically to stay within free limits.
How to Make an IMPS Transfer in SBI (Step-by-Step)
To make the most of the free IMPS limits, follow these steps:
- Log in to SBI YONO or Net Banking.
- Go to Payments & Transfer > IMPS.
- Choose transfer type:
- MMID + Mobile Number
- Account Number + IFSC
- Aadhaar Number (if linked)
- Enter amount and confirm with ATM PIN or OTP.
- Save beneficiary for future free transfers.
💡 Tip: Register beneficiaries in advance to avoid delays during peak times.
What Customers Are Saying
The announcement has received mixed reactions:
- Positive Feedback: Digital-savvy users appreciate SBI’s push toward self-service banking.
- Concerns Raised: Elderly and rural customers dependent on branch services worry about increased costs.
- Expert Opinion: Financial advisors suggest switching to UPI for routine transfers to avoid fees.
SBI has assured customers that customer support and digital literacy programs will be expanded at branches to help users transition to online modes.
Frequently Asked Questions (FAQs)
Q: When will the new SBI IMPS charges for retail customers take effect?
A: The revised fees will be effective from August 15, 2025.
Q: Are there any free IMPS transactions at SBI branches?
A: No. As per the new rules, all branch-based IMPS transactions will be chargeable.
Q: Will existing beneficiaries be affected by the new charges?
A: No. The charges depend on transaction mode and frequency, not the beneficiary.
Q: Is GST included in the IMPS charges?
A: No. GST (18%) is added on top of the base fee.
Q: Can I check my free IMPS transaction count?
A: Yes. Log in to SBI YONO > Account Summary > Transaction History to track usage.
Q: Are NRI customers affected by this change?
A: The revision applies to resident retail customers. NRI-specific charges remain unchanged.
Final Thoughts: Plan Smart, Pay Less
The revised SBI IMPS charges for retail customers mark a strategic shift toward digital-first banking. While the changes may increase costs for occasional branch users, they also reinforce the benefits of adopting secure, low-cost digital alternatives like UPI and NEFT.
By understanding the new fee structure and optimizing your transaction habits, you can continue to send money instantly—without paying extra.
Stay informed, go digital, and make every rupee count.