SBI IMPS Charges: Hi there, pals. This info is crucial if you also use mobile or online banking to transfer money on a daily basis. The biggest public sector bank in the nation, State Bank of India (SBI), would now have to reconsider transmitting money online via IMPS for millions of its clients. The service, which was previously thought to be nearly free, will start to cost more on February 17, 2026.
How the SBI IMPS transfer system has operated up to this point
Up till now, SBI clients could use the YONO app or internet banking to send up to ₹5 lakh via IMPS for free. There were no costs, regardless of the size of the payment.
For this reason, IMPS has emerged as the most dependable and quick method of money transfers. However, the bank has now made the decision to alter this service’s regulations.
How the SBI IMPS transfer system has operated up to this point
Up till now, SBI clients could use the YONO app or internet banking to send up to ₹5 lakh via IMPS for free. There were no costs, regardless of the size of the payment.
For this reason, IMPS has emerged as the most dependable and quick method of money transfers. However, the bank has now made the decision to alter this service’s regulations.
What will be altered by the new regulations starting on February 15, 2026
Online IMPS transfers will no longer be entirely free, per SBI’s recent ruling. You will be charged a service fee if you use IMPS to send more than ₹25,000. The good news is that there will be no fees for transfers up to ₹25,000, while the fees for IMPS transactions conducted through branches remain unchanged.
How much of each sum will be charged
The new regulations state that you must pay ₹2 + GST if you transmit money online via IMPS that is between ₹25,000 and ₹1 lakh. A fee of ₹6 plus GST will be applied to transfers between ₹1 lakh and ₹2 lakh.
You must pay ₹10 + GST for sending amounts between ₹2 lakh and ₹5 lakh. This implies that you will have to pay an extra ₹10 + GST if you transfer ₹3 lakh using the YONO app or online banking.
Good news for anyone transferring small amounts of money
The good news is that online IMPS transactions up to ₹25,000 will continue to be entirely free for clients who transfer little amounts. This implies that bills, family transfers, and daily minor payments won’t be impacted. This modification was made especially with clients who send huge amounts of money in mind.
What consumers need to remember right now
It would be prudent to budget appropriately, taking into account the increased fees, if you regularly transfer substantial sums of money online. You might also wish to think about alternative digital payment methods.
Although your finances may be slightly impacted by SBI’s choice, the bank claims that it will aid in preserving and raising the caliber of its services.
Disclaimer: The sole objective of this article is to provide general information. SBI’s regulations and fees are subject to change. Please get the most recent information from your local branch, the YONO app, or the bank’s official website before completing any transactions.
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